What is an insurance declaration page?

Purchasing insurance can provide you with peace of mind in knowing that your business and possessions are secure. When your policy goes into effect, you’ll receive a multi-page booklet outlining the important facts of your coverage. Reviewing all of that material can be intimidating, but here’s a hint: the main aspects are presented on the first page. Discover what a declaration page is and why it is necessary.

What is an insurance declaration page?

An insurance declaration page is the opening page of any form of insurance policy documentation. It is issued by your insurance carrier as the official, legal contract for insurance. Often, the insurance carrier will issue a binder right away, then finalize the policy that includes the declaration page.

The declaration page contains the more critical and relevant facts that policyholders should be aware of in the event of a covered loss. Before filing a claim, go over your policy declaration page to see what is and isn’t covered, what sort of policy you have, and what your coverage limits are. A declaration page is sometimes called the “dec page.”

What information is on an insurance declaration page?

The insurance declaration page contains the vital information regarding your insurance coverage.  This document contains information such as your policy number, deductible, and discounts. Because most declaration pages follow a similar pattern, you should expect an auto insurance declaration page to have the same information as a business commercial general liabilities declaration page.

• Insurance policy number: Typically, your insurance policy number can be found in the upper right corner of the declaration page. In order to file a claim, you must know your policy number.
• The policyholder’s name and address are as follows: The policy includes your name and address. A property insurance declaration document will also provide the address of the covered property.
• The policy’s named insureds are as follows: Your business name will appear here, and for personal insurance, your name and your spouse (or unmarried partner) will appear here.
• Name, address, and phone number of the insurance company: To file a claim, use the insurance company’s contact information.
• Information required to file a claim: In the event of a covered loss, the details for submitting a claim can be found on your declaration page.
• Identification of the insured property: Whether you’re insuring a business, a house, or a car, the declarations page will include a description of the insured item.
• What coverages are covered: The coverages contained in your policy will be listed on your declaration page. This section, however, will not feature endorsements or add-on policies.
• Insurance limits: The coverage limits of your policy can be found on the declaration page. You will also find the restrictions for each type of coverage.
• Deductible: Your deductible will be listed on the insurance declaration page.
• Endorsements with limitations and deductibles: If you have endorsement policies, they are listed on your declaration page, along with the deductible and limit.
• The policy’s effective and expiration dates are as follows: The effective and expiration dates of the policy can be seen near the top of the declaration page.
• Limits of liability: This section contains the limits of your policy’s liability coverages.

Guidelines for double-checking your insurance declaration page

It’s a good idea to double-check the facts on the declaration page when you initially acquire a new insurance policy. Even if you already have a policy, it is always a good idea to go over the material provided. 

Make certain that your name, the names of the specified insureds, and the names of any additional named insureds are all stated. If something changes since your last policy, contact your insurance carrier to have the information updated.

What Is the purpose of an insurance declaration page?

It’s useful to have your insurance declarations page available.

In some cases, it is required. When shopping for insurance, for example, having your dec page on hand makes it simple to compare products.

Furthermore, if you move insurers, your new business will require confirmation of your current policy.

Furthermore, if you have a loan on any insured property, the lender may request a copy of the declaration page. For example, your landlord may request a declaration page of your commercial general liability insurance to make sure your insurance would cover any damage to the landlord’s property while you operate your business.