Which term describes the different limits and deductibles associated with a coverage?

The term that accurately describes the different limits and deductibles associated with a coverage is "Coverage Terms." This term encompasses the specific conditions outlined in an insurance policy regarding the extent of coverage and financial responsibilities that apply in various situations. Coverage terms detail how much an insurer will pay in the event of a claim (the limit) and the amount that the insured is responsible for before the insurance coverage kicks in (the deductible). Understanding coverage terms is crucial for policyholders, as they define the parameters of protection for different risks.

In contrast, the other options do not specifically refer to the limits and deductibles associated with coverage. Policy adjustments refer to the changes that can be made to an insurance policy during its term, while claim limits would typically specify the maximum amount paid per claim but do not encompass the deductible aspect. Renewal conditions relate to the terms under which a policy must be renewed, rather than the specifics of coverage limits and deductibles.