How is coinsurance typically expressed?

Coinsurance is typically expressed as a fixed percentage because it represents the portion of costs that a policyholder is responsible for paying after the deductible has been met. For example, in a health insurance plan, if a coinsurance rate is set at 20%, this means the insured is responsible for paying 20% of the allowable medical expenses, while the insurance company covers the remaining 80%. This percentage reflects the shared responsibility between the insurer and the insured in covering healthcare costs. Understanding coinsurance as a percentage highlights the distribution of financial responsibilities, which is a key aspect of health and property insurance policies.