Coinsurance is a clause used in insurance contracts on property insurance policies such as homeowners insurance. The clause ensures policyholders insure their property to an appropriate value and that the insurer receives a fair premium for the risk. If you have an outstanding mortgage loan on the...
Coinsurance clauses are found in many insurance policies, such as commercial property, dwelling forms, homeowners, federal flood, health insurance, and at times even directors and officers liability policies. But, while the clause or requirement is called "coinsurance" in each type of policy, the...