An Insurance Policy Declarations Page

The declarations page of an insurance policy contains a lot of important information about the policy. Included on the declarations page are the coverage and amounts of insurance, applicable discounts as well as any policy interest. The declarations page is a quick way to find out the basic information about an insurance policy.

The declarations page of an insurance policy is used to display various policy information including the available coverages. Policy coverages are different depending on the type of policy such as a home policy or an automobile policy. The coverages section of a declaration lists the coverages that are included on the policy. These can be collision, comprehensive or liability for an automobile policy and dwelling, personal property (contents) and personal liability for a home policy. The limits of liability or coverage amount are also listed as well as the amount of premium for each type of coverage that is listed.

The declarations page of an insurance policy also contains a list of all applicable discounts that have been applied to the policy. These can include discounts such as a multi-policy discount as well as a group discount. An automobile policy can have discounts for multi-car as well as anti-theft devices and miles driven to work. A home policy can have discounts for protective devices such as a dead bolt lock, a fire extinguisher and a smoke alarm. This section of the declarations page will also list the total amount of credit that is being applied to the policy.

The declarations page of an insurance policy will also include any policy interests if there is a third party interest in the policy. A third party interest is an entity such as a bank or mortgage company that provided a loan to the policy holder. The policyholder is sending payments to the mortgage company and bank for payments that also include the insurance premium. The insurance company will send a bill to the bank or mortgage holder which will then send the payment to the insurer. A policyholder that has a policy interest on the declaration will only pay the initial premium with future payments made by the bank or mortgage company.

The declarations page of an insurance policy is a quick way to find basic information about an insured’s policy. This includes the insurance agent, the policy number as well as the policy period. Always keep the declarations page of the policy until the policy renews.