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

The insuring agreement is a fundamental component of an insurance policy, detailing the coverage the insurer provides to the insured. It outlines the terms, conditions, and the scope of protection against certain risks, which is essential for understanding what the insurance policy intends to cover. This makes the insuring agreement a standard and necessary part of any insurance contract.

In contrast, while subrogation, appraisal, and cancellation and nonrenewal are important aspects of insurance policies, they are often considered procedural or conditional elements rather than core components. Subrogation refers to the insurer's right to pursue a third party responsible for a loss after paying a claim, while appraisal is a method for resolving disputes about the amount of a loss. Cancellation and nonrenewal relate to the termination of the policy but do not define what the policy covers. Thus, the insuring agreement is indeed a common condition found in every insurance policy, setting it apart from the other options listed.