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coinsurance

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noun co·in·sur·ance \ˌkō-ən-ˈshu̇r-ən(t)s also -ˈin-ˌ\

Definition of coinsurance

  1. 1 :  joint assumption of risk (as by two underwriters) with another

  2. 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



Circa 1889

First Known Use of coinsurance

circa 1889

Rhymes with coinsurance


Medical Dictionary

coinsurance

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noun co·in·sur·ance \ˌkō-ən-ˈshu̇r-ən(t)s, -ˈshər- also -ˈin-ˌshu̇r-, -ˌshər-\

Medical Definition of coinsurance

  1. :  health insurance in which an insurer requires the insured to pay a fixed percentage of the cost of medical expenses after the deductible has been paid and with the insurer to pay the remaining expenses <Coinsurance is not a new idea—Americans who grew up in the era before managed care will remember their parents paying 20% of the costs of office visits, tests, and prescriptions.—Thomas H. Lee et al., The New England Journal of Medicine, 24 July 2008>




Law Dictionary

coinsurance

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noun co·in·sur·ance \ˌkō-in-ˈshu̇r-əns, kō-ˈin-ˌshu̇r-\

Legal Definition of coinsurance

  1. 1 :  joint assumption of risk (as by two underwriters) with another

  2. 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 to suffer a penalty in proportion to the deficiency




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