What are exclusions in an insurance policy?

Exclusions in an insurance policy refer to specific situations, conditions, or events that are not covered by that policy. This means that if a claim arises due to one of these exclusions, the insurance provider would not provide coverage or compensation for those incidents. Identifying exclusions is crucial for policyholders as it helps them understand the limitations of their insurance coverage and ascertain what risks remain uncovered. Effective risk management and understanding your policy can guide decisions about additional coverage or endorsements that may be necessary to fill in these gaps.