What is a Policy?

Policy

[pol-uh-see]

noun

1.

A Policy is the contract between the insurer and the insured (the policyholder), detailing the rights and responsibilities of both parties. The Policy outlines pertinent information about covered Risks, Premiums, Deductibles involved, as well as other relevant details.

Have A Question About This Topic?

Related Content

Did You Know This Fact About Freestanding Structures?

Separate structures on your property may have to be insured separately.

To Buy or Not to Buy

The decision whether to buy or rent a home may have long-term implications.

Disability Income

This calculator estimates your chances of becoming disabled and your potential need for disability insurance.