What does Schedule of Insurance mean? Read on to discover the definition & meaning of the term Schedule of Insurance - to help you better understand the language used in insurance policies.
Schedule of Insurance
A schedule of insurance is a detailed list of property or other items that will be covered by an insurance policy. The schedule may also include the exact benefits, premiums, and other costs associated with the policy. The purpose of a schedule of insurance is to clarify for the insurer and the insured exactly what is covered.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Schedule of Insurance. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: