coinsurance

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Related to coinsurance clause: co-insurance

co·in·sur·ance

 (kō′ĭn-sho͝or′əns)
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 value and agrees to be responsible for the difference.
3. A sum of money paid by a patient to a health care provider after a health insurance company has paid a contractual amount for a covered service, usually a fixed percentage of costs. Coinsurance usually applies after an annual deductible has been paid.

coinsurance

(ˌkəʊɪnˈʃʊərəns; -ˈʃɔː-)
n
1. (Insurance) a method of insurance by which property is insured for a certain percentage of its value by a commercial insurance policy while the owner assumes liability for the remainder
2. (Insurance) joint insurance held by two or more persons

co•in•sur•ance

(ˌkoʊ ɪnˈʃʊər əns, -ˈʃɜr-)

n.
1. insurance underwritten jointly with another insurer.
2. property insurance in which liability is assumed only for a specified percentage of the property value.
[1885–90]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.coinsurance - insurance issued jointly by two or more underwriters
insurance - promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
Translations

coinsurance

[ˌkəʊɪnˈʃʊərəns] Ncoaseguro m, seguro m copartícipe
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References in periodicals archive ?
Is there any way that the coinsurance clause can be applied after the loss?
For a 20% health insurance coinsurance clause, the policyholder pays for the deductible plus 20% of covered losses.
Regardless, the coinsurance clause is applied at the "time of loss.
Depending upon the amount of noncompliance, the insured might actually have been better to ignore choosing this option and simply rely on the coinsurance clause in the basic form.
If an insured wants only extra expense coverage, it need not purchase an amount of insurance that satisfies the BI coinsurance clause because coinsurance does not apply to extra expense.
The Builders Risk Coverage form, CP 00 20, contains what amounts to a 100 percent coinsurance clause based on the value of the building on its completion date but it is not always clear what comprises the completed building's value.