Property Insurance Penalty Hurts You

In most property insurance policies there is a penalty called coinsurance. Here is what you need to know about coinsurance – it never helps the insurance buyer.

Coinsurance = Bad

Ask your insurance advisor if there is a coinsurance clause in your property insurance policies (building, contents, inland marine, computer, business interruption insurance). If the answer is yes, ask if you can have the agreed amount endorsement added so that the coinsurance penalty is removed.

No Coinsurance = Good