Coinsurance is usually used in which of the following types of insurance contracts?

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Coinsurance is a common feature in property insurance contracts. It is used to ensure that the policyholder is insuring their property adequately by requiring them to carry a percentage of the value of the property. If the policyholder fails to meet the coinsurance requirement, then they may not receive full compensation in the event of a loss. Coinsurance is not typically used in travel insurance, workers' compensation, or ransom insurance contracts.

Coinsurance Is Usually Used in Which of the Following Types