Underinsurance and Overinsurance: Risks and Tips for Prevention

Ideally, we all want to have exactly as much insurance as we need to protect our assets and take care of ourselves in case of an emergency. Unfortunately, though, many people are overinsured or underinsured rather than having the right amount of insurance. Here are some tips for preventing this issue and why you should be aware of it. What Is Underinsurance? Underinsurance occurs when a person doesn’t have enough insurance to cover what needs to be covered. This can include a medical condition, a property, or something else. According to Investopedia, inadequate coverage can result in a claim that […]

Read more »