First Dollar Coverage

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DEFINITION of '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 EXPLAINS 'First Dollar Coverage'

First dollar coverage can be found on health insurance policies, homeowners' insurance and car insurance, among others. This type of insurance involves higher premiums.

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