General Concepts
Policy Period
The policy period, also called the policy term, defines the start and end dates of your coverage — losses occurring outside this window are generally not covered.
Last reviewed: May 2026 · Editorial methodology
Definition
Every insurance policy has a declared policy period, most commonly 6 or 12 months for personal lines like auto and home, and one year for most commercial policies. Coverage typically begins at 12:01 a.m. on the effective date and ends at 12:01 a.m. on the expiration date — a precise standard that prevents disputes over same-day incidents. Events that occur during the policy period but whose claims are filed afterward may still be covered, depending on whether the policy is written on an 'occurrence' or 'claims-made' basis. For example, an occurrence-based home policy covers a storm that strikes on day 180 of the period even if you don't file until three months later. Renewing before the expiration date ensures no gap in coverage; even a one-day lapse can create complications, including the loss of continuous-coverage discounts.
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Cover Forge USA Editorial Team
Editorial Lead
This article was researched and written by the Cover Forge USA editorial team against federal sources (NAIC, CMS, FEMA, DOL, SSA, state DOIs) and standard policy forms. Bylines organize content by topic — they do not assert individual licensure. See our editorial-policy for details.
Reviewed 2026-06-14
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