Coinsurance Penalty


Definition of "Coinsurance penalty"

Reduction in the amount that the insured receives from the insurer, after having incurred a property loss, because the insurer failed to carry the amount of coverage required by the coinsurance clause.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Offset Approach

Method of integrating an employee's Social Security or other retirement benefits with a qualified re ...

Gravel

Loose combination of small rocks and pebbles used for a gutter, driveway, landscaping, or roadbed. ...

Total Disability Benefit

Monthly income payment from a disability income insurance policy made to the insured wage earner whe ...

Automatic Increase In Benefit Provision

Clause in a disability income insurance policy that will adjust the amount of the monthly income pay ...

Girder

Main structural support beam. A girder is made of steel, reinforced concrete, or timber. It is desig ...

Notice Of Nonresponsability

A clearly stated notice that an owner or operator will not assume responsibility for an inherent ris ...

Related Real Estate FAQ

What Is Loan Amortization?

This calculator will amortize your mortgage over the loan period based on your input. To see a break ...

What Is A Sales Contract?

A sales contract is the contract you draw up when you want to make an offer on a home. ...

What Is A Mortgagor?

A mortgagor is the borrower. ...

How Much Money Can I Borrow To Buy A Home?

To begin, you\'ll need to figure out what your gross income is (before taxes) monthly and yearly. T ...

What If They No Longer Make My Specific Computer?

The insurance company will replace it with a model as close to it as possible in the current retail ...

What Does FSBO Mean?

FSBO means for sale by owner. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What do Real Estate Attorneys do? What is Escrow and how does it Work? Why Right Now is a Good Time for Millennials to Buy a Home Why Use a Real Estate Agent? When to buy a house

FAQ

What does Travel Insurance Typically Cover? What is a REALTOR®? What is a mortgagee? What is a mortgagor? What is a cap?