Time Policy

Business, Legal & Accounting Glossary

Definition: Time Policy


Time Policy


Full Definition of Time Policy


A time policy is a form of marine insurance policy that protects the policyholder for a set time period. Typically, the policy has a maximum duration of twelve months. The policy expires at the end of the stated insurance period.

Voyage policies are the closest counterpart to time policies. These latter types of maritime insurance contracts cover the entire voyage, from departure to arrival. Time policies, on the other hand, require the insured to specify how long they want their coverage to last, which might be based on the projected length of a single, whole voyage or a series of planned excursions taken over a specified time period. It is also feasible to buy blended insurance that incorporate aspects of both time and voyage policies.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/time-policy/
Modern Language Association (MLA):
Time Policy. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
March 28, 2024 https://payrollheaven.com/define/time-policy/.
Chicago Manual of Style (CMS):
Time Policy. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/time-policy/ (accessed: March 28, 2024).
American Psychological Association (APA):
Time Policy. PayrollHeaven.com. Retrieved March 28, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/time-policy/

Definition Sources


Definitions for Time Policy are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th January, 2022 | 0 Views.