Okuzeka
Insurance vocabulary · Coverage & Exclusions

Coverage

Meaning in insurance, with examples

/ˈkʌvərɪdʒ/nounCore term

In insurance, coverage means: The protection a policy gives: which risks, losses and amounts the insurance company will pay for.

In Turkish: teminat, kapsam, sigorta güvencesi

How it is used

A key word in sales and claims conversations. Coverage can be full, limited, extended or additional; customers ask what the coverage includes, and claims handlers check whether a loss falls within coverage.

Example sentences

  1. Does the coverage include flood damage, or do we need to add it separately?

  2. We extended the coverage to the new warehouse from the first of March.

Common collocations

  • full coverage
  • extend coverage
  • coverage limit
  • additional coverage
  • lack of coverage
  • coverTo include a risk, person or cost in an insurance policy, so that the insurance company will pay if a loss happens.
  • exclusionA situation, cause or type of loss that a policy clearly says it does not cover.
  • policy limitThe highest amount an insurance company will pay, either for one claim, for one type of cost or for all claims during the policy period.
  • sum insuredThe maximum amount an insurance company will pay under a policy, usually based on the value of the property or the amount chosen for a life policy.
  • riderAn optional extra added to a basic policy, especially in life and health insurance, that gives additional cover for an extra premium.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Coverage & Exclusions

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This page explains English vocabulary for learners. It is not financial advice.