A homeowner’s insurance declaration page is an important document that forms part of your insurance policy. It can usually be found at the front of your policy paperwork and provides an overall summary of your policy. A homeowner’s declaration page doesn’t necessarily have to be a single page. If your policy has lots of coverage and details, it could cross several pages.
Every time you purchase or renew an insurance policy, you should receive a new declaration page because it’s technically a new agreement each time.
What Information is Included in the Declaration Page?
A homeowner’s insurance declaration page will feature important information about you, your policy, and the policy provider.
Most declaration pages will include the same basic information such as:
- Your insurance policy number
- Your name, address, and contact information
- Name, address, and contact information of the insurance company
- Who and what is covered under your insurance policy
- Type of coverage
- Limits and exemptions to the policy
- Limits of liability
- The duration the policy is valid for
- The cost of the insurance
- Any discounts applied
- Any additional named people on the policy such as banks or leasing companies
Why Is an Insurance Declaration Page Important?
An insurance declaration page is more important than you might think. It’s not just a confirmation of the policy, like an insurance binder. The information outlines everything the policy covers and what it doesn’t, the prices, type of coverage, and any other details of the policy.
This document contains all the necessary information you might need if you ever need to check something. In the event that you want to make a claim, your first stop should be to take out your insurance declaration page.
What to Check in a Home Insurance Declaration Page
In an ideal world, the homeowner’s declaration page would be error-free. However, sometimes things go wrong, and incorrect information may end up on your declaration page.
Common mistakes you might find include clerical errors such as misspelled names or addresses. Another common one is incorrect amounts such as deductibles, prices, coverage amounts, or endorsements.
That’s why it’s so important to check your home insurance declaration page thoroughly to ensure it’s 100% correct. The sooner you do this, the sooner you can rectify any mistakes if they appear.
Home Insurance Declaration FAQs
While the layout might differ depending on the insurance provider, most declaration pages will have each section clearly labeled so they are easy to read and understand. At the top, you will typically find your details and the insurance provider’s details. Next, you will find details of the property and your policy. Further on, there will be details of your coverage, limits, and deductibles.
A homeowner’s insurance declaration page typically contains contact details and names of the policyholder and insurance provider, the price, discounts, and what the policy covers. It details exactly what the insurance covers and what it doesn’t cover.
A declarations page is a formal summary outlining all the details you and your provider need to know. If you wish to make a claim, you can refer to the declaration page for clarification on what is and isn’t covered.
If you have received your declaration page and found errors, the best thing you can do is contact your insurance provider as soon as possible. The sooner you do this, the sooner they can get any mistakes fixed.