Coinsurance

Coinsurance

A provision of an insurance policy that provides that the insurance company and the insured will apportion between them any loss covered by the policy according to a fixed percentage of the value for which the property, or the person, is insured.

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Part of Speech: Other
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Industry/Domain: Insurance
Category: Commercial insurance
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Related terms

coinsurance

Law; Contracts

Insurance under which the insurer and insured jointly bear the responsibility is called coinsurance in legal terminology.

coinsurance

Insurance; Commercial insurance

A provision of an insurance policy that provides that the insurance company and the insured will apportion between them any loss covered by the policy according to a fixed ...

coinsurance

Insurance; Life insurance

In property insurance, requires the policyholder to carry insurance equal to a specified percentage of the value of property to receive full payment on a loss. For health ...

coinsurance

Health care; General

A percentage of covered expenses you pay after you meet your deductible. The remaining balance in your healthcare account may be used to pay your deductible.

coinsurance

Health care; General

This is the percentage of health care expenses you pay after your deductible. Your health plan pays the rest up to any benefit or lifetime maximum.

coinsurance

Health care; General

A provision in a member's coverage that limits the amount of coverage by the plan to a certain percentage, commonly 80 percent. Any additional costs are paid by the member out of ...

over insurance

Insurance; Commercial insurance

A contract whereby, for specified consideration, one party undertakes to compensate the other for a loss relating to a particular subject as a result of the occurrence of ...

insurance contract

Insurance; Commercial insurance

contrato de seguro: por el contrato de seguro, la empresa se obliga, mediante una prima, a resarcir un daño o a pagar una suma de dinero, al verificarse la eventualidad prevista ...

abandonment clause

Insurance; Investment; Commercial insurance; General insurance; Home insurance

A clause in a property insurance contract that, under certain circumstances, permits the property owner to abandon lost or damaged property and still claim a full settlement ...