What does Self Contained Policy mean? Read on to discover the definition & meaning of the term Self Contained Policy - to help you better understand the language used in insurance policies.
Self Contained Policy
An insurance policy that consists of a single document that contains all of the insuring agreements between the insurer and the insured. It is often preprinted and standardized to be utilized for a large number of insureds. Tailoring the coverage to the particular needs of various insureds is accomplished through collateral documents such as endorsements.
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 Self Contained Policy. 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: