Legal Definition and Related Resources of Co-insurance

Meaning of Co-insurance

It is a stipulation in an insurance policy that the insured shall bear such proportion of any loss as the value of the property at risk, in excess of the insurance the reon, shall bear to the amount of the insurance thereon, or to the interest of the insured therein; or, in other words, that the underwriter shall be liable for such proportion only of the property at risk, lost or damaged , as the amount of his insurance may bear to the value of the entire property at risk or the interest of the insurer therein; the insured being held as co-insurer to the extent of any excess value above such insurance. A co-insurance clause is designed to compel the insured, either as self-insurer or otherwise , to carry insurance. L.A. Mot. Ins. Co. v Cawog, 106 Cal. Rptr. 307, 30 C. A.3d378.

What does Co-Insurance mean?

Cost-sharing arrangement between an insured person and the health insurance company in which the insured person is required to pay a percentage of the cost for the health care services received. Coinsurance typically applies after satisfaction of a deductible. For example, 80% coinsurance may apply after a $500 deductible has been satisfied.

Related Entries of Co-insurance in the Encyclopedia of Law Project

Browse or run a search for Co-insurance in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Co-insurance in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Co-insurance in Historical Law in the Encyclopedia of Law.

Legal Abbreviations and Acronyms

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Related Legal Terms

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Hierarchical Display of Co-insurance

Finance > Insurance > Insurance

Meaning of Co-insurance

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Translation of Co-insurance

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Finance > Insurance > Insurance > Co-insurance

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