What is a Coinsurance Policy?
Coinsurance is a clause contained in some property insurance policies usually commercial property insurance policy to encourage homeowners and business policyholders to carry the proper amount of insurance. The insurer is usually required to carry a specific amount in the clause (It is usually the higher amount and typically is eighty percent), the insured shares in the loss and is required to pay the difference in the percentage covered by the insurance policy. This type of policy when it comes to property insurance will still require a Public Adjuster in order to get the coverages and scope of damages paid fairly.