Policy Basics

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Policy Basics
Policy Basics
Policy Basics
Core contract terms that define parties, wording, and policy changes.
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Policy Basics
Additional Insured
Policy Basics
Additional insured in Canada: how limited protection is added to another party's policy.
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Policy Basics
Application for Insurance
Policy Basics
Information the insurer uses to assess and issue requested coverage.
Read more about Application for Insurance.
Policy Basics
Binder
Policy Basics
Temporary confirmation that coverage is in force before the full policy is issued.
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Policy Basics
Condition
Policy Basics
Contract rule or duty that shapes how coverage and claims operate.
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Policy Basics
Declarations Page
Policy Basics
Policy summary showing insured details, selected coverages, limits, and dates.
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Policy Basics
Effective Date
Policy Basics
Date and time coverage is intended to begin.
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Policy Basics
Endorsement
Policy Basics
Endorsement in Canadian insurance: how endorsements change standard policy wording.
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Policy Basics
Exclusion
Policy Basics
Wording that places certain losses, people, property, or situations outside coverage.
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Policy Basics
Expiry Date
Policy Basics
Scheduled end date of the current policy term.
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Policy Basics
Insurance Policy
Policy Basics
Insurance policy in Canada: how the contract sets coverage, limits, conditions, and premium.
Read more about Insurance Policy.
Policy Basics
Insured
Policy Basics
Insured in Canadian insurance: how policy wording determines who actually has coverage under the contract.
Read more about Insured.
Policy Basics
Insuring Agreement
Policy Basics
Core contractual promise stating what the insurer agrees to cover.
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Policy Basics
Named Insured
Policy Basics
Person or organization specifically listed on the policy with core rights and duties.
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Policy Basics
Policy Owner
Policy Basics
Person or entity that owns the contract and controls key policy decisions.
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Policy Basics
Policy Period
Policy Basics
Span of time during which the policy is intended to operate.
Read more about Policy Period.
Policy Basics
Policyholder
Policy Basics
Person or entity that holds the policy, which may differ from other insured statuses.
Read more about Policyholder.
Policy Basics
Rider
Policy Basics
Provision that adds to or changes contract wording, often in life or benefits policies.
Read more about Rider.