Exclusion
TL;DR
An exclusion is a circumstance or type of loss the policy does not cover. Exclusions define the boundary of a guarantee as much as the covered perils do.
Details
Common exclusions include intentional acts, war and nuclear risk, and losses outside the declared use. On this wiki, every product page lists the document's exclusions verbatim, because they are the most consequential and most-overlooked part of a contract.
Related
Sources
- General principles of insurance.