In insurance, co-insurance or coinsurance is the splitting or spreading of risk among multiple parties.

What is the difference between additional insured and co insured?

An additional named insured will have the same rights as a “Named Insured” but typically won't be responsible for the premium. ... An “Additional Named Insured” will most often be an affiliate, partner or co-owner of the primary insured.

What is co insurance and how does it work?

The percentage of costs of a covered health care service you pay (20%, for example) after you've paid your deductible. Let's say your health insurance plan's allowed amount for an office visit is $100 and your coinsurance is 20%. If you've paid your deductible: You pay 20% of $100, or $20.