Policy schedule
The document issued by an insurer that sets out the specific details of your individual policy — who is insured, what is covered, the sum insured, the premium, the excess, and any special conditions or endorsements that apply. It should be read alongside the policy wording (terms and conditions).
What a policy schedule typically contains
Policy number
Your unique reference for this policy — needed for any claim, query, or correspondence with the insurer.
Policyholder details
Your name, address, and the names of any additional insured persons (named drivers, joint policyholders).
Insured property or risk
For home insurance: the property address and type. For motor: the vehicle registration, make, model, and year. For life: the insured person(s).
Sum insured / cover limit
The maximum the insurer will pay. For buildings: rebuild value. For contents: total replacement value. For life: the lump sum or benefit amount.
Premium
The annual (or monthly) cost of the policy, including any taxes or charges. Breakdown of instalment payments if applicable.
Excess
The amount you pay towards each claim. May be split into compulsory excess (insurer-set) and voluntary excess (your choice). Any section-specific excesses are listed here.
Policy period
The start and end dates of cover. The renewal date when the policy must be reviewed or renewed to continue.
Endorsements
Any amendments to the standard policy wording — additions, restrictions, special conditions, or listed exclusions specific to your policy.
Reading your schedule alongside the policy wording
The schedule and the policy wording work together. The policy wording defines general terms, covered perils, exclusions, and the claims process. The schedule records the specific details of your contract. Where there is a conflict between the two, the schedule usually takes precedence (because it records the agreed specific terms).
When comparing policies or reviewing your cover at renewal, check: the sum insured is adequate, the excess is as agreed, any endorsements are correct, and the listed insured persons and risks match your current situation. See our guide on when to review your cover.
Policy schedule FAQ
Frequently asked questions
- The policy wording (or policy document) contains the general terms and conditions that apply to all policies of that type — what is covered, what is excluded, the claims procedure, and the definitions of key terms. It is typically a standard document shared by all policyholders on the same product. The policy schedule is specific to you — it records the individual details of your policy: your name, address, the property or item insured, the sum insured, the premium, the excess, the policy number, and any endorsements or special conditions that apply to your policy specifically. You need both documents to understand your cover fully.
- Endorsements are amendments to the standard policy wording that modify cover for a specific policyholder. They may add cover (e.g., adding specified items to a contents policy), restrict cover (e.g., excluding a pre-existing condition from a health policy), or change the terms (e.g., a higher excess for subsidence claims). Endorsements are recorded in the policy schedule and override the standard wording where they conflict. Always read the endorsement section carefully — this is where individual exclusions and special conditions are recorded. See exclusion and rider.
- Yes. At each annual renewal, a new policy schedule is issued reflecting any changes to the insured details, the premium, or the terms. If you make a mid-term change — changing your address, adding an item, changing your car — you should receive an updated schedule (or endorsement) confirming the change. Keep your policy schedule with your policy documents and check it against the previous year's schedule at each renewal to identify any changes.
- If information in the schedule is incorrect — a wrong address, incorrect vehicle details, an incorrect sum insured — contact your insurer immediately to correct it. An error in the schedule may not void the policy if it was the insurer's mistake, but it can create complications at claim time. If the error was introduced by inaccurate information you provided, it may be treated as a misrepresentation of a material fact.