Explain Coinsurance Clause in Insurance Policies with an Example

question 52

Essay

Explain coinsurance clause in insurance policies with an example.

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Definitions:

Euros

The official currency of 19 out of the 27 European Union countries, which forms the eurozone.

Dollars And Cents

The basic units of currency used in the United States, with dollars representing larger amounts and cents representing fractions of a dollar.

Japanese Yen

The Japanese Yen is the official currency of Japan, known as one of the most traded currencies in the foreign exchange market.

Appreciated

Increased in value or price.