Definition - What does Policy Provisions mean?
Policy provisions are clauses in an insurance contract that lay out the exact conditions where coverage is provided for a certain amount and where it is excluded, among other restrictions or stipulations.
Insuranceopedia explains Policy Provisions
Policy provisions in an insurance contract can include such details as coverage periods, exclusions, riders, start dates, and other important information. As it determines whether coverage applies and for what amount, it is important for policyholders to carefully read the details of their policy and understand them. Otherwise, they risk not taking advantage of the protection their policy provides or potential unexpected financial hardships due to losses that are not covered but assumed to have been.
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