Exclusion
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Something your insurance policy specifically does not cover.
Definition
An exclusion is a provision in your insurance policy that eliminates coverage for certain risks, people, property, or situations. Common exclusions include intentional acts, wear and tear, and certain natural disasters. Understanding exclusions is crucial to knowing what protection you actually have.
Example
Flood damage is typically an exclusion in standard homeowners insurance and requires separate coverage.
More General Terms Terms
The amount you pay for your insurance policy.
The amount you pay out-of-pocket before insurance kicks in.
The contract between you and your insurance company.
A request for payment under your insurance policy.
The protection provided by your insurance policy.
The maximum amount an insurer will pay for a covered loss.
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