What’s the Dwelling Insurance Declaration web page? • Benzinga – Benzinga

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Of the many pages that make up an insurance policy, have the Home Insurance Statement to hand as it contains your insurance coverage and limits.

Your declaration page contains the information you are most likely to need in the event of a claim.

While your explanation page is designed to highlight the most frequently needed information for homeowners, it is important to understand each part of a homeowner explanation page.

What is the declaration page?

Your home insurance has several pages, whether you get it online or in the mail. The text of the directive is quite long and full of industry and legal jargon as it is a legal and binding contract. Nonetheless, guidelines can be tricky to formulate for the average homeowner to digest and understand.

In the event of a claim, the policy formulation is very important for insurance companies, claims adjusters, contractors and lawyers. On the pages of your household insurance, the most important terms in connection with a claim are defined and their meaning is described. The documents are intended to clarify which types of situations are insured at the time of a loss and which are not.

The details of the guideline are clearly worded so that nothing is left to interpretation. Your home contents insurance therefore offers protection for you and the insurer.

The declaration page, commonly known as the dec page, is a summary of the main components of the policy, all on a single page. The explanation page contains information such as the type of insurance, coverage amount, property address, property description, contact information, mortgage information and the amount of the premium.

What does the explanation page tell you?

See the Home Insurance Statements page for a breakdown of the most important parts of your policy. Benzinga explains the most important components to you.

Named insured or insured – The named insured person (s) relates to the policyholder and other persons insured in the household. The primary policyholder is listed first.

Policy information – Your home insurance statement page will include an insurance number and the effective date of your policy. Some companies assign a separate billing account number that can also be used for your auto insurance or other insurances if you've bundled them.

Description of the insured property – Your property address appears here. Your explanation page also has a section describing your property, including the year of construction, construction type and fire safety information.

Coverage and Maximum Limits – The main part of your declaration page lists the applicable coverage and maximum limits of your household insurance.

This part of your declaration page lists the sum insured for the home, other buildings and personal property. A loss of use amount (also known as additional cost of living coverage) is also listed to reimburse you for the additional cost of living in another location until your home is habitable.

Under the liability section of the statement page, the document will list a limit on personal liability and medical payments for claims that have resulted in personal injury or damage to someone else's property.

Deductibles – When applying for your home contents insurance, you selected deductibles and these are listed on your declaration page. This is the amount that, in the event of a claim, you will have to pay before the insurance pays. Depending on your policy, you can have more than 1 deductible. For example, you could have a deductible of $ 1,000 for all losses and a 1% deductible for a wind loss.

Bonuses – Your premium is the amount you pay for your home insurance. The premiums are due annually and many companies offer convenient payment plans. If your mortgage payment is in trust, your mortgage company pays your premium on your behalf.

Discounts – Home insurance offers a variety of discounts to inspire your loyalty. Your explanation page lists discounts for security, home improvement, longevity, good credit or the bundling of your policy with other policies.

Contact information for agents and agencies – Home insurance is usually sold through insurance agents or insurance agencies. Your contact information is listed on the explanation page as agents handle all questions and inquiries from policyholders.

Explanatory pages are not all-inclusive

Every detail of your home insurance is covered somewhere in your insurance package or extension package. Your explanation page only provides a snapshot of the types of information you would typically need.

While your Declaration Policy gives you some insight into the most important coverage, it doesn't always include endorsements or additional coverage. For example, you can have additional pages in your package that describe the coverage of water reserves, jewelry, art, earthquakes, or hurricanes.

Your annual or renewal insurance package can also include your car insurance, boat insurance, motor home insurance, or other insurance policies. Each of these guidelines has its own explanation pages.

Why is the explanations page important?

The explanations page gives you an indication of what is and is not covered. It is a useful document to refer to at any time to ensure your policy is in place and when it will be renewed.

With each renewal you will receive a new declaration page with the new validity dates. You will also receive a new page with the explanations if you make changes to your insurance cover in the medium term.

It is important that you keep your insurance coverage up-to-date and in effect, and make premium payments in a timely manner. If you need to make a claim, your insurance company will first check whether the claim arose during the period of validity of the policy. If your policy is canceled or not renewed, or for other reasons it was not in effect on the day the claim was reported, the insurance company will reject the claim.

If you have a mortgage on your property, your lender will need copies of your statements as well. Mortgage lenders have an insurable interest in the real estate they hold as collateral. If you decide to refinance your mortgage, the new lender will ask for a copy of your statement sheet as proof of insurance.

Your home is usually your most expensive asset. With that in mind, it's important to check the home insurance statements page each time you renew to make sure it's correct and that you have adequate coverage at all times.

Keep your home insurance in a safe place along with your other important documents. In the event of fire, theft or other insured damage, you want it to be accessible.

Compare home insurance

Your home insurance is vital if your home is damaged or destroyed. Your policy gives you the peace of mind that your home will be repaired or replaced and you can reside in it at the earliest possible time, regardless of the extent of the damage.

To help you choose the best policy for your family's needs, Benzinga lists the best home insurance for your review.

You should be much more familiar with reading your explanation page by now. Hopefully you never need to get your homeowners insurance. Either way, your homeowners insurance should make you feel good, well prepared for an unexpected disaster.

We invite you to visit the Benzinga website regularly for information on all types of insurance and financial information.

frequently asked Questions

How do I find the Home Insurance Declaration page?


How do I find the Home Insurance Declaration page?

asked 2021-12-14

Maurice Draine


Your page with the statements on household contents insurance is clearly marked as such at the top of the page. When you receive your insurance policy in the mail, it is usually after the cover letter and before the rest of the policy.

Today, many insurance companies allow policyholders to access their insurance policies online. To get your explanation page online, log into your account and look for documents. Most companies will display one link for their statement page and another link for the entire policy.

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answered 2021-12-14


What is the difference between a declaration page and an insurance portfolio?


What is the difference between a declaration page and an insurance portfolio?

asked 2021-12-14

Maurice Draine


An insurance portfolio is a document that proves that you have a valid insurance policy until the actual policy is issued. In contrast, a statement page describes your coverage and its limits and is issued after your application is approved.

Reply link

answered 2021-12-14


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