The Declarations Page (also referred to as the 'dec page') on a Homeowners policy is the title page which details the Named Insured, the Term of Coverage, the Insured Mailing & Property Address and the Limits of Coverage for each Section.
If there is a mortgage on the property, the mortgagee should be listed on the declarations page; this is particularly important because the insurance carrier will mail the 'Mortgagee Copy' of the declarations page to the address listed with the account number listed being the reference to the mortgage company. Each insured person should check to make sure that this information is correct in order to avert unnecessary communication with the mortgage company.
Senior Commercial and Annuity Specialist, Freedom Brokers, Marion, Carbondale, Harrisburg IL
If you ever bought a new car, you will see the list of standard and optional items that the car comes with. Each car is different, and has a VIN number attached to only one car. In the same way, the declarations page or "dec" page tells you what standard and optional coverage you have in your policy. There are many ways to write a policy for any item you want covered. The key for the consumer, or business is to know what coverage you have, and what would happen in time of loss. No one cares how much the premium was if there is a loss. If you ask, a good agent will go over the policy line by line to make sure that you know the coverage you have. We don't know what you do or do not know. Most people don't like insurance and don't understand it. Take the initiative and learn what you have before it's claim time. And, as your circumstances change, you need to change insurance coverage with it.
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If there is a mortgage on the property, the mortgagee should be listed on the declarations page; this is particularly important because the insurance carrier will mail the 'Mortgagee Copy' of the declarations page to the address listed with the account number listed being the reference to the mortgage company. Each insured person should check to make sure that this information is correct in order to avert unnecessary communication with the mortgage company.