Definitions section - Policy Contract

本站添加: 2026-05-27

[00:00:00]What do you mean by the section definitions in policy contracts?

[00:00:05]As the name suggest, this is going to include all the specific definitions that are used within the policy contract.

[00:00:12]See, most of them, you know, insurance is a unique business.

[00:00:16]Sometimes, each and every term which we define in insurance will have a different meaning compared to the regular meaning for a specific word. So, to avoid any ambiguity, the insurance companies includes this session to have every specific unique words and their definitions. For example, if you're having a personal auto policies, the definition session will say, "What do you mean by covered auto?" So, any autos that drive in a specific road, right?

[00:00:44]With a specific condition. So that, when there is a loss, as long as that particular vehicle satisfies this definition of covered auto, which is there in the definition section, that will be covered. Else, it will not be covered.

[00:00:57]Thank you.