Which aspect of an insurance policy outlines the covered perils?

The insuring agreement of an insurance policy is the section that specifically outlines the covered perils. This part of the policy details the types of risks that are covered under the terms of the insurance, making it a crucial element for policyholders to understand what types of damage or loss will be compensated by the insurer.

By clearly stating which perils are covered, the insuring agreement helps both the insured and the insurer define the scope of protection provided. This aids in setting expectations for the insured about what they can claim in the event of a loss, ensuring that there is clarity regarding the insurer's obligations.

The declarations page provides information about the insured, the insurance company, and the policy's limits and premiums, but does not detail the specific perils covered. The conditions section describes the duties and rights of both the insurer and the insured, while the exclusions section lists what is not covered by the policy, further guiding the understanding of the terms but not addressing what is included in coverage.