A declarations page is the part of a policy that lists your specific information. For instance, a homeowners declaration page will list your name, the address of your home, your policy number, the effective and expiration date of your policy, the premium for the coverages you have purchased and the limits of each of those coverages.
Terms you may find on your Declarations Page:
- Named Insured – this is the individual or business that is identified as the insured party.
- Additional Insured – an additional insured is someone listed on your policy because certain coverages on the policy can be afforded to them. For instance, if you lease a vehicle, the leasing company may require to be listed as an additional insured. The leasing company is still the owner of the vehicle, therefore, they can be liable for damages caused by the vehicle. Being listed as an additional insured on your policy will trigger your policy to afford some coverages to the leasing company in the event they are subjected a suit involving the vehicle.
- Endorsements – There can be circumstances where changes need to be made to the standard policy language. Instead of rewriting the entire policy, the insurance company includes endorsements to the policy. They are essentially amendments made to the insurance contract that can change the coverage or terms of the policy. Your Declarations Page will list which endorsements apply to your policy.