A disclaimer is a legally significant exemption from a contract or statement. Often, disclaimers do not appear to make much common sense. For example, an insurance policy might have a disclaimer stating that any errors in published payment addresses are not the fault of the insurance company and will not be accepted as valid excuses for late or missing payments. Disclaimers typically appear in the area of a contract or statement colloquially known as "the small print", and they are often couched in exceptionally vague or difficult language. They usually go unread and most likely are not significant-until they are. If you habitually sign contracts without reading through the "small print", then you can expect to be occasionally and unpleasantly surprised by the various disclaimers to which you have unknowingly agreed.