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ISG Quick Facts“Coinsurance is a clause requiring the insured to maintain insurance at least equal to a stipulated percentage of value in order to collect partial losses in full. If the insurance is less than the minimum required, that proportion of the loss will be paid which the amount of insurance carried bears to the amount which should have been carried. In other words, if a policy requires 80% coinsurance, the insured would have to carry at least 80% of the property’s full replacement cost.”
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