How to Read a Motor Insurance Policy Wording

A policy summary helps orientation, but the issued schedule, wording and endorsements form the contract.

Read in this order

1. Schedule: insured name, vehicle, value, use, period and premium.
2. Definitions: special meanings assigned to ordinary words.
3. Insuring clauses: the events and losses the insurer agrees to cover.
4. Exclusions: events, conduct, property or costs that are not covered.
5. Conditions: notification, cooperation, inspection, payment and recovery duties.
6. Deductibles and depreciation: amounts or portions retained by the insured.
7. Endorsements: additions or changes that may override standard wording.

Resolve uncertainty before purchase

Ask the insurer to identify the exact wording version and answer material questions in writing. Save the proposal and issued documents. A webpage description may be updated later and should not replace the policy copy.