What is a coinsurance clause in a commercial property policy?

It requires you to insure your property to a certain percentage of its value (usually 80% or 90%); failing to do so may result in reduced claim payments.

A coinsurance clause requires you to insure your property to a certain percentage of its value, typically 80-90%. If you fail to meet this requirement, your claim payout may be reduced.

A business that underinsured their property faces reduced claim payouts due to the coinsurance clause in their policy.

For businesses with multiple locations, explore blanket coverage to simplify policy management and ensure consistent protection.