Loss Settlement Amount


Definition of "Loss settlement amount"

Therese Antonelli real estate agent
Therese Antonelli, Real Estate Agent Moving The Mitten Real Estate Group

In homeowners insurance, usually an 80% coinsurance requirement, which means the insured must carry insurance on the value of a home on a replacement cost basis of at least 80%. For example, a home is worth $200,000, and a fire does $50,000 damage. If there is $150,000 of insurance, it may appear that the insured would be reimbursed for the total loss.

 

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