What is a homeowners insurance declaration page?

Buying a home can be an incredibly fulfilling process. While there are often several moving pieces as a part of the process, one crucial area new homeowners need to pay attention to is homeowners insurance.

When you purchase homeowners insurance, you can select a variety of coverages and coverage limits to ensure peace of mind as you enjoy your new abode. The homeowners insurance declaration page is a one-page summary of all the key components of your policy.

Typically, your insurance carrier will send you a declaration page during your initial policy purchase and whenever any changes are made to your elections.¹

Why do you need a declaration page?

A declaration page is proof of homeowners insurance, which mortgage carriers typically request on an annual basis. The information on this page can be useful to understand basic coverages and limits in your policy in the event you are considering whether or not to file a claim. You (and/or your claims adjuster) will need to be review your policy to make final coverage decisions since the Dec Page is a summary.

How do you get a homeowners insurance declaration page?

Obtaining a copy of your homeowner insurance declaration page is simple. If you’ve printed your policy, look at the first page – that’s typically where all the declarations are. Similarly, if you have an electronic copy of your homeowners insurance policy, you can usually find it on the first page.

You can also download a copy from your carrier’s mobile app, if available, or request a copy from your insurance provider.

What’s included in a homeowners insurance declaration?

• The named insured: this refers to the policyholder. This part of the declaration page may also refer to others covered underneath your policy as “additional insured” (usually a spouse or additional owner of the insured home) or “second insured” (roommates and partners for example) You may also find their names and ages here.
• Policy number and effective dates: Your declaration page will usually contain your policy number for easy reference, as well as when your coverage will start and end.
• Home information: Key details surrounding your home are usually found in this section. They range from detailing the year your house and roof were built to a list of security systems to your mortgage lender’s information.
• Coverage Types: Your declarations page will include the types of coverage within the policy. This can range from your dwelling (the physical part of your home), other structures such as fencing, personal belongings, and more.
• Coverage Limits & Deductibles: The amount you pay out of pocket until your carrier covers your claim is called the deductible. You’ll find this amount on your declaration page as well as your coverage limits – how much your insurance will pay up to.
• Discounts, Endorsements & Add-ons: Your declaration page may also include any special discounts and add-ons not available in the original policy. Any time you add or remove these, you’ll receive a new declaration page. Discounts typically include if you’ve bundled your home insurance with other insurance such as auto, for example, but can also include loyalty discounts and more.
  
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• Premium: How much you pay for your insurance coverage is typically included on the declaration page. Homeowner insurance ranges in price based on your location, coverages, discounts, the age and condition of your home, and other factors. Learn more about how much homeowners insurance costs.²

What’s not included in a homeowners insurance declaration?

• Policies & coverages you don’t have: Depending on where you live, other special coverages such as earthquake coverage or flood coverage may be available to purchase. If you don’t have these, you won’t find them on the declaration page.
• The details of your policy: While the declaration page is a quick way to understand what’s in your policy, it typically doesn’t include the ins and outs of the policy, such as special exclusions or endorsements. You can refer to your full policy documents to get all the details.³

What does a homeowners insurance declaration page look like?

While declaration pages generally contain the same information, the page in your policy may look different depending on what state you live in or your insurance provider. The order your coverages, deductible, premium and limits are listed in may vary. In some cases, a declaration page may be longer than one page.

The declaration is an important part of your homeowners insurance

Whether you’ve recently purchased a new home or have been living in your residence for some time, homeowners insurance is incredibly important. Not only is it typically required by mortgage companies, but it can also give you reassurance that your home is covered during life’s unexpected moments. Renters have their own insurance and similar declarations page, too. While you may be tempted to quickly dismiss a declaration page communication from your carrier, it’s wise to review it in detail each year for any needed updates. Why? Because your premium and coverage depend on accurate information.

If you’re curious what kind of homeowners insurance coverages and discounts are available in your state, get a quote from Nationwide.

Your home is your safe space. Let Nationwide keep it safe with a custom quote that matches your unique needs.

^[1] https://www.quickenloans.com/learn/homeowners-insurance-declaration-page, Accessed October 2021.

^[2] https://www.policygenius.com/homeowners-insurance/homeowners-insurance-declarations-page/, Accessed October 2021.

^[3] https://www.quickenloans.com/learn/homeowners-insurance-declaration-page, Accessed October 2021.