Definition: In some countries, low coverage insurance covers only a very limited number of claims. A person who doesn't have enough coverage may end up paying much more than they need to in the form of additional fees or penalties. Low coverage insurance often refers to policies that offer coverage at a lower price than a standard policy. These policies may also include some basic features, such as deductibles and limits on medical expenses, but are designed to help people save money rather than offering comprehensive protection against financial losses.
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