What does the term 'conditions' refer to in an insurance policy?

The term 'conditions' in an insurance policy refers to the specific requirements that policyholders must meet for the coverage to apply. These conditions outline the obligations of both the insurer and the insured and detail the circumstances under which benefits will be paid or claims will be honored. For example, conditions may include timely reporting of a claim, providing necessary documentation, or maintaining certain behaviors or standards (such as not engaging in excluded activities). Understanding these requirements is crucial for policyholders to ensure they comply and receive the intended coverage when needed, reflecting the binding nature of the agreement between the insurer and the insured.