Typically, in fire insurance policies, a ______clause provides that if owners insure the
Property up to a specified percentage of its replacement value-usually 80 percent-they will be fully reimbursed for any loss.

Question

Quizplus · Accepted Answer

The correct term is "coinsurance." In fire insurance, a coinsurance clause requires policyholders to insure their property to a specified percentage of its value (often 80%) to receive full compensation for any loss. This encourages policyholders to insure their property adequately.

Typically, in Fire Insurance Policies, a ______Clause Provides That If