noun
1.
A Policy is the contract between the insurer and the insured (the policyholder), detailing the rights and responsibilities of both parties. The Policy outlines pertinent information about covered Risks, Premiums, Deductibles involved, as well as other relevant details.
Prevent major flood damage with this tip.
While protection is never a bad thing, you want to make sure the value of the coverage outweighs the added cost.
If you just recently married, then it may be time to take another look at your insurance policies to see where you can save money.