In plain English
This is the part of an insurance policy that lists the cover details for that policy. It states who or what is insured, how long the insurance lasts, and the amounts insured.
In context
Here, “policy schedule” names the document that forms part of the insurance policy and sets out the specific details of the cover, including what or who is insured, the period of insurance, and the amounts insured.
- Situation
- Renewing, changing, cancelling, and retrieving policy documents
- What it communicates
- names a policy file in the documents area
Meaning limits
The term alone does not identify every part of the insurance policy; it refers specifically to the document that states the cover details.
Examples
“After the new machine arrived, the broker updated the policy schedule to include it, while the policy wording stayed the same.”
“At renewal, they compared the policy schedule with the fleet list and found one lorry missing.”