What is Co-Insurance?
Co-insurance (sometimes called ‘co-pay’) is the portion of the pet insurance claim that you are responsible for. With Petsecure pet health insurance, you pay 20%, and Petsecure covers up to 80% of your veterinary fees. We believe that co-insurance is a way of sharing in responsible pet ownership, thereby ensuring that premiums are kept affordably low.
It is the condition of this transit policy to insure 100% of the value of the household goods shipment. If 100% of the value is not declared the owner will bear a proportionate share of any covered loss or damage that may arise while in transit/storage. For example, if the actual household goods shipment has a value of $50,000 and you decide to declare it for $25,000, the insurance policy will only cover 50% of the loss or damage, as the goods were insured for only one-half of their actual value.
Co-insurance is a policy provision under which you and the insurance company share the total cost of covered medical services after the deductible has been met set as fixed percentages. For illustrative purposes, a particular plan may provide 75/25% coinsurance (after a $2,000 deductible has been met) up to a specified amount called the coinsurance out of pocket maximum (in this case $3,000). This means that you’ll pay the the first $2,000 of covered expenses subject to the deductible. Then, you’ll pay 25% of all covered expenses up to the point that you’ve paid $3,000, (while the insurance company pays 75%). After that, the plan typically pays 100% of covered charges for the remainder of the year on an in network basis, up to the policy maximum. Please note that coinsurance percentages and coinsurance out of pocket maximums differ out of network with you covering a greater portion of the cost overall. Once met, most policies typically only cover the maximum allowable amount of the usu
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