coinsurance

play
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


Medical Dictionary

coinsurance

play
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

play
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


Learn More about coinsurance


Seen and Heard

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

WORD OF THE DAY

an alert or lookout

Get Word of the Day daily email!

WORD GAMES

Take a 3-minute break and test your skills!

  • alphabet-magnets
  • Which is the correct spelling?
Name That Thing

Test your visual vocabulary with our 10-question challenge!

TAKE THE QUIZ
SCRABBLE® Sprint

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