coinsurance

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

Definition of coinsurance

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

  2. 2 :  insurance (such 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

Recent Examples of coinsurance from the Web

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'coinsurance'. Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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).

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!

WORD OF THE DAY

to glide in or as if in an airplane

Get Word of the Day daily email!

WORD GAMES

Take a 3-minute break and test your skills!

  • istock-refers-to-this-as-a-tumble-of-strawberries-which-sounded-pretty-nice-to-us
  • Which is a synonym of garner?
How Strong Is Your Vocabulary?

Test your vocabulary with our 10-question quiz!

TAKE THE QUIZ
Word Winder's CrossWinder

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

TAKE THE QUIZ

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!