For many church leaders, insurance coverage and terms can be confusing and complex. When purchasing or reviewing coverage, it is helpful to understand the key terms you will encounter. Consider these core terms and topics below.
The Insurance Contract: Most church insurance policies follow a similar format and structure that includes declarations, common conditions, and specific forms for each line of coverage. The declarations contain basic information about the policy, including the name of the insured, the inception and termination dates of the policy, the policy number, and the amount of the premium. The common conditions include information that applies to several categories of coverage such as property and liability. That way the information does not have to be repeated for each line of coverage that is purchased. Finally, forms are then used to address the specific provisions for each line of insurance.