The most important information about your homeowners insurance policy is found on the page called “Homeowners Insurance Declarations”. This overview will explain everything you need to know, including how much coverage you have and when it takes effect.
Your entire homeowners insurance policy may be too complicated or long for you to understand. It’s worth taking the time to review the declarations page to ensure you have the coverage that you need.
Where can I find my homeowners insurance declarations page
Your insurance company will usually send you a copy the declarations page when you purchase or renew a homeowners plan. Logging in to the website or mobile app of your insurer may allow you to view your policy details.
In the event that you make any changes to your coverage within your policy term, your insurer will likely reissue your declarations page to reflect the new limits.
What is on a page for home insurance declarations?
Although the layout of a page for homeowners insurance declarations pages varies from one company, you will usually see the following:
The start and end dates of your policy. One year is a typical term for homeowners insurance.
Address of the insured property. It may also appear on the declarations page.
The names of all persons covered by the policy. These are the legal owners of your home. If you have a mortgage lender, the address and name of that lender may be listed on the page.
The policy number and information about your insurance company. The policy could include the name, contact details, and address of your local agent.
Limits on your coverage. Your coverage limits. A homeowners policy typically covers six types of coverage. Each type will have its own limit, which will be listed on the declarations page. These are:
Dwelling. It covers the structure of your home.
Loss of use. It is a good idea to move elsewhere if your home becomes unlivable due to a covered disaster.
Personal liability. If you are found guilty of causing harm to another person or their property, this payment will cover your legal defense.
Payments for medical expenses to others. Injuries to other people on your property are covered.
Additional coverage may be listed on your declarations page, also known as endorsements. These are optional coverages that you can add to your policy. They might include coverage for identity theft or water damage due to backed-up drains.
Your deductibles. Your deductible is the amount that is subtracted from a claim payment. A deductible can be a fixed amount such as $1,000 or a percentage your coverage. Be aware of multiple deductibles that may apply to different types and types of claims. You might have a $1,000 maximum deductible on most claims, but a 2% limit for hurricane damage.
Your premium and any discounts. The declarations page will also include the total cost for your policy.
What’s on a page for home insurance declarations
While the declarations page gives you an overview of your coverage, it is important to know all details when it comes insurance.
The declarations page might state that you have $100,000 of coverage for personal items, but may not say that you are covered for jewelry theft up to $1,500. Another example is the declarations page which states that your coverage covers the structure of your house up to $250,000. It doesn’t mention, however, that coverage will not apply to earthquake or flood damage.
You will need to review the policy for details like this. To get a better understanding of your coverage, look for words such as “exclusions” and “special limits”.
How to use the homeowners declarations page
You should carefully read the declarations page to ensure that your name, address and coverage details are correct. Reach out to your agent if you have any questions or concerns.
If you have a mortgage lender, they may request to see your declarations page in order to verify that you have adequate insurance.