 Just discovered my husband's mom, 90, has no life ins. He's on only-child & our $ is limited. Any suggestions? |
| She is still in good health, with the exception of some mild Alzheimer's, which makes me wonder if maybe she's forgotten she has it. Her husband passed away almost 40 years ago now, so one ... |
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 House insurance claim question ? |
| I have a small one bedroom rental property that a tree fell on recently. My question is what does depreciation value mean? It was a old frame house. There is major roof damage, all of the ceiling ... |
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 Is my landlord lying? |
| I am currently renting a home in Canada. Our landlord has asked to come and measure each of the rooms for the purpose of "house insurance". The house was for sale for a year almost a year ... |
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 Home insurance, before or after closing? |
| Should I purchase home insurance before or after closing? Closing is only 3 weeks from ... |
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 How many college credits do I need to keep my car insurance with my parents? |
I have Hartford insurance! HELP!! Or at least point me in the right direction!!
Thanks!... |
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 Life Insurance payouts? |
| Hi everyone, can someone explain to me how life insurance goes? If someone has 125,000 in life insurance and passes away, does the beneficiary get 125,000???... |
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 Is it right that an insurance company raises its premiums to ALL employees??? |
Is it right that an insurance company raises its premiums to ALL employees to pay for an increase in treating cancer for several employees?
Why don't the employees with cancer pay a ... |
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 Why do some life insurance companies require a medical exam, and others do not, for the same coverage? |
Okay, my wife and I are looking at life insurance policies. We have decided on getting $100K for me and $25K for her. (We are both in our thirties, and work full-time.)
The two life ... |
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My personal deductable is $250 and for my family it's $500.
It's through my employer.... |
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 I heard of Homeowners insurance being called...? |
| fire insurance and hazard insurance. are they the same?? or how are they different?... |
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Ross F | In Easy Terms, what is "Coinsurance"? |
Dealing with Property Insurance, not health |
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mbrcatz
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In easy terms, it means sharing the loss with the insurance company.
Example: If your policy has a 100% coinsurance clause (I'm going to use nice easy numbers), and it costs $100,000 to rebuild, but you insure it for $50,000, you're 50% insured. So the insurance company pays HALF of every claim - 50%. If you have a $30,000 kitchen fire, they pay $15,000, LESS the deductible. |
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firefiter
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http://en.wikipedia.org/wiki/Coinsurance |
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Paul S
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Co-insurance (or average) as it relates to residential building claims is the principal, as detailed in section 44 of the Insurance Contracts Act 1984, that buildings which are insured for less than 80% of their actual value (with value being either the indemnity or replacement value dependant on what the basis of valuation was declared as at the commencement of the contract) may have any claimed amounts reduced by the proportional amount providing that the insurance contract details that a co-insurance clause applies.
Please note that the above relates to Australia. |
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ernesto_tig
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COINSURANCE
In property insurance, requires the policyholder to carry insurance equal to a specified percentage of the value of property to receive full payment on a loss.
Not carrying the proper insurance amount will trigger the 'coinsurance penalty' ie if you carry 70% of the value of a property in insurance, then have a $10000 claim, the insurer will pay 70% of the claim = $10,000 X .70 = $7000
See http://www.insuranceyak.com/2007/09/20/insurance-definitions-a-c/ |
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Mr. Prefect
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the amount you are responsible for, that the insurance co. does not pay |
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