Insurance policy terms

An insurance policy is a contract between you and an insurer where you pay regular payments called premiums in exchange for protection against financial loss from specific risks, like accidents or damage. The policy outlines what is covered, any exclusions, and conditions to make a claim. If a covered event happens, the insurer may pay for repairs, replacements, or other costs as specified. Understanding your policy helps ensure you know what is protected, your responsibilities, and how to access benefits if needed.