coinsurance Hear it!

coinsurance definition

co·insur·ance (kō′in s̸ho̵or′əns)

noun

  1. a form of property insurance in which the insured shares in losses proportionately to the extent that the amount of insurance falls short of a specified percentage of the value of the insured property
  2. joint insurance by two or more insurers

Webster's New World College Dictionary Copyright © 2005 by Wiley Publishing, Inc., Cleveland, Ohio.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.