For property insurance, as long as coverage is at least 80 percent of the value of the property, the property is considered fully covered under the coinsurance provision.

Question

Quizplus · Accepted Answer

The coinsurance provision in property insurance policies typically requires that the policyholder maintain coverage of at least 80% of the property's value to be considered fully insured and avoid penalties in the event of a partial loss.

For Property Insurance, as Long as Coverage Is at Least