When you want to find a specific bit of information about your home insurance policy, chances are it's on the declaration page - a condensed overview of your home insurance policy details, including information about your insurer, your coverage limits and how to file a claim.
The declaration page of your home insurance policy can be helpful when you're filing a claim, comparing quotes or just trying to find your policy limits. If you're not overly familiar with your home insurance policy, the declaration page can save you a lot of headaches.
This article will cover:
- What is an insurance declaration page?
- Home insurance declaration page details
- When to use an insurance declaration page
About your home insurance declaration page
A homeowners insurance declaration page can be considered an invoice for your home insurance coverage when your policy is underwritten. Also called a "dec" or a policy declaration, your declaration page usually includes:
Personal and home information
- Names of persons on policy
- Address of house
- Loss payee if home was purchased through a lender
Home insurer information
- Company name
- Your policy underwriting agent
- Contact information
Coverage information
- Coverage limits
- Exclusions
Your policy
- Start and end dates of coverage
- Premium
- Deductible
- Applied discounts
- Claim payout type
The declaration page is usually located at the front of your policy, and could span many pages depending on the amount of insurance coverage you purchase. It may also contain construction specifics of your home, such as the age of your roof.
Your declaration page can usually serve as proof of insurance, should someone such as your mortgage lender require it. However, your insurer should include an evidence of insurance form with your home insurance policy specifically for this purpose.
When you receive your policy, check it to make sure that your declaration page includes all the correct information you've discussed with your insurer. Errors can lead to big problems if you need to file a claim.
When you renew your policy, a declaration page is usually included. Some insurers only include it when your initial policy is underwritten, although you can still request one.
What is on my home insurance declaration page?
The specific coverage and limits your home insurance policy provides will usually be broken down into sections for clarity. While insurers may have their declaration pages broken down into further subsections, it will usually have the following three sections.
Property
This section contains the coverages and limits of the following parts of your property coverage:
- Coverage A: Dwelling: Also called hazard insurance, this portion of your policy covers the actual structure of your house, including the roof, walls and built-in portions such as your water heater, electrical and plumbing systems.
- Coverage B: Other structures: Structures external to the house, such as a detached garage, tool shed, driveway or fence.
- Coverage C: Personal property: This coverage includes your belongings, such as clothes, furniture, television and other things.
- Coverage D: Loss of use: Also known as additional living expenses, this section of your home insurance provides compensation for extra costs that occur should you need to relocate while damage due to a covered peril is repaired in your home. Rent, food and gas are common compensated points of LOU.
Liability
Liability covers your expenses for injury or damage you or other covered parties on your home insurance policy are responsible for:
- Coverage E: Personal liability: This insurance coverage takes care of legal fees that can arise due to injury or property damage to others caused by you or others on your home insurance policy.
- Coverage F: Medical payment to others: This portion of your insurance takes care of medical bills due to injuries to others for which you're at fault.
Additional coverage
This coverage includes add-ons that supplement your standard home insurance, including water backup, service line and scheduled property coverage.
How do I use my declaration page?
There are many uses for your declaration page that can be invaluable if you need information regarding your home insurance coverage. While you should sit down at some point and fully familiarize yourself with your entire homeowners insurance policy, your declaration page can provide you with what you need to know in these instances:
- When filing a home insurance claim: When filing a home insurance claim, your declaration page provides information regarding what coverage you have, policy limits and your deductible in one spot.
- You're looking to optimize your coverage: If you're looking to improve your current home insurance coverage, or are comparing quotes to find a cheaper rate, your declaration page makes it easy to look at your current premium, coverage and limits to see where upgrades can be made. It's also helpful in reducing coverage you don't need. If you're comparing quotes, having an overview of your current coverage in one spot makes looking for better coverage much simpler.
- Renewing your policy: When you're renewing your policy, the declaration page will allow you to make sure that all of your home insurance coverage is correct and as you requested. If there are any errors on the declaration page, notify your insurer of them immediately. If you're filing a claim, the coverage in your home insurance policy is the coverage you have. That's a bad time to find that there's a mistake.
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