What is a policy exclusion?

A policy exclusion is a provision in an insurance policy that states an event or type of damage to property is not covered by the insurer. In Maine, policy exclusions are very important to understand before entering into an insurance agreement. An important example of a policy exclusion is coverage for damage caused by floods, earthquakes, or landslides. In these cases, the insurer will not cover any damage or losses incurred as a result of these natural disasters. Other examples of policy exclusions in Maine include intentional damage to property, damage caused by terrorism, and damage caused by war or nuclear accidents. Knowing these policy exclusions is important to determine what the policy covers and what you will be responsible for in the event of any damage or losses. It is important to read policy exclusions carefully to ensure you understand what is not covered and that you do not accidentally leave yourself exposed to unexpected expenses.

Related FAQs

What is the process for submitting an insurance claim?
What is a self-insured retention (SIR)?
What is a no-fault claim?
What is a subrogation recovery?
What is the difference between a policyholder and an insured?
What documents do I need to submit with an insurance claim?
What is an insurance deductible?
What is a retroactive date in an insurance policy?
What is a statement of fact?
What is a third-party insurance claim?

What is a policy exclusion?

Related FAQs

Related Blog Posts