Free primer · 2 pages
Underinsurance & the co-insurance clause, explained.
A plain-English guide for owners, brokers and managers: what underinsurance is, how a co-insurance clause can affect a partial-loss claim, and why the answer always depends on your own policy wording.
What's inside
What underinsurance and co-insurance mean
In general terms — and why the percentage, the definition of value and any endorsements are set by each policy.
A clearly fictional illustration
Invented figures showing the general idea of a proportional reduction, before deductibles, limits, exclusions and endorsements. Not a claim payable.
What to check at renewal
Five questions to raise with your broker about your policy wording and the figure on your schedule.
Sources and limits
Links to Insurance Bureau of Canada and an insurer's published illustration, plus a clear note that it is general information only.
Get the primer (PDF)
PDF · 2 pages · plain English · for property owners and brokers
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