Insurance Policy Exclusions and Limitations

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insurance policyWhen a person purchases an insurance policy, they are entering into a binding legal contract with the insurance company and are referred to as the policyholder.

When choosing a life, property, health, disability or automobile insurance policy, be sure to read the policy in its entirety to make certain that you understand what will and won’t be covered.

Exclusions and limitations are written in your policy and by law; they are to be written in clear understandable language.

However, many times a policyholder pays the premiums regularly, only to find that the insurance company refuses to pay their benefit based upon exclusions and limitations.

Basically, an exclusion excludes certain aspects of coverage. Limitations remove coverage but aren’t as strict as exclusions. A limitation means that there may be coverage at certain times or under certain conditions.

If your insurance company is denying your claim, based upon exclusions and limitations then you should speak with an experienced insurance attorney.