Insurance Policy
/ɪnˈʃʊərəns ˈpɒlɪsi/
Definitions
- (n.) A legal contract between an insurer and insured that outlines terms, coverage, conditions, and obligations regarding risk protection.
The insurance policy specifies what damages are covered in case of a fire.
Forms
- insurance policies
Related terms
See also
Commentary
An insurance policy is the foundational document in insurance law establishing the insurer-insured relationship and is distinct from informal assurances or quotes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.