coinsurance
[ koh-in-shoo r-uh ns, -shur- ]
/ ˌkoʊ ɪnˈʃʊər əns, -ˈʃɜr- /
noun
insurance underwritten jointly with another or others.
a form of property insurance in which an insurer assumes liability only for that proportion of a loss which the amount of insurance bears to a specified percentage of the value of the property.
- a form of health insurance in which the insured party contributes a specified percentage of the total cost of medical expenses after a deductible has been reached.
- the percentage contributed by the insured party: My coinsurance is 20%.Compare copay.
Words nearby coinsurance
coincidentally,
coinfectious immunity,
coinheritance,
coinosite,
coinstantaneous,
coinsurance,
coinsure,
coinsurer,
cointreau,
coinventor,
coir
British Dictionary definitions for coinsurance
coinsurance
/ (ˌkəʊɪnˈʃʊərəns, -ˈʃɔː-) /
noun
a method of insurance by which property is insured for a certain percentage of its value by a commercial insurance policy while the owner assumes liability for the remainder
joint insurance held by two or more persons