Which of the following is a correct definition of coinsurance?

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Which of the following is a correct definition of coinsurance?

A.A clause that allows the insurer to take action against a third party for reimbursement of loss settlements made with the insured

B.Two or more buildings that are covered under a single policy

C.Two or more policies that apply to the same property

D.A requirement that the insured carry insurance equal to a specified percentage of the property value, to be fully indemnified under the policy

Answer: D.A requirement that the insured carry insurance equal to a specified percentage of the property value, to be fully indemnified under the policy

The above question Which of the following is a correct definition of coinsurance?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.

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