Okuzeka
Insurance vocabulary · Policies & Contracts

Policy wording

Meaning in insurance, with examples

nounCommon term

In insurance, policy wording means: The full legal text of a policy, explaining the cover, exclusions, conditions and duties of both sides.

In Turkish: poliçe şartları, genel ve özel şartlar, poliçe metni

How it is used

Used by underwriters, brokers and lawyers when they discuss what a policy really says. Wordings are drafted, reviewed and compared, and disputes often depend on a single clause. Also called the 'terms and conditions'.

Example sentences

  1. According to the policy wording, the cover applies only to buildings with an alarm system.

  2. The broker compared the policy wordings of both insurers before recommending one.

Common collocations

  • standard policy wording
  • read the policy wording
  • draft a wording
  • clause in the wording
  • policy scheduleThe page or section of a policy that lists its specific details: the policyholder, what is insured, sums insured, limits, deductibles, premium and dates.
  • exclusionA situation, cause or type of loss that a policy clearly says it does not cover.
  • policyThe written contract between an insurance company and a customer that sets out what is covered, for how long, for how much and on what conditions.
  • endorsementA written change added to an existing policy, for example to add a driver, change an address or increase the sum insured.

More terms: Policies & Contracts

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