What is Coinsurance (Property Insurance)? | PROPERTY-CASUALTY Exam Prep

Coinsurance is a property insurance provision requiring the insured to carry coverage equal to a specified percentage (usually 80%) of the property value or face a penalty at claim time. 📚 Learn more about Coinsurance (Property Insurance) and other key terms for your PROPERTY-CASUALTY exam at Open Exam Prep. 🎯 This term appears on: PROPERTY-CASUALTY 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Coinsurance (Property Insurance) definition: https://www.open-exam-prep.com/glossary/coinsurance-property 💡 Exam Tip: Coinsurance = penalty if underinsured. Formula: (Did divided by Should) × Loss. 80% is typical. Must calculate! --- #insurance #examprep #financeexam #property-casualty