1. covered by joint insurance; insured together with one or more other parties under the same policy
Usage: insurance/legal context

1. past tense and past participle of coinsure; to insure jointly with another party or parties
Usage: insurance/legal context

Examples

• The property was coinsured by two different insurance companies to spread the risk.
• Both spouses were coinsured on the homeowner's policy.
• The lender required that the mortgage be coinsured with a second carrier.
• They coinsured the vehicle to ensure adequate coverage limits.
• Under the coinsured arrangement, each insurer paid their proportional share of the claim.