Definition - What does Expiration Date mean?
An expiration date, in the context of insurance, is the exact day insurance coverage ends. Many insurance policies offer the option of renewal. Doing so extends coverage beyond the expiration date for a set period. Upon renewal of a policy, a new expiration date applies.
Insuranceopedia explains Expiration Date
Many insurance policies only provide coverage for a certain amount of time. But no matter how long the policy lasts, coverage ceases on the expiration date. If a person renews their policy, then they must continue paying premiums to keep coverage active. It is important to know the exact expiration date of one's policy because claims filed after the date will not be covered.