What is coinsurance all about?
Most business policies include a “coinsurance” clause stipulating what percentage of the total value of your property must be insured to be fully reimbursed for a loss, even a partial one. (Most losses are partial.) If you insure for less than that amount, your insurance company may impose a “coinsurance penalty” on your claim.
Most business policies include a “coinsurance” clause stipulating what percentage of the total value of your property must be insured in order to be fully reimbursed for a loss, even a partial one. (Most losses are partial.) If you insure for less than that amount, your insurance company may impose a “coinsurance penalty” on your claim.
Related Questions
- Which fields on the UB-04 should be used to indicate Medicare coinsurance and deductible if the form locator 39 is used by the provider for something else?
- Can my prescription drug copayments be used to satisfy my calendar year deductible or coinsurance?
- Whats the difference between a copayment and coinsurance?
