What is another word for coinsurance?
Pronunciation: [kˈɔ͡ɪnʃʊ͡əɹəns] (IPA) 
Coinsurance is a term that commonly appears in insurance policy details. It is defined as the shared liability between an insurance company and the policyholder for the payment of a claim. Sometimes, this term may not be easily understood, and it is helpful to know alternative words with similar meanings. Synonyms for coinsurance are shared responsibility, joint obligation, mutual commitment, and divided liability. All these terms imply that both parties take a percentage of the risk of the loss, damage, or expenses covered by the insurance policy. With these synonyms in mind, it becomes easier for people to comprehend the coinsurance clause in their insurance agreement and manage their financial exposures effectively.
