In a property policy, what does the term exclusions refer to?

• A. Perils not covered
• B. Premium calculations
• C. Insured's responsibilities
• D. Endorsements details

Answer: (A)

Exclusions define what the property policy will not cover. They spell out specific risks or situations the insurer won’t pay for, even if a loss occurs that might seem related to the policy. This sets clear boundaries so you know what isn’t insured—for example, events like flood or earthquake (often requiring separate coverage), wear and tear or neglect, intentional damage, or government actions. Endorsements can modify or add coverage, while the insured’s post-loss responsibilities and how premiums are calculated are separate parts of the policy.