COMPONENTS OF INSURANCE POLICY.

 While the details of an insurance policy may vary depending on the type of insurance, there are some common components that most insurance policies contain. 

1. Premium: The amount of money you pay for insurance coverage.

2. Deductible: The amount of money you must pay out of pocket before insurance coverage kicks in.

3. Coverage Limit: The maximum amount of money an insurance company will pay out for a covered loss.

4. Policy Exclusions: The specific events or circumstances that are not covered by your insurance policy.

5. Riders: Optional add-ons to your policy that provide additional coverage for specific events or           circumstances.

6. Policy Terms: The length of time your policy is in effect.

Understanding the basics of insurance is essential to protecting your finances and future. By understanding the different types of insurance available and what constitutes an insurance policy, you can make an informed decision about which policy to purchase and how much coverage you should receive. If you have any questions or need assistance in choosing the right insurance policy for your needs, feel free to contact a licensed insurance professional.