§ 3.11 Coinsurance

• Library: Guide to South Carolina Liability and Property Insurance Law (SCBar) (2019 Ed.)

§ 3.11 Coinsurance

Section 38-75-40 of the South Carolina Code of Laws, entitled "Validity of additional or coinsurance clause," governs the use of coinsurance clauses in insurance policies and provides:

No insurer or agency licensed to do business in this State may issue any policy or contract or insurance covering property in this State which contains any clause or provision requiring the insured to take or maintain a larger amount of insurance than that expressed in the policy or in any way provides

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