A homeowners insurance declaration page is a critical record that provides an overview of the key details and provisions of your homeowner's insurance policy. This essential page offers a detailed summary of your insurance coverage, including important information such as policyholder details, property insured, coverage limits, deductibles, premiums, and endorsements.
As a homeowner, reviewing the declarations page is vital because it allows you to have a better understanding of the scope of your insurance protection and helps you to make informed decisions regarding risk management and ensuring adequate coverage.
What’s listed on the declarations page?
The details on a declarations page can provide crucial information about the limits of your homeowners insurance policy and which parts of your property are covered. Here’s an overview of what a homeowners insurance declarations page includes:
Policy Information: This section contains the policy number, the start and end dates of your coverage period, the address and name of the policyholder, and any other parties insured under the plan.
Property Description: It displays detailed information about the insured property, including its location, type of construction, square footage, and other relevant details.
Coverage Limits: This outlines the maximum amount your insurer will pay for covered losses, such as dwelling, liability, and personal property coverage.
Deductibles: This page specifies the amount the policyholder must pay out of pocket before the insurance coverage will pay out.
Premiums: The declarations page includes the insurance policy's cost, often broken down into annual or monthly payments.
Endorsements: This section lists any additional coverage or modifications to the standard policy.
Understanding these components can help you make well-informed decisions regarding your policy and protection for your home. You should review your declarations page annually to ensure your policy meets your coverage needs. SelectQuote can help you make adjustments if necessary.
What’s not included on the declarations page?
Besides your coverage information, the homeowners insurance declarations page also includes a crucial section on exclusions. Exclusions outline specific perils or circumstances not covered by your insurance policy. These could include events such as floods, earthquakes, acts of war, or intentional acts of the policyholder. Understanding the exclusions of your policy allows you to review the limitations of your coverage and identify potential gaps. You may require additional insurance upgrades or add-ons, like flood or earthquake insurance, depending on your location, the value of your assets, and budget.
Homeowners Insurance Made Easy with SelectQuote
With a variety of documents and information to review, including the homeowners insurance declaration page, finding the right coverage can seem confusing. Fortunately, SelectQuote is here to help. With nearly 40 years of industry experience, our licensed insurance agents will assist you through the application process, helping you find the policy you need at the right price for your budget. In just minutes, they’ll provide unbiased quotes from several of the nation’s most trusted carriers so you can review your options and feel confident in your coverage.
