The result of the policyholder's failure to buy sufficient insurance. An underinsured policyholder may only receive part of the cost of replacing or repairing damaged items covered in the policy.

"Underinsurance" In Context

"This constitutes a big step towards AIA's goal to help reduce underinsurance in New Zealand , which has long languished near the bottom of OECD countries for life risk insurance. AIA New Zealand CEO Wayne Besant said, "Every indicator we see is that New ..."