[koh-in-shoor-uhns, -shur-]
insurance underwritten jointly with another or others.
a form of property insurance in which an insurer assumes liability only for that proportion of a loss which the amount of insurance bears to a specified percentage of the value of the property.

1885–90; co- + insurance Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
coinsurance (ˌkəʊɪnˈʃʊərəns, -ˈʃɔː-)
1.  a method of insurance by which property is insured for a certain percentage of its value by a commercial insurance policy while the owner assumes liability for the remainder
2.  joint insurance held by two or more persons

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
No coinsurance if transfer is required by the health plan.
For out-of-network care, members usually pay a deductible and coinsurance.
There will be no coinsurance or copayment applied to this benefit, and
  beneficiaries will not have to meet their deductible.
Cost sharing comes in the form of copays, coinsurance, and deductibles.
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