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What is coinsurance and how does it affect my building insurance?

Co-Insurance can have a drastic affect on how an insurance loss is valued because not meeting coinsurance requirements can mean you receive payment based on Actual Cash Value instead of Replacement Cost.

Basically, Co-Insurance is the percentage in which you need to be within in order to have your loss valued at replacement cost.

Watch the video to learn more!

Watch this video “What is coinsurance and how does it affect my building insurance?” for more details:

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This is video #35 of a one hundred insurance video series that The Murray Group is producing to provide insurance consumers with quick, valuable answers to their everyday insurance questions.

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Disclaimer: This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.

created by Ryan Hanley