Coinsurance clause

Coinsurance clause,

Definition of Coinsurance clause:

  1. Insurance policy stipulation that a building must be insured for at least a certain percentage (usually 80 percent) of its insurable value (appraised or market value of the property less value of land) in order to collect the full amount of a partial-loss claim on it.

Meaning of Coinsurance clause & Coinsurance clause Definition