Property or risks not covered by an insurance policy are called

The term that refers to property or risks not covered by an insurance policy is "exclusions." In the context of insurance, exclusions are specific conditions or circumstances that are not included in the coverage outlined by an insurance policy. They help insurers limit their liability and clarify what is not protected, allowing the insured to understand the limits of their coverage.

For example, common exclusions might include natural disasters like earthquakes or floods in a standard home insurance policy. By explicitly stating these exclusions, insurance companies can manage their risk better and ensure that policyholders are aware of what is not included in their coverage.

Endorsements, on the other hand, are amendments or additions to an insurance policy that modify its terms, often to add coverage. Deductions typically refer to deductibles, which are the amounts a policyholder must pay out-of-pocket before the insurance coverage kicks in. Declarations are statements that provide details about the policy itself, including the insured items, coverage limits, and the premium amount.