How to read your insurance declaration pages

After you purchase a new insurance policy, renew a policy or add an insurance endorsement, we always want you to check your declaration pages (dec pages). But how exactly do you do that?

Understanding your dec pages is crucial for making informed decisions about your coverage. These pages contain vital information about your policy, including the types of coverage you have, the limits of coverage, and any exclusions or conditions that may apply. Each policy that you have will have a separate dec page. By learning how to read and interpret these pages, you can better understand the protection you have and ensure you are adequately covered in the event of a claim.

To begin, start by familiarizing yourself with the layout of the declaration pages.

Typically, these pages will include a summary of your policy information, such as your name, policy number, and effective dates. It may also provide a breakdown of the different types of coverage you have, such as liability, property, or medical coverage. It’s important to triple check to make sure that all of your vehicles and drivers are listed on your policy as well.

Next, pay close attention to the coverage limits stated on the declaration pages.

These limits represent the maximum amount your insurance company will pay out for a covered claim. For example, if you have liability coverage with a limit of $100,000, your insurance company will only pay up to that amount for any damages or injuries you are liable for. It’s important to ensure that your coverage limits are sufficient to protect your assets and personal finances.

Exclusions and conditions are another crucial aspect to review on your declaration pages. These are specific situations or circumstances in which your insurance policy may not provide coverage. For instance, if your policy excludes coverage for flood damage and your property sustains flood-related losses, your claim may be denied. By understanding these exclusions and conditions, you can make informed decisions about obtaining additional coverage or taking preventive measures to minimize your risks.

Additionally, you may find a section on your declaration pages that outlines any endorsements or optional coverages you have added to your policy. These endorsements can provide additional protection tailored to your specific needs, such as adding coverage for valuable personal belongings or increasing liability limits. It’s important to review these endorsements to ensure they accurately reflect your desired level of coverage.

Here’s what we want you to look for on your dec pages (and confirm that what you read is correct):

  • Confirm your contact information
  • Make sure all of your vehicles are listed
  • Take note of the effective dates
  • Confirm that your coverage amounts are what you discussed with your agent
  • Check to ensure that any endorsements you added are listed on your dec pages

Reading and understanding your insurance declaration pages is crucial for ensuring you have the right coverage to protect yourself and your assets. By carefully reviewing the layout, coverage limits, exclusions, and optional endorsements, you can make informed decisions and have peace of mind knowing you are adequately protected. Remember, knowledge is power when it comes to insurance, so take the time to familiarize yourself with your declaration pages and ask questions when needed.

Finally, don’t hesitate to reach out to us if you have any questions or need clarification on any aspect of your declaration pages. We are here to help you understand your policy and can provide valuable insights and recommendations based on your unique circumstances.

Holley Insurance Team

A little more about Holley Insurance…

Holley Insurance was founded in 2000, and retains a core base of loyal clients. We have locations in Roanoke, Rocky Mount, and Forest, VA. As an independent insurance agency, Holley Insurance represents a carefully selected group of financially strong, reputable insurance companies. Therefore, we are able to offer you the best coverage at the most competitive price. Holley Insurance was named “Top Insurance Broker in Southwest Virginia” by Virginia Living Magazine for 2021. If you’re interested in starting a quote online or having us take a look at your current policies, click here!

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