The portion of each insurance claim, expressed as a percentage, you pay after you have reached the The amount that you pay before the insurer starts reimbursing you either in part (see coinsurance) or in full. Deductibles can apply per claim (as is usually the case for auto collision and homeowners... More and before you have reached your maximum out-of-pocket payment amount. Coinsurance is very common in health insurance but is not used with auto or homeowners insurance. Sometimes, people (like me, but not in this post) incorrectly refer to coinsurance as The fixed amount that you pay for each provider visit or prescription. The fixed amount can vary depending on the type of provider or prescription, but does not vary based on the services provided at ... More.
I am also a retired property-casualty A professional who assesses and manages the risks of financial investments, insurance policies and other potentially risky ventures. Source: www.investopedia.com/terms/a/actuary.asp More (someone who works with the math and statistics related to insurance). I spent a significant portion of my career building statistical models of all of the financial risks of an insurance company and interpreting their findings to help senior management make better financial decisions. I retired in my late 50’s, which one of my daughter’s friends thought clearly qualified me to write this blog. Read more about Susie Q