Which section of an insurance policy contains the insurer's promise to pay?

The insuring agreement is a crucial part of an insurance policy where the insurer outlines its commitment to provide coverage. This section specifically details the insurer's promise to pay for covered losses in return for the premium paid by the insured. It defines the scope of coverage, including what is insured, the perils covered, and the duties of the insured and the insurer in the event of a claim.

By including this promise, the insuring agreement establishes the foundation of the insurance contract, making it clear what obligations the insurer will fulfill in the event of a covered loss. This information is vital for the policyholder to understand the protection being offered.

Conversely, the declarations page provides important information such as the policyholder's name, the insured properties, and the limits of coverage, but it does not contain the promise to pay. Exclusions outline what is not covered under the policy, which is essential for understanding the limits of the coverage but does not relate to the insurer's commitments. Additionally, endorsements are amendments to the original policy that can enhance or modify coverage but are not the primary source of the insurer's promise to pay. Therefore, the insuring agreement is the accurate choice for identifying where the insurer's obligation is specified within the policy.