What is an insurance policy?

An insurance policy is a contract between an insurance company and an individual or group. It protects the individual or group from financial loss resulting from a variety of circumstances. In New Hampshire, an insurance policy must meet certain requirements as stated in the state’s insurance law. An insurance policy must include certain information required by the state, such as the name of the insured, the name of the insurer, the policy period, the amount of coverage provided, and the premium. It also outlines the conditions and exclusions of the policy. These conditions and exclusions often include information about the risks the policy covers and the circumstances in which the insurer will not provide coverage. In addition to the specific information that must be included in the policy, the insurance law in New Hampshire contains restrictions on unfair trade practices that insurance companies must abide by. These restrictions include the ability of the insured to cancel the policy, the right to receive an insurance renewal, and the right to contest any denial of a claim. By understanding the requirements of the insurance law in New Hampshire, as well as the insurance policy itself, individuals can make sure they are adequately protected from financial loss.

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What is an insurance policy?

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