In homeowner's insurance, coinsurance is:
A) an agreement between two or more insurance companies to jointly cover a large risk
B) a contractual agreement to make the insured bear a portion (usually small) of every loss
C) a contractual agreement to prevent over-insurance
D) a contractual agreement that penalizes the insured when under-insured
Correct Answer:
Verified
Q18: Which of the following are not a
Q19: All the following are provisions in the
Q20: Joe owns a house on which he
Q21: Mary's house is burglarized and $22,000 in
Q22: Which of the following is not covered
Q24: With respect to the HO dwelling coverage,
Q25: Alberto has an HO-3 contract with $100,000
Q26: Which of the following perils is not
Q27: Why is there an "ordinance-or-law exclusion" in
Q28: All of the following are available under
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents