underinsurance

American  

[uhn-der-in-shoor-uhns, -shur-] / ˈʌn dər ɪnˌʃʊər əns, -ˌʃɜr- /

noun

1. insurance purchased against damage or loss of property in an amount less than its true value, sometimes bought intentionally by the insured with full knowledge of the risk.

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Etymology

Origin of underinsurance

under- + insurance

Example Sentences

On the roads, meanwhile, underinsurance is so widespread that several states require what’s known as underinsured motorist coverage, which protects policyholders when the other driver in an accident is underinsured.

From MarketWatch

That, he said, is contributing to the underinsurance problem.

From MarketWatch

Research suggests that widespread underinsurance is, in part, also the result of insurers promoting lower-cost plans to attract new customers, even if those plans ultimately do not provide adequate coverage.

From MarketWatch

The researchers discovered “large differences in average underinsurance across insurers.”

From MarketWatch

Others point to problems in the U.S. health care system, such as uninsurance, underinsurance, and high co-payments and deductibles, and to underlying trends in chronic diseases that might be caused by nutritional policy failures.

From Slate