General Policy Provisions, Conditions, and Exclusions
The skeleton of every policy
Policies are built from declarations, insuring agreement, conditions, exclusions, and definitions (DICE). Declarations identify who, what, when, where, and how much. The insuring agreement is the insurer's promise. Conditions are the insured's duties - the most heavily tested is duties after loss: prompt notice, proof of loss, protecting property from further damage, cooperation, and submitting to examination under oath. Exclusions carve back coverage and are read narrowly.
Limits and money mechanics
Know occurrence versus aggregate limits, sublimits, and how deductibles apply (usually per occurrence). Coinsurance is a condition, not a penalty: an underinsured insured shares the loss, and the penalty can never exceed the loss itself. Other insurance clauses resolve overlapping coverage - pro rata by limit, contribution by equal shares, or primary and excess.
Termination and protected parties
Cancellation rules differ for the insured (usually pro rata refund) and the insurer (short rate or pro rata depending on form and statute). Nonrenewal requires notice. Assignment needs written consent. Mortgagee and loss payable clauses protect a lender's interest independently of the insured's conduct.
Traps
The liberalization clause gives the insured the benefit of broader language adopted during the policy period. Conformity to statute holds the policy to state law. Vacancy (no people, no property) differs from unoccupancy (no people only). Abandonment is never allowed without insurer consent. Suit-against-insurer time limits run from the date of loss, not from denial.
Rule of thumb: if the insured did not satisfy a condition, the claim can be denied even if the loss is otherwise covered.