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What Is A Home Insurance Declaration Page

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What Does An Insurance Declaration Page Cover

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An insurance declaration page will sum up the key data from your policy, which should include:

  • The policy number
  • Name and address of the policyholder
  • Whom and what is covered
  • The insurer name, address, and contact info
  • What type of coverage the policy includes
  • Limits and deductibles
  • How long the policy is valid for
  • Discounts and surcharges
  • Cost of the insurance, often divided into payments
  • Other named insureds, such as banks
  • Limits of liability

Many declaration pages will also include the process of how to file a claim. If this is not on the dec page, it should be listed in a separate part of your paperwork.

How To Get Your Homeowners Insurance Declaration Page

After you purchase home insurance and go through the underwriting process, your insurer will likely make your dec page and policy available to you. If you dont have a declaration page, contact your insurance company to see if they can send you a physical or digital copy. You may also be able to access your dec page online through the carriers website or app.

Senior Editor & Licensed Home Insurance Expert

Pat Howard is a senior editor and licensed home insurance agent at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

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The Homeowners Insurance Declaration Page

If youve ever been required to present a homeowners insurance declaration page, youre probably somewhat familiar with this step of the insurance application process.

However, if youre a first-time home insurance customer, you might not know what this portion entails.

This presents a sort of policy cheat sheet, something you and your insurer can refer to when in need of certain information. You may look at it when figuring out what day you need to renew your policy, for instance, while your insurer could use it to access to your address in case they need to send you crucial information.

You can find out more about homeowners insurance declaration pages with our quick policy guide. You can answer any of the following questions you may have about this piece of information below:

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How Do I Find And Use My Insurance Declaration Page

As soon as you take out a policy, your insurer should email you an insurance binder, which serves as a temporary copy of your declaration page. Review the declaration page in the binder to confirm your coverage information and use it as temporary proof of insurance if you need to register your car or you get into an accident. In addition, they’ll mail you a paper copy of your policy within a few business days. The declaration page is typically near the front of your insurance packet and will include all of the information above.

Immediately after you receive your new home or auto insurance policy, verify that the information on the declaration page is correct. Common errors include misspellings of the name or address of the insured, but check for more significant errors as well. You don’t want to find out, after filing a claim, that you don’t have the coverage you thought you’d signed up for, or that you have a higher deductible than you expected.

If you experience a life change that would affect your insurance policy, be sure to notify your insurance provider. They will then send an updated declaration page.

As when you experience a life change, changes you make to your policy should also initiate a new declaration page. For example, if your premiums increase due to a claim, or if you add a child to your insurance policy, you should expect a new policy and declaration page to be mailed to you.

Understanding Your Homeowners Insurance Declaration Page

Sample Homeowners Insurance Policy  Home Sweet Home

Home » Understanding Your Homeowners Insurance Declaration Page

Be honest. When you receive the 40+ double-sided pages explaining your homeowners insurance policy, what do you do with it? If you said read it front to back immediately, youre one of only 12 people who did so in the last ten years.

For most people, the gigantic stack of paper that comprises a homeowners insurance policy looks downright boring, if not a bit intimidating.

But theres good news. You have a secret weapon in the fight to understand your insurance coverage: your homeowners insurance declaration page.

The declaration page is a summary of your homeowners insurance policy. . The information contained on this page provides the information you need to take an active role in ensuring that your coverage is correct. No need to read hours of snooze-worthy legalese.

Admittedly, even the declaration page can look intimidating at first glance so lets break it down together. For the sake of simplicity, we will work through the most common homeowners policy form, the HO-3.

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Why Do You Need A Declaration Page

A declaration page is proof of homeowners insurance, which mortgage carriers typically request on an annual basis. The information on this page can be useful to understand basic coverages and limits in your policy in the event you are considering whether or not to file a claim. You will need to be review your policy to make final coverage decisions since the Dec Page is a summary.

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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Renters Insurance Declarations Page

The declarations page for renters insurance looks very much like a homeowners insurance declarations page. The main difference is in the types of coverage youll see and the lack of any mortgage details.

A renters insurance declarations page will cover:

  • When the policy is in force.

  • What your personal property limits are.

  • What your deductible is.

  • How much your premium is.

  • Any discounts youre receiving.

  • Any additional coverage options.

The main difference between renters and homeowners insurance is that renters insurance covers the stuff in your rental, like your clothes, furniture and electronics but not the property you live in. Landlords will have insurance to cover the building in case of fire or another catastrophe.

Renters insurance also covers you for any damage you might cause to the property or to people on the property.

When Do Homeowners Need A Declarations Page

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Your declarations page can be very handy in a couple of ways. For one, insurance policies are long and full of legalese. Your dec page puts all of the most useful information front and center. You dont have to dig through a thick contract just to find your limit for medical payments or other structures when itâs time to make a claim.

This doesnât mean you can skip reading your policy in its entirety. You still want to know the details of whatâs covered and whatâs excluded. However, the declarations page can be a big help when you need information fast.

You may also need your declarations page when:

  • Youre switching insurance companies. New insurers will want proof of continuous coverage, which may qualify you for a discount. Some insurance providers wont insure homes that dont have previous coverage .
  • Your mortgage lender needs proof of insurance. Many mortgage companies want a copy of the dec page every year to make sure your home is adequately insured. Failure to keep your insurance may give your lender the right to place insurance on your behalf. A lender-placed policy is usually more expensive than home insurance you buy on your own. Plus, the lender may add the premium to your mortgage payments.
  • You want to compare insurance policies. A declarations page is an easy way to make an apples-to-apples comparison when shopping for new coverage. You can compare your quote to your current policys coverage and limits as seen on the declarations page.

