What does Standard Policy mean? Read on to discover the definition & meaning of the term Standard Policy - to help you better understand the language used in insurance policies.
A standard policy is an insurance policy that covers standard risks or one that provides mandated or government recommended coverage. In other words, standard policies are insurance policies that provide coverage for general or normal risks within a particular field of insurance. Standard policies can also refer to policies offered by many different companies that have the same coverage.
We hope the you have a better understanding of the meaning of Standard Policy.