Insurances: Exclusions, Policy schedule and Coinsurance

Description

This Skill Bit defines key insurance concepts, starting with “exclusions,” which limit coverage and highlight the importance of reviewing what’s not covered. It also explains the policy schedule, outlining its key details and significance in understanding coverage specifics. Additionally, it covers “coinsurance,” describing how costs are shared between the policyholder and insurer based on a predetermined percentage, ensuring both parties contribute to the claim.

Duration approx. 5 Min.

Tier: advanced