co‧in‧sur‧ance /ˌkəʊɪnˈʃʊərəns $ ˌkoʊɪnˈʃʊr-/ noun [uncountable] American English

1. a type of insurance in which the payment is split between two people, especially between an employer and a worker:
health coinsurance

2. insurance that will only pay for part of the value or cost of something

[TahlilGaran] Dictionary of Contemporary English ▲