Coinsurance (noun) Definition, Meaning & Examples

noun
  1. insurance underwritten jointly with another or others.
  2. a form of property insurance in which an insurer assumes liability only for that proportion of a loss which the amount of insurance bears to a specified percentage of the value of the property.
    • a form of health insurance in which the insured party contributes a specified percentage of the total cost of medical expenses after a deductible has been reached.
    • the percentage contributed by the insured party: My coinsurance is 20%.
noun
  1. a method of insurance by which property is insured for a certain percentage of its value by a commercial insurance policy while the owner assumes liability for the remainder
  2. joint insurance held by two or more persons
Coinsurance (noun) Definition, Meaning & Examples

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