Policy Terms

Coinsurance

Coinsurance is defined as: A policy provision that requires you to carry insurance equal to a specified percentage of your property's value.

Coinsurance clauses require you to insure your property for a certain percentage (usually 80%) of its replacement value to avoid penalties.

The maximum amount an insurance company will pay for a covered loss under your policy.

The amount it would cost to replace damaged property with new property of similar kind and quality, without deducting for depreciation.

Our network of specialists can help you understand your coverage options and find the right protection for your high-risk property.