insurance

Declarations Page

The front page or summary section of an insurance policy that lists key information about the policyholder, coverage amounts, deductibles, premium costs, and policy period. It serves as a quick reference document that personalizes the standard policy form to the specific insured.

Example

“Maria reviewed her auto insurance declarations page to confirm her liability limits were $100,000 per person before renewing her policy for another year.”

Memory Tip

Think 'Dec Page = Details at a Glance' - it declares all your key policy details in one convenient location.

Why It Matters

The declarations page is crucial for understanding what you're actually covered for and how much you're paying, making it essential for comparing insurance quotes and ensuring adequate protection. It's also the document you'll need most frequently when filing claims, updating coverage, or proving insurance to lenders or others.

Common Misconception

Many people think the declarations page is the complete insurance policy, but it's only a summary - the full policy includes many additional pages of terms, conditions, and exclusions. Another misconception is that all information on the dec page is automatically accurate; policyholders should review it carefully as errors in vehicle descriptions, addresses, or coverage selections can affect claims.

In Practice

When Lisa received her homeowners insurance declarations page, it showed her dwelling coverage of $350,000, personal property coverage of $175,000, and a $1,000 deductible, with an annual premium of $1,440. She noticed the page listed her home as built in 1995 when it was actually built in 2005, and her basement was marked as finished when it's unfinished. After calling her agent to correct these errors, her premium decreased to $1,320 annually because the newer construction and unfinished basement represented lower risk to the insurance company.

Etymology

From Latin 'declarare' meaning 'to make clear or manifest.' In insurance, this page 'declares' or states the specific terms that apply to an individual policyholder's coverage.

Common Misspellings

declaration pagedeclartion pagedeclarations paggedecleration page

Related Terms

premium deductible Named Insured

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