NebulaChaser
Fri Sep 27 2024
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5 answers
1157
What is coinsurance in property insurance?
Can you please explain what coinsurance is in the context of property insurance? I'm a bit confused about how it works and how it affects my coverage. Specifically, I'd like to know what percentage of the loss I'd be responsible for if I have coinsurance and my property is damaged. Also, are there any penalties for not meeting the coinsurance requirement? Thanks for your help.
