Which document outlines the terms and conditions of an insurance policy?

The insurance policy contract is the formal document that delineates the terms and conditions agreed upon by the insurer and the insured. This comprehensive contract specifies the coverage provided, exclusions, limits of liability, responsibilities of both parties, and the duration of the coverage. It serves as the foundational legal agreement governing the relationship and expectations of the involved parties.

Other documents related to insurance, such as the insurance policy agreement, may exist informally but do not carry the same formal legal status as a contract. The insurance declaration page summarizes key facts about the policy, like the policyholder's name, coverages, and limits, but does not encompass all the detailed terms. The underwriting document is mainly concerned with the evaluation of risk and determination of insurability, rather than specifying the coverage terms themselves. Thus, the insurance policy contract is the most appropriate answer for outlining the comprehensive terms and conditions of the insurance policy.