Policy Condition
/ˈpɑːlɪsi kənˈdɪʃən/
Definitions
- (n.) A specific clause or provision in an insurance policy that sets forth requirements, obligations, or limitations that the insured must satisfy.
The policy condition required the insured to notify the insurer promptly after a loss.
- (n.) A contractual term within an insurance agreement that can affect the coverage or claims process based on compliance or noncompliance.
Failure to meet the policy condition voided the insurer's obligation to pay the claim.
Forms
- policy condition
- policy conditions
Related terms
See also
Commentary
Policy conditions differ from warranties in that conditions generally affect coverage but do not automatically void it if breached; precise drafting ensures clarity on obligations and consequences.
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.