Examlex
With no other information to base a judgment on, people assume:
Coinsurance Clause
A provision in an insurance policy that requires the policyholder to bear a portion of the loss in proportion to the coverage amount, encouraging them to insure the property to its full value.
Fire Damage
The destruction or harm caused to property, structures, or objects by fire.
Insurance Company
An entity that provides financial protection and compensation for losses or damages in exchange for payment of premiums.
Coinsurance Coverage
A type of insurance in which the insured pays a share of the payment made against a claim.
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