Which type of insurance amount is not subject to coinsurance requirements?

The stated amount is a value that is specified and agreed upon by both the insurer and the insured at the inception of the policy. This set amount does not change throughout the policy period and does not require the insured to maintain a specific percentage of coverage in relation to the value of the property insured, which is the essence of coinsurance requirements.

In contrast, other types of insurance amounts, such as statutory, basic, or comprehensive, often involve stipulations where the insured must maintain coverage limits that reflect a percentage of the value of the items insured to avoid penalties in the event of a loss. This is typical in certain types of policies where there is an expectation of insuring a value proportionate to the overall worth of the property to ensure adequate coverage. Therefore, the stated amount's nature allows for flexibility, providing the insured with a predetermined amount of coverage without the burden of adhering to specific coinsurance clauses.