The span of time during which an insurance policy provides coverage, typically six months or one year. Claims are only covered for events that occur within the policy period. The start and end dates appear on your declarations page.
Related Terms
Declarations Page
The section of an insurance policy that summarizes key information including the policyholder name, covered property, coverage amounts, deductibles, premium, and policy period. Often called the "dec page," it is the first page of your policy and serves as a quick reference.
Effective Date
The date on which an insurance policy begins providing coverage. No claims can be filed for events that occur before the effective date. It is listed on your declarations page and is sometimes different from the date you purchased the policy.
Premium
The amount you pay to an insurance company to maintain your coverage, typically billed monthly, quarterly, or annually. Premiums are determined by factors such as risk level, coverage amount, deductible, location, and claims history.