Any homeowner's insurance product that is not included in a standard home insurance policy is called "add-on" insurance. The home insurance declaration page will list all the insurance products you have purchased and their coverage limits. Your declarations page should list all your standard and add-on home coverage products. Homeowners Insurance Coverage Types Explained Your homeowners insurance declaration page will specify your current policy period, including the date the policy takes effect and the date the policy ends.Īll insurance customers should keep a close eye on their home insurance expiration dates, as there are penalties for letting a home insurance policy lapse. Policy PeriodĪ homeowners insurance policy usually lasts for a one-year period and must be renewed to stay active. You will need this number to pay your premium and to file a claim. The homeowners insurance declarations page provides your identification number, which is also your billing account number. If this home address is not correct, it might cause some problems when you have to file a claim. The dec page will list the home address of the insured house. If you take on a boarder, for example, you may want to update your policy. The homeowner's insurance dec page specifies the names of the people who are covered by the policy: the policyholder, the policyholder's family members and any other insured party living in the insured house. These are the most common sections of a typical homeowners insurance declaration page: Names of the Insured Parties No two declaration pages are exactly the same. When you receive a hard copy of your insurance policy from your insurance company, you should carefully examine the declaration page to make sure that all the information is correct and that everything you and your insurance agent talked about is accurately represented or you may be under- or over-insured. Details of an Insurance Declaration PageĪ homeowners insurance declaration page is usually two pages long. This section also includes definitions for the terms used on the declarations page and in the insuring agreement. This section details the policyholder's responsibilities in the event of a loss. Specific exclusions are typically certain natural disasters ( flood and earthquake) as well as certain types of personal property (vehicles and animals). This section specifies which coverages or perils the insurance policy does not cover, sometimes modifying the insuring agreement's coverages. If the policyholder purchases additional coverage-also known as an "endorsement" or a "rider"-the declaration page should list that new endorsement. According to the National Association of Insurance Commissioners (NAIC), the policy should either be a "named-perils policy," which will list the types of losses covered, or an "all-risk policy" (also called an "open policy"), which lists the types of coverages excluded by the policy. This section specifies the types of perils, or losses, covered by the policy. premium (the amount you pay for your homeowners insurance to be active).Since the declaration page gives the policyholder a tidy, easy-to-reference summation of the entire policy and its various components, there's a good reason why the insurance declarations page is the very first page of a homeowners policy.Ī declarations page is a brief, easy-to-reference summary of your homeowners policy.īefore we take a deep dive into the ins and outs of the declaration page, first-time home buyers may want to familiarize themselves with the policy documents that are included in the four sections of a typical home insurance policy: What Is A Homeowners Declaration page?Īlso called the "dec page" or the "information page," the declaration page specifies the following: A homeowners insurance policy typically has four parts: the declaration page, the insuring agreement, an exclusions section and the general conditions section.
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