A clause in insurance policies covering real property that requires the policyholder to maintain fire insurance coverage generally equal to at least 80 percent of the property's actual replacement cost.
Related information about coinsurance clause:
- Co-insurance - Wikipedia, the free encyclopedia
A building actually valued at $1,000,000 has an 80% coinsurance clause but is insured for only $750,000. Since its insured value is less than 80% of its actual ...
- coinsurance clause - Legal Dictionary - The Free Dictionary
A provision of an insurance policy that provides that the insurance company and the insured will apportion between them any loss covered by the policy ...
- coinsurance clause - The Free Dictionary
co·in·sur·ance (k n-sh r ns). n. 1. Insurance held jointly by two or more insurers. 2. A form of insurance in which a person insures property for less than its full ...
- Coinsurance Explained
According to the independent Insurance Agents of America, most business policies include a "coinsurance" clause, determining what percentage of the value of ...
- What Are Coinsurance Clauses and Do Courts Enforce Them ...
Sep 29, 2011 ... For example, if a building valued at $250,000 is insured with a policy containing an 80% coinsurance clause, the policyholder must purchase at ...
- What is coinsurance clause? definition and meaning
Definition of coinsurance clause: Insurance policy stipulation that a building must be insured for at least a certain percentage (usually 80 percent) of its insurable ...
- Do You Clearly Understand Your Building's Coinsurance Clause ...
May 31, 2011 ... Or How To Lose $70000 In 30 Seconds! In property insurance language, “ coinsurance” means that you are accepting a role as a co-insurer in ...
- Waiver Of Coinsurance Clause Definition | Investopedia
Language in an insurance policy that says the insurance company will not require application of the part of the policy that divides responsibility for an insured ...