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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Record of insurance policies sold to an individual. ...
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Direct relationship between the use to which a building is put and the likelihood that it will catch on fire. Occupancy is one of the most important factors in setting fire insurance rates. ...
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