In an insurance policy, what part includes the insurer's promise to pay the insured?

The insuring agreement is the part of an insurance policy that outlines the insurer's commitment to provide coverage and details the specific perils or risks that are covered. This section serves as the core of the insurance contract, confirming that the insurer agrees to indemnify or compensate the insured for certain losses, damages, or liabilities that occur within the scope of the policy's terms. Essentially, it provides the fundamental promise made by the insurer and specifies the protections offered, giving insured individuals confidence that they will receive financial support should an insured event arise.

In contrast, the declarations page provides important details about the policy, such as the named insured, policy limits, and the insurance premium, but does not contain the promise of coverage itself. Exclusions specify situations or conditions that are not covered by the policy, helping clarify the limitations of the agreement. Conditions outline the responsibilities of both the insurer and the insured, such as notifying the insurer of a loss or giving timely information about the claim, but again, do not contain the explicit promise to pay. Understanding these sections allows policyholders to grasp the scope and limitations of their coverage effectively.