What is Co-Insurance?
In property insurance, co-insurance is a clause under which the insured shares in losses to the extent that he/she is underinsured at the time of a loss. You may have heard of co-insurance relative to health insurance; this is a provision in which the insured and the insurance company will share covered losses in an agreed proportion.
In property insurance, co-insurance is a clause under which the insured shares in losses to the extent that he/she is underinsured at the time of a loss. You may have heard of co-insurance relative to health insurance; this is a provision in which the insured and the insurance company will share covered losses in an agreed proportion. Go to top of page Small Business General Liability Insurance FAQ’s Q: What is a third party claim? A: A third party claim is a claim brought against you by someone other than an insured. Q: Does my General Liability Policy provide coverage if my company is sued for pollution? A: This insurance does not apply to bodily injury, property damage, advertising injury or personal injury arising out of the actual, alleged or threatened discharge, dispersal, seepage, migration, release or escape of pollution. Q: Does my General Liability Policy provide Liquor Liability Coverage? A: Yes, your General Liability policy provides liquor liability coverage unless you ar
Co-insurance is the portion of your health-care expense not covered by insurance. A co-insurance is usually a percentage, like 10 percent or 20 percent. For example, on a $500 bill, your deductible might be $150, so you would have to pay the first $150. This leaves a balance of $350. Of the $350, your co-insurance might be 20 percent, meaning you will have to pay an additional $70. Your insurance will pay the remaining $280.
Related Questions
- I currently have a job and insurance for myself and my son, but after 3 months of my maternity leave if I decide to resign my job, will I be able to get FAMIS for myself and my two sons including my husband who has Obama care?
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- What is Co-Insurance?
