Which document outlines the terms and conditions of insurance coverage?

The insurance policy is the key document that outlines the terms and conditions of insurance coverage. This policy serves as the contract between the insurer and the insured, detailing what is covered, what is excluded, the coverage limits, and the obligations of both parties. It specifies the rights and responsibilities of the insured in the event of a loss, including how claims should be processed and the conditions under which benefits will be paid.

While an insurance application collects necessary information for underwriting and may influence the policy terms, it does not define those terms. A claim form is used to report a loss and initiate the claims process but does not outline the coverage itself. An endorsement certificate can modify an existing policy or provide additional coverage but is not the primary document that establishes the original terms and conditions. Therefore, the insurance policy is the foundational document that provides a comprehensive understanding of what is covered in an insurance agreement.