noun
policy
A contract setting out insurance coverage.
The policy describes the damage covered by the insurer.
Etymology
The Italian source names a written document or receipt. In insurance, policy specialized to the document recording the contract and its coverage.
More examples
- She renewed her home insurance policy.
- They compared two policies before choosing one.
- He kept a copy of the policy in his files.
Forms
policy · policies
Similar words
- contract
- Any binding agreement, not specifically insurance.
- coverage
- The protection provided rather than the document setting it out.