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underinsure

un·der·in·sure [ ùndərin shr ] (past and past participle un·der·in·sured, present participle un·der·in·sur·ing, 3rd person present singular un·der·in·sures)


transitive verb 
Definition:
 
insure something for too little: to take out insufficient insurance to cover the value of something ( often passive )

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