What is a policy schedule?

A policy schedule serves as a comprehensive overview of an individual client's insurance arrangements. It outlines various key details such as the types of insurance coverage the client has, the limits of that coverage, the insured properties or individuals, and the premium amounts due. Essentially, it acts as a customized summary tailored to the unique aspects of the client's insurance program, making it easy for both the insurer and the insured to understand the specifics of the policy in question.

This structured document is crucial for clients to verify their coverage and to ensure that all relevant details are correct. It can also aid in policy renewal discussions, as it clearly spells out what is covered and what is not. This focus on summarizing the insurance program is what distinctly identifies the policy schedule compared to other documents, such as financial statements or claims history reports.