coinsurance definition

coinsurance

Type of policy (such as automobile or medical insurance) under which the insured must bear a fixed sum of loss in case of a claim.

Insurance cover shared between two or more insurers to spread the potential liability in very large risks.

coinsurance is in the General, Marine, & Life Insurance subject.

coinsurance appears in the definitions of the following terms: underinsured and average

This content can be found on the following page:

http://www.businessdictionary.com/definition/coinsurance.html