Reliable Insurance Network
INSURANCE FAQ
Four Basic Parts of an Insurance Policy
Because an insurance policy is a legal contract, the agreements it contains must be spelled out carefully.
Declarations Usually the first page of a policy, this section contains information about the insured, policy type, amount of insurance, policy period, and costs.
Insuring Agreements The "substance" of the policy, stating the types of losses covered.
Exclusions Describes the losses the policy does not cover.
Conditions States the "ground rules" of the policy, describing the responsibilities of both the company and the insured.
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