overinsurance
Coverage exceeding actual value
Overinsurance is having more insurance coverage than the value of what's insured, or more than you could collect in a claim.
Insurance policies typically prevent profiting from a loss, so overinsurance means paying premiums for coverage you can't use: The appraisal revealed we'd been paying for overinsurance on the house for years.
Amount paid exceeding debt
- umbrella policySupplemental liability insurance
- coverage limitsMaximum insurer will pay
- premiumsPayments for insurance coverage
- deductiblesPre-coverage personal payments
policyholder · endorsement · exclusions · claims · underwriting · comprehensive · liability · actuarial
Exceeding one's budget
- squanderingReckless depletion of resources
- inefficiencySuboptimal use of resources
- misallocationImproper distribution of resources
- extravaganceExcessive, wasteful spending
profligacy · imprudence · overprotection · overkill · wastefulness · overprovision · excessiveness · sunk cost
Noncommittal maneuvering
- moral hazardConsequence-free risk-taking incentive
- risk managementIdentifying and minimizing threats
- loss preventionProtecting store inventory
- risk assessmentEvaluating likelihood of harm
diversification · actuary · underwriting · overcaution · defensive strategy · belt-and-suspenders · contingency · safety margin
Persistent apprehensive distress
- peace of mindState without anxiety
- worryTroubled mental state
- paranoiaIrrational persecution fears
- catastrophizingImagining worst-case outcomes
worst-case thinking · loss aversion · overprotectiveness · hypervigilance · emotional spending · irrational fear
overpayment
Amount paid exceeding debt
- umbrella policySupplemental liability insurance
- coverage limitsMaximum insurer will pay
- premiumsPayments for insurance coverage
deductibles · policyholder · endorsement · exclusions · claims · underwriting · comprehensive · liability · actuarial · aggregate
overspending
Exceeding one's budget
- squanderingReckless depletion of resources
- inefficiencySuboptimal use of resources
- misallocationImproper distribution of resources
extravagance · profligacy · imprudence · overprotection · overkill · wastefulness · overprovision · excessiveness · sunk cost · financial burden
hedging
Noncommittal maneuvering
- moral hazardConsequence-free risk-taking incentive
- risk managementIdentifying and minimizing threats
- loss preventionProtecting store inventory
risk assessment · diversification · actuary · underwriting · overcaution · defensive strategy · belt-and-suspenders · contingency · safety margin
anxiety
Persistent apprehensive distress
- peace of mindState without anxiety
- worryTroubled mental state
- paranoiaIrrational persecution fears
catastrophizing · worst-case thinking · loss aversion · overprotectiveness · hypervigilance · emotional spending · irrational fear
overinsuranceunderinsurance
Inadequate policy coverage
underprotection · insufficient coverage · coverage gap · insurance gap · partial coverage
insure, insurance, assurance, assure, ensured, insured, reassurance, insurers, insurer