Which of the following is NOT a common condition found in an insurance policy?

The insuring agreement is a fundamental component of an insurance policy and defines the scope of coverage provided by the insurer to the insured. It outlines what is covered under the policy, specifying the risks that will be insured against and setting the terms under which the insurer will pay claims.

In insurance terminology, exclusions are specific conditions or circumstances that are explicitly not covered by the insurance policy. Conditions for coverage describe the responsibilities of the insured for the policy to remain in force, such as notifications of loss and cooperation during claims processing. Premium payment requirements outline the financial obligations of the insured, detailing how much and when the policyholder must pay for coverage.

By contrast, the insuring agreement is essential to understanding the nature of the insurance being provided, making it a common and crucial part of any insurance policy.