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Coverage D: Loss Of Use Additional Living Expense

This coverage, also called loss of use coverage, reimburses you for living expenses if your home is severely damaged or destroyed and you need to live somewhere else until the home is repaired or rebuilt. For example, it typically covers hotel and restaurant costs above your normal living expenses until you can move back home.

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Coverage C: Personal property – All of your personal belongings are covered under this coverage type. That includes anything you have inside your home like your furniture or TV. Some of your high-valued items fine art, jewelry, expensive electronics may have different coverage limits or may need additional coverage known as a rider. The sample homeowners declaration page specifies that this covers the replacement value of your items. Your policy will either cover the replacement cost of the item or the actual cash value of the item. Replacement cost will give you the money it will cost you that day to buy a new one. Actual cash value is the replacement cost minus the depreciation of the item, which is the decrease in the value of an item because of its age or wears and tear.

Coverage D: Loss of use – This coverage is used if you need to stay somewhere else other than your home while repairs are being made for a covered claim. This will typically cover the cost of living expenses like food, hotel, clothing, and other needs. On the sample homeowners declaration page, the insurance company will cover living expenses under the loss of use coverage for up to 12 months with limits up to $40,000.

Section II displays your liability coverage types.

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Policy Coverage & Limit Of Liability

This section of the policy is going to show you the property and liability parts of your coverage and the associated coverage amount or “limit of liability” for each part.

As you can see it shows the property benefits for your dwelling, loss of use, personal property, and other structures coverage.

Then it switches over to your liability benefits for your personal liability and medical payments.

It is essential that you learn what all of your limits are to determine if you need more coverage and so you will know what to expect if you have to file a claim.

Homeowners Insurance Coverage Limits

What is a home insurance declaration page?

This section of the homeowners insurance declaration page will specify each product’s coverage limits, or the maximum amount of money your insurance company will pay for a loss. These amounts should be reviewed annually, and adjustments should be made when new purchases and upgrades are added to the house.

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Why Is An Insurance Declaration Page Important

An insurance declaration page is more important than you might think. Its not just a confirmation of the policy, like an insurance binder. The information outlines everything the policy covers and what it doesnt, 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 Isn’t Listed On My Declaration Page

Despite being a fairly comprehensive summary of your insurance policy, your declaration page might not state certain optional policies you’ve added. Things like coverage for rental reimbursement on your auto insurance policy or identity theft insurance on your homeowners or renters insurance policy may or may not be included on the declaration page.

If you don’t see a specific type of peril listed on your declaration page, don’t assume you’re covered. Contact your insurance agent to confirm exactly the types of scenarios you’re protected from.

Editorial Note: The content of this article is based on the authors opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

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Details On Premiums And Deductibles

Your premiums will be listed on your declarations page and how youll have to pay them. Your premium is decided by various criteria, including your age, gender, location, and driving history , the type of car you drive, and how often you drive it. The amount of coverage youll need is essential in deciding your auto insurance price.

When making an auto insurance claim, the deductible is the amount you must pay out of pocket before the insurance company pays the rest.

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The declaration page specifies everything you need to know about your home coverage: the name and address of the insured, the insurer, the lender and your agent, the policy number, the policy’s effective dates, your coverages and coverage limits, the premium and any discounts.

Keep your dec page handy when shopping for a better price on homeowners insurance. You may be paying up to 40% more than you need to pay for a solid policy. SmartFinancial can find you the right homeowners insurance for the best value. Enter your zip code below for a free quote or call 855-214-2291.

About the Author

David Joy is a freelance writer and editor living in New York City. He has written on many topics related to the insurance industry including company overviews, product explainers and policy comparisons. He has worked in publishing for more than 25 years, editing books, newspapers, magazines and websites.

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Whats On An Insurance Declaration Page

The insurance declaration page includes a wealth of important information about your insurance policy. Everything like your policy number, deductible and discounts are listed on the document. Most declaration pages have a similar layout, so you can expect an auto insurance declaration page to have the same kind of information as a homeowners declaration page. Despite the volume of information, declaration pages are generally easy to read. Here is the information you will find on your insurance declaration page:

Named And Additional Insured

One of the sections of your declaration page is the named insured section, which typically lists the primary owners who reside in the home and are covered under the homeowners insurance policy.

This section includes the named insured, i.e. the primary policy holder, as well as the second insured, who is typically a spouse or additional owner of the home. Additional insured, or those living in the home that still need protection, such as unmarried partners or long-term roommates who arent blood relatives, must be added to your insurance policy in order to be covered and show up on the dec page.

Its a good idea to double-check this section if you have roommates or live with a long-term partner to ensure theyre listed on the policy.

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Why Is A Declarations Page Important

Your homeowners insurance declarations page is the most important portion of your insurance policy. It contains valuable information that you need to know as a homeowner. Not only does it contain a detailed list of what your policy covers and your coverage limits, but it also has information about your premium and any other fees you are being charged.

Many people never look at their declarations page because they assume they will never have to file a claim. However, home insurance claims are more common than you think. You do not want to wait until something happens before reviewing your policy documents. Here are some common situations that would require you to read your declarations page:

Names Of Relevant Parties

Understanding Your Home Insurance Declarations Page

The auto insurance declarations page will list all of the policys participants. The following people will be involved:

  • Specified Insurance Policyholder: Typically, the person purchasing the policy, insure their car. Each person covered by the policy will have their names, ages, and addresses specified.
  • Excluded drivers: Your declaration page may list the names of any home drivers who are excluded from coverage.
  • The agent: If relevant, the agent from your car insurance company and their phone number.
  • Name of the insurance company: The address of your insurance carrier and a phone number to contact them should be included on the policy declaration page.

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