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What is coinsurance?

Are you familiar with coinsurance? Discover how this insurance concept works and its impact on policyholders. Learn about the basics and benefits of coinsurance in our informative article.

UPDATED: Jan 15, 2025Fact Checked

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Nationwide State Farm Allstate

What is coinsurance?

Coinsurance is a term often used in insurance policies, but what exactly does it mean? In this article, we will delve into the intricacies of coinsurance to help you understand its basics, how it differs from copays and deductibles, the factors that influence coinsurance rates, and provide examples of how it works in different types of insurance.Understanding the Basics of CoinsuranceBefore we div...

Ty Stewart

Licensed Insurance Agent

Ty Stewart is the founder and CEO of SimpleLifeInsure.com. He started researching and studying about life insurance when he got his first policy for his own family. He has been featured as a life insurance expert speaker at agent conventions and in top publications.  As an independent licensed life insurance agent, he has helped clients nationwide to secure affordable coverage while making the...

Licensed Insurance Agent

UPDATED: Jan 15, 2025

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It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

UPDATED: Jan 15, 2025

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Free Insurance Comparison

Compare quotes from the top insurance companies and save!

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Nationwide State Farm Allstate