Common exclusions | Pet insurance | Insurance | ABI (2024)

FAQs

Common exclusions | Pet insurance | Insurance | ABI? ›

Routine and preventative treatment - Treatments such as vaccinations, spaying, castration, flea, worm and tick treatments, grooming, claw clipping and dental or teeth maintenance. Any costs arising from these treatments or complications arising may also not be covered.

Typical examples of excluded perils under a homeowners policy are flood, earthquake, and nuclear radiation. A typical example of an excluded loss under an automobile policy is damage due to wear and tear.

Dishonest, Intentional, Malicious or Criminal Acts

While E&O policies cover negligent acts, errors and omissions, they generally exclude claims arising out of dishonesty, intentional wrongdoing or criminal acts.

Exclusions include law or ordinance, flood, neglect, government decisions, power failures, earthquakes, and war. All these are events that cannot be predicted and can cause serious loss or damage.

Specific Exclusions means the exclusions listed in the Schedule which will apply to a specific Benefit listed in that Schedule, over and above the general exclusions listed below.

Earthquake, flood, mold, earth movement, and “wear and tear” are some of the perils that are usually excluded.

There are two types of exclusions: mandatory ones that are required by law and permissive ones that are at the discretion of the OIG.

The most common types of perils excluded from "all risks" include earthquake, war, government seizure or destruction, wear and tear, infestation, pollution, nuclear hazard, and market loss.

Understanding the inclusion and exclusion clauses in term insurance is crucial for anyone purchasing a policy in India. Inclusions are the events or circ*mstances under which the policy will pay out, while exclusions are those under which the policy will not pay out.

What are the key person insurance exclusions? ›

The most common key person insurance exclusions are fraud, misrepresentation, and suicide. A claim can be denied in case of a proven instance of intentional dishonesty. During the first two years of every life insurance policy, there is a contractual clause known as the contestability period.

Many E&O policies exclude claims resulting from any of the following: Bodily injury or property damage. Employment-related acts such as wrongful termination and discrimination. Fraud or criminal acts.

Similarly, exclusions are a type of clause that dictate what is not covered by the contract. For example, the policyholder's spouse will not be covered if the policy buyer opts for an individual life insurance contract. The non-coverage of a spouse comes under insurance exclusions.

Neglect – Skipping regular maintenance or failing to correct maintenance issues is considered neglect and is an exclusion. Nuclear Hazards – A loss caused by any form of nuclear energy, whether through a reactor accident or a weapon, is not an insurable with any standard insurance policy.

A business-risk exclusion is a rule in some insurance policies that says they won't cover certain things that happen in a business. This includes things like damage to the business's product, problems with contracts, or recalls of products.

These policies may cover rent or lease payments, relocation costs, employee wages, taxes, and loan payments. Business interruption does not typically cover damages or losses from flooding, earthquakes, and mudslides, although consumers can purchase additional coverages for these specific perils.

Risky activity: Any death due to risky activities, such as skydiving or rock climbing, are usually counted as an exclusion. Substance abuse: If a policyholder's death is the result of drug or alcohol abuse, it may be excluded from their policy.