Coinsurance Percentage
Definition of "Coinsurance percentage"
In many property insurance policies, a requirement that the insured carry insurance as a percentage of the total monetary value of the insured property. If this percentage is not carried, the insured is subject to the coinsurance penalty.
Popular Insurance Terms
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Endorsement to the commercial general liability insurance (CGL) policy that provides liability coverage to an insured business for damages anywhere in the world. Policies typically have ...
Payments due to an insurance company but not yet paid. ...
Individuals other than the crew of a ship who forcefully steal the ship and/or its cargo. This event is an insured peril under ocean marine insurance. ...
Coverage for dental services under a group or individual policy. ...
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Health characteristic considered by an insurer underwriting an applicant for life or health insurance. Many insurance companies charge reduced premiums for nonsmokers. ...
Arrangement whereby an insurance company agrees to pay specified health care service vendors a predetermined sum for providing such services to the covered individuals. ...
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