minimum coverage
Least required insurance
Minimum coverage is the lowest level of insurance legally required or contractually acceptable.
In auto insurance, it refers to state-mandated liability limits: She only carries minimum coverage, so her policy won't cover much if she causes an accident.
The term also applies to health insurance meeting basic regulatory standards.
Minimum coverage is typically inadequate for serious claims but satisfies legal requirements at the lowest premium cost.
- baselineStandard for comparison
- thresholdPoint of beginning
- bareLacking any covering
- essentialFundamentally necessary
- liabilityLegal or financial obligation
insurance · policy · deductible · premium · out of pocket · requirement · mandate · protection · legal · basic · floor · lowest · standard · compliance · adequate · sufficient · safety · safety net
- auto insuranceauto insurance, car insurance, vehicle insurance, theft protection, premium
- insuranceinsurance, auto insurance, life insurance, home insurance, underwriting
- health insurancepremium, deductible, copay, health insurance card, premiums
- Vehicle Requirementslicense plate, registration sticker, driver license, proof of insurance, seat belt
- coverage limitspolicy limit, sublimit, lifetime limit, annual limit, aggregate
- liability insuranceliability insurance, general liability, personal liability, professional liability, public liability
minimum coveragefull coverage
Protection without exclusions
comprehensive coverage · blanket coverage · universal coverage · wall-to-wall coverage
minimum, coverage, minimal, minimize, minimized, minimizing, minimization, minimalist, minimalism