Underinsurance

Jargon Buster

January 9, 2020

Jargon Buster

//mobiinsure.co.uk/wp-content/uploads/2014/09/my-own-business-insurance-small-business-insurance.jpg

Underinsurance

If you are stated as having underinsurance, then the sums that have been insured do not reflect the actual value of the property or item(s) being insured to effectively provide cover.

The amount being covered is less than the actual value of the property or item(s).