A waiver of coinsurance clause can modify a specified coinsurance or underinsurance condition when its contractual requirements are met.
The distinction that matters
It does not necessarily remove all valuation requirements or every reduction in a claim settlement.
What to check
- Read the precise condition being waived.
- Check valuation and reporting requirements.
- Review remaining limits and excesses.
Example to discuss
A property owner checks whether a waiver requires an agreed valuation and whether that valuation is still current.
This is a hypothetical comparison, not a customer claim or a determination of cover.
Sources and further reading
General information only. The policy, schedule and applicable rules determine the actual position. For a personal decision, use an appropriately qualified adviser or the relevant provider.