The key information in an insurance policy are as follows:

Policy

This is a contract of insurance between the insurance company and the insured. Once the risk has been accepted and the premium paid, the company will issue a policy. It sets out the terms and conditions of the insurance.

         

The key information in an insurance policy are as follows:

     1.  The name of the insurance company

     2. The policy number

     3. The name and address of the insured

     4. The extent of the insurer's obligation and the types of losses that are covered under the policy and the period of the cover

     5. Details of the property insured

     6. The premiums to be paid

     7. The signature of an officer who signs on behalf of the insurance company

     8. The procedure to be taken in the event of a claim and the method of adjusting estimated premiums

     9. Clear statements of the 'exclusions' or instances when the insurance company will NOT pay compensation