Building Coinsurance Calculator

by | Aug 22, 2018

What is Coinsurance?

Building owners, property managers, and landlords must understand the importance of coinsurance and how to calculate if you are potentially under insured.  If you need to determine your coinsurance penalty for business property, grow equipment, or cannabis.  Please visit our online business property coinsurance calculator.

Basically, coinsurance is a percentage ex[pressed as 80%, 90%, or 100% found on the quote, binder, or insurance policy and used to calculate the amount of a loss.  If the amount of insurance coverage for the building is less than the value of the building based on the coinsurance percentage, then the claim will be reduced by a factor less the deductible.   

Most insurance policies define building to mean the building or structure, completed additions, and permanently attached machinery and equipment.  Commercial liability policies will not have coinsurance.  

Why should I care about coinsurance?

The consequence of not being insured to the actual value of the property can result in a reduced claim settlement.

Online Building Coinsurance Calculator