Provisions addressed in an insurance policy that eliminate or limit coverage for particular situations, risks, persons, locations, or property types.
Exclusions/limits are common perils not covered under an insurance policy, either because they present too great a risk to your insurer or they’re items you could cover yourself without much difficulty. Some examples might include invasion of your home by a foreign army, routine comfort items such as humidifiers or cough syrup you may need when ill, or a car accident that occurs when your insurance premiums are unpaid or overdue.
When you file a claim, regardless of the type of insurance it falls under, you’ll need to know what types of exclusions/limits your policy includes. To find out, read through your policy, looking for the section titled “Policy Exclusions.” There you’ll find a list of items or situations that are excluded or limited and an explanation of why coverage is limited or not included.
If you’d like to purchase insurance to cover common exclusions/limits, ask your insurance agent for help.