noun
overinsurance
Insurance term: coverage exceeding the actual value of the insured item, or having more insurance than necessary.
超過保険は保険料の無駄になることがある。
Overinsurance can be a waste of premiums.
Synonym also meaning overinsurance; 超過保険 is more common in some contexts, but both are used in insurance terminology.
Compound of 超過 (excess) and 保険 (insurance).