What is a written insurance contract commonly referred to as?

A written insurance contract is commonly referred to as a policy. This term specifically denotes the formal agreement between the insurer and the insured that outlines the terms, coverage, rights, and responsibilities regarding the insurance provided. The policy serves as a legal document, detailing what is covered, the limits of coverage, premiums, deductibles, and any exclusions.

Other terms, while related to the industry, do not specifically identify the insurance contract itself. An agreement is a broader term that could refer to any mutual contract but lacks the specificity of an insurance contract. A document is too vague and could apply to any written communication, not necessarily conveying the defined terms of insurance coverage. A claim refers to a request made by the insured to the insurer for payment based on the terms of the insurance policy, further distinguishing it from the actual policy itself.