Explain the purpose of the co-insurance clause that is applied to building structures. What is an...

Explain the purpose of the co-insurance clause that is applied to building structures. What is an example of how it works?

Expert Solution

When a co insurance clause is included in the insurance plan of building structures, it means that the owner or the insurance holder needs to contribute some share periodically in the overall coverage of the insurance. For example a policy states that the coinsurance of the policy holder is 30 percent. It menas that the policy holder needs to pay that 30 percent on the overall amount monthly or yearly or as per the agreement. When some calamity occurs this amount along with the contribution of the insurance company is paid to the holder.

keosha answered 2 years ago

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