What is the term for the section of an insurance policy that identifies what perils are not covered?

The correct term for the section of an insurance policy that specifies what perils are not covered is "exclusions." This part of the policy is crucial as it clearly outlines the scenarios, events, or specific conditions under which coverage will not be provided. By identifying these exclusions, policyholders gain a better understanding of the limits of their insurance coverage, allowing them to make informed decisions about their risks and potential needs for additional coverage.

On the other hand, limitations pertain to restrictions on coverage amounts or specific conditions under which the coverage applies, but they do not provide a list of what is excluded. Conditions usually address the obligations and duties of both the insurer and the insured, such as claims procedures, but again, this is separate from exclusions. Inclusions, conversely, detail what is covered under the policy, but not what is specifically left out, which is what exclusions focus on. This makes the exclusions section essential for clarity and for avoiding misunderstandings regarding what is protected under the policy.