Coinsurance Requirement


Definition of "Coinsurance requirement"

Christopher Dardano Agent real estate agent
Christopher Dardano Agent, Real Estate Agent NextHome CNY Realty

Amount of insurance that the insured must carry in order to be indemnified for the total dollar amount of the actual loss. If this requirement is met by the insured, the coinsurance penalty will not go into effect. The amount of insurance required is usually expressed as a percentage of the value of the property insured at the time the loss is incurred; however, the amount may also be expressed as a flat dollar amount.

 

Need help from a real estate agent?


Buy Sell Rent

I agree to receive FREE real estate advice.

Are you a real estate agent?


Residential Rental Commercial

I agree to receive FREE real estate advice.

Have a question or comment? We're here to help.

 

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Popular Insurance Questions