What Is a Homeowners Insurance Declaration Page?

A homeowners insurance declaration page is a concise document provided by an insurance company that summarizes the essential details of a homeowners insurance policy. This page acts as a snapshot, offering a quick overview of the coverage and costs. It distills complex policy information into an easily digestible format.

Information Contained in the Declaration Page

The declaration page includes the policy number and policy period, which specifies the effective and expiration dates of coverage. It lists the named insured(s), which generally includes the homeowner and any other individuals covered under the policy, along with their mailing address. The physical address of the insured property is also displayed.

The declaration page details the coverage types and their respective limits. These typically include:
Dwelling (Coverage A): Protects the physical structure of the home and attached structures like a deck or garage.
Other Structures (Coverage B): Covers detached buildings on the property, such as sheds, fences, or unattached garages.
Personal Property (Coverage C): Insures belongings within the home, including furniture, electronics, and clothing, against covered perils.
Loss of Use (Coverage D): Provides funds for additional living expenses if the home becomes uninhabitable due to a covered loss, necessitating a temporary relocation.
Personal Liability (Coverage E): Offers financial protection if the policyholder is found responsible for bodily injury or property damage to others.
Medical Payments to Others (Coverage F): Covers medical expenses for guests injured on the insured property, regardless of fault.

The declaration page also specifies the deductibles, which are the amounts the policyholder must pay before coverage begins. Common deductible types include a standard flat dollar amount, often ranging from $500 to $2,000, or a percentage-based deductible, typically 1% to 10% of the home’s insured value, frequently applied to specific perils like wind, hail, or hurricanes.

Any endorsements or riders, which are modifications that add or remove coverage from the standard policy, are also noted. The total premium amount, representing the cost of the policy, is clearly stated. If the home has a mortgage, a mortgagee clause will be present, listing the lender’s name and address. The insurance company’s name and contact information are included.

Importance and Use of the Declaration Page

The homeowners insurance declaration page serves as a useful reference document for policyholders. It provides proof of coverage, which is frequently required by mortgage lenders to ensure adequate financial protection for the property. This quick reference allows policyholders to understand their coverage limits and deductibles without reviewing the entire policy document.

This page is useful when comparing policies or reviewing changes to an existing policy. It helps homeowners ensure comparable coverage when seeking new quotes or verifying policy adjustments. For legal or financial transactions, the declaration page may be requested to confirm insurance details. When filing a claim, it provides immediate access to information like the policy number, coverage types, and deductibles.

Locating and Reviewing Your Declaration Page

Homeowners typically receive their insurance declaration page when they first purchase a policy, at renewal, or whenever significant changes are made to their coverage. This document is often included as the first page of the complete policy documents. Many insurance providers also make the declaration page accessible through their online policy portals or mobile applications. If a homeowner cannot locate their declaration page, they can request a copy from their insurance agent or the insurance company.

Upon receiving the declaration page, it is important to review it for accuracy. Policyholders should verify that their personal information, including names and mailing address, is correct. The insured property’s address should also be confirmed.

Scrutinizing the coverage limits, deductibles, and any listed endorsements ensures they align with the policyholder’s understanding and expectations. This review is relevant at renewal periods or after policy adjustments. If any discrepancies or errors are identified, contacting the insurance agent or company to ensure the policy accurately reflects the intended coverage.