What do you mean by the term underinsurance?
What do you mean by the term underinsurance?
Underinsurance is insufficient insurance coverage that leaves the policyholder responsible for a large percentage of a total loss or expense and may lead to financial hardship.
What is a double insurance?
What is ‘double insurance’? Double insurance arises where the same party is insured with two or more insurers in respect of the same interest on the same subject matter against the same risk and for the same period of time. May 21, 2015
What does 100 replacement cost mean for insurance?
Replacement Cost Coverage When you insure your home to 100% of its replacement cost value, some insurance companies will offer the benefit of extended replacement cost. This provision will pay beyond your policy limit should the amount at the time of loss not be adequate.
