Understanding Your Policy’s Declaration Page

Insurance policies are made up of many pages that explain, in detail, what your policy covers, what is excluded from coverage, how your premiums break down, and the meaning of various insurance terms. This can seem like a cumbersome document if you just want to absorb the details of your policy at a glance, which is why your policy also includes the very convenient declaration page or set of pages.

What is the Declaration Page?

As its name implies, the declaration page (or dec page) declares what your policy covers in a simplified format. It lays out the basic information including your policy number, the address of the covered property, and the basics of the coverage limits and deductibles.

Reading Your Declaration Page

A home insurance policy is likely to have a 2-3 page declaration with the following information:

• The first page outlines the major categories of coverage provided. It will also disclose your mortgager and all your insured locations. Finally, it will break down the premium costs for each major section of coverage.
• The second page spells out any special endorsements your policy carries. This can include endorsements for computer coverage, jewelry coverage, endorsements for certain home business activities and more.
• The second page will also likely explain whether your personal property is covered as actual cash value or replacement costs and it spells out some of the surcharges and assessments on the policy, including any donations made to state catastrophe funds.
• The third page generally carries certain disclosures. These disclosures could discuss many different topics such as deductibles, suggestions for specialized insurance additions that are not covered by your policy including flood insurance and law and ordinance coverage, and information about inflation guard options.

Your declarations pages are a very handy way to glance and get information about your policy, but they are not built to offer the same complex information as the actual policy pages. If you have questions about what your policy does and doesn’t cover, feel free to give us a call. Not only can the agents at Allstar Direct Insurance help you better understand your Miami Home Insurance policy, we can also help you determine whether your coverage is sufficient.