Underinsure - definition of underinsure by The Free Dictionary
Also found in: Medical
(Insurance) to provide with inadequate insurance to cover the cost of a loss
un•der•in•sure (ˌʌn dər ɪnˈʃʊər, -ˈʃɜr)
v.t. -sured, -sur•ing.
to insure for an amount less than the true or replacement value.
References in periodicals archive
The policyholder is required to purchase an amount of insurance equal to at least a certain percentage of the value of the insured property (usually 80 percent) or suffer a proportionate "penalty" to the extent he underinsures