Effective date - The date on which insurance under a policy
will begin.
Endorsement - An amendment of an insurance policy that
alters the provisions of the contract.
Excess - Applies to an insurance claim and is simply the
first part of any claim that must be covered by yourself. This can
range from £50 to £1000 or higher. Increasing your excess can significantly
reduce your premium. On the other hand, a waiver can sometimes be
paid to eliminate any excess at all. Always check the excess in
your policy.
Exclusions - Events not covered by an insurance policy.
Typical exclusions include running a taxi service (for motor insurance),
overloading your car, or allowing drivers other than those specified
in the policy to take control of the vehicle.
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