coinsurance


co·in·sur·ance

noun \ˌkō-ən-ˈshr-ən(t)s also -ˈin-ˌ\

Definition of COINSURANCE

1
:  joint assumption of risk (as by two underwriters) with another
2
:  insurance (as fire insurance) in which the insured is obligated to maintain coverage on a risk at a stipulated percentage of its total value or in the event of loss suffer a penalty in proportion to the deficiency

First Known Use of COINSURANCE

circa 1889

Rhymes with COINSURANCE

Browse

Next Word in the Dictionary: coinsure
Previous Word in the Dictionary: coinstantaneous
All Words Near: coinsurance

Seen & Heard

What made you want to look up coinsurance? Please tell us where you read or heard it (including the quote, if possible).

Get Our Free Apps
Voice Search, Favorites,
Word of the Day, and More
Join Us on FB & Twitter
Get the Word of the Day and More