An agent will usually explain your policy to you when you purchase homeowners insurance for the first time. You might want to review your policy if you need to file a claim. It can be daunting to read through an insurance policy if you’ve never done so before.
The insurance declarations page will contain the most important information regarding your coverage. This article will describe what a declarations pages is, where to find it, and why you need one.
What page is a homeowner’s insurance declarations page?
The homeowners insurance declarations page is usually the first page of your home insurance policy document that you receive when purchasing insurance. The declarations page may be multiple pages depending on the policy. It may be called the DEC page, or the policy declaration page by some insurance companies.
The most important information about your policy is on the homeowners declarations page. It is your guide to everything you need about your home insurance. It can help you to look over your declarations page in case your home is damaged or you need to file for a claim.
Here’s a list of information you can find on the declarations page of your insurance policy:
- Additional coverages: These can be found in the coverages section at the bottom of your declarations page. This section will include any additional coverages that you have added to your policy, such as optional drain backup coverage.
- Limits on coverage: You will see the dollar amount next each type of coverage in the same section as your homeowners insurance declarations page. This is the maximum amount that your insurance provider will pay for a loss falling under this coverage category.
- Coverages: The included coverages are listed at the bottom of your declarations page, just like your add-on protections. This section will provide a summary of what your policy covers, such as coverage for your home, your personal property, and other structures.
- Deductible It is usually possible to find your deductible, which is the amount that you will have to pay out of pocket for a covered loss. This information can be found in the middle section of the declarations page next to your coverages.
- Discounts: All discounts that your insurance provider has applied to lower the cost of your coverage are most often listed at the end of your homeowners declarations.
- Contact details and name of the insurance company: These are usually located at the top page of your declarations.
- Limits on liability coverage: Similar to your other coverage limits and declarations pages, the limit on your liability coverage should appear in the middle.
- Losses not covered by insurance: Insurance providers might list exclusions, such as flood or earthquake, with the coverages at the top of the page.
- Named insures, such as banks or mortgage companies: These details are most often located at the top of this page.
- Policy effective date and expiration: These are the key details that show you when your coverage is in place. These dates are usually listed at the top of the page.
- Policy number This number is usually listed at the top of homeowners insurance declarations pages. If you have any questions or need to file a claim, this number will be used by the company. This number acts as your identification number.
- Name and address of the policyholder: Your personal information should be at the top. Check that everything is correct.
- Premium: The premium you pay to insure your home is the amount that you pay. You may also be able to list the payment method you plan on using (e.g. monthly, quarterly, or in-full at start of policy term). Your premium information is usually at the bottom of the page.
- Types of policies: You should see homeowners insurance or home insurance somewhere near the top of your homeowners declarations page. This indicates that your policy covers your home.
Review your declarations page before you buy a new policy. Make sure that the information is correct. Don’t wait to file a claim if you discover an error such as a wrong deductible, or policy type.
Reach out to an agent if you have any questions regarding anything on your declarations page.
How to obtain an insurance declaration page
You will be provided with a copy of the entire policy once you have purchased an insurance policy. Depending on the insurance company, this document may be sent in hardcopy or electronically.
Your declarations page will appear at the top of your document if you have a copy your insurance policy forms. The heading will typically say “Declarations Page” (or a similar designation). You can request a copy of your policy by calling your agent or contacting customer service.
Keep a copy of the new copy handy in case you need it. Agents recommend that you have a second copy of important documents, which you can keep outside of your home. Consider scanning the document and saving it digitally.
An agent can help you understand your policy if you have difficulty understanding it.
What is the importance of a declarations page?
The most important part of your insurance policy is your homeowners insurance declarations page. It provides valuable information for homeowners. It contains information about your premium, as well as any fees.
People often don’t bother to look at the declarations page as they assume that they won’t have to file a claim. Home insurance claims are much more common than you might think. It is important to review your policy documents immediately after something happens. These are some situations where you might need to review your declarations page.
You must file a claim
You should review your declarations page if your property or personal items are damaged.
If you feel you have grounds to file for a claim, make sure you check your policy. The declarations page of your policy contains details about what is and is not covered. This page will also include endorsements if they are available.
You have a question about your coverage limits
You will need to determine the coverage limit if you want to file a claim or confirm that the loss is covered by your policy. The maximum amount that an insurance company will pay to cover a covered loss is your coverage limit. This will help you decide if the insurance company will cover your loss completely or if you will have to pay some of the expenses yourself.
You would like to reduce your premium
You may find that the premium you pay is too expensive and that you are looking for ways to save money. You can see the amount you have paid and any discounts that were applied on your declarations page.
Check your declarations page for details about your coverage, deductible, and any additional coverages that may be raising your rate. To ensure that you get an accurate comparison of your insurance company with others, you can check your declarations page if you change insurers.
Questions frequently asked
Is a declarations-page proof of insurance?
Your declarations page will be accepted as proof if you have to prove insurance for a mortgage lender. Your insurance company may provide additional evidence of your insurance form along with your policy documents. This is usually preferred.
What is an insurance declarations page?
The first page of your policy is the insurance declarations page. The page will include information about you, your insurer, your coverages and your home address.