Conisurance Formula

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Definition: Conisurance Formula

Conisurance Formula
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Full Definition of Conisurance Formula

A formula used to determine the reimbursement value of a house in the event of loss. The formula used is: (Actual Coverage Amount / 80% of Replacement Value) x Amount of Loss = Actual Reimbursement Amount. If the actual reimbursement amount is greater than the replacement value listed in initial insurance stipulations, another insurance company supplies the extra funds.

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April 20, 2024 https://payrollheaven.com/define/conisurance-formula/.
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Conisurance Formula. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/conisurance-formula/ (accessed: April 20, 2024).
American Psychological Association (APA):
Conisurance Formula. PayrollHeaven.com. Retrieved April 20, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/conisurance-formula/

Definition Sources

Definitions for Conisurance Formula are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.