overinsured
[ˌoʊvərɪnˈʃʊrd]
adjective
superassegurado
1. insured for an amount greater than the actual value of the property or item
The house was overinsured, with a policy value exceeding its market worth by 40%.
A casa estava superassegurada, com um valor de apólice superior ao seu valor de mercado em 40%.
2. having excessive insurance coverage relative to actual risk or need
Many customers realize they are overinsured after reviewing their multiple overlapping policies.
Muitos clientes percebem que estão superassegurados após revisar suas múltiplas apólices sobrepostas.
3. carrying more insurance than necessary, often resulting in wasted premiums
The businessman discovered he was overinsured on his vehicle through three different providers.
O empresário descobriu que seu veículo estava superassegurado através de três provedoras diferentes.
This term is primarily used in financial and insurance contexts in both Brazil and the USA. In Brazil, insurance literacy has grown, making this term more common in middle and upper-class discussions about property and vehicle insurance. In the USA, it reflects concerns about premium waste and financial optimization. The concept is often raised by insurance brokers to help clients reduce unnecessary expenses.
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