Definitions

1. noun

an amount or sum that exceeds a specified limit or allowance, especially in insurance or finance.

“The insurance policy had a high overage fee for claims above $10,000.”

2. noun

a surplus or excess of something, especially of a material or resource.

“The company’s overage of raw materials led to a significant reduction in production costs.”

3. verb

to exceed a specified limit or allowance, especially in insurance or finance.

“The company’s revenue overaged the budget projections by $1 million.”