Provisions addressed in an insurance policy that eliminate or limit coverage for particular situations, risks, persons, locations or types of property.
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 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.