First Dollar Coverage
An insurance policy feature that provides full coverage for the entire value of a loss without a deductible. Typically, first dollar coverage exists all the way up to the full amount on the policy. Investopedia Says:
First dollar coverage can be found on health insurance policies, homeowners' insurance and car insurance, among others. This type of insurance involves higher premiums. Related Terms:
Casualty Insurance
Deductible
High-Deductible Health Plan - HDHP
Insurance Score
Premium |