Your home declaration page (or DEC) is the key to understanding your home coverage.
Home declaration pages typically include the following.
Name and address of the primary insured (such as you and your spouse)
Policy period (beginning and end dates of coverage)
Name and address of your insurance carrier
Deductible amount
Coverage limits
Policy number
Mortgagee’s name and address (name of the bank or mortgage holder)
Endorsements on the policy
Location of the insured property (usually the address)
Premium amount
1. Property Protection – This explains the insurance coverage for your property and personal belongings. Commonly covered things include:
Dwelling – the primary structure insured; the amount listed is the replacement cost, or what it may take to rebuild your home in case of a total loss.
Other structures – detached garages, sheds, etc.
Personal property – the belongings in your home that are covered.
Additional living expenses – the amount of money or time covered in case you must temporarily live elsewhere during repairs or rebuilding.
2. Personal liability coverage – Coverage for claims filed by third parties against you or a member of your household due to injury or property damage.
Personal liability – protects you against losses due to injury or property damage because of something related to your property, including pets.
Medical payments – if a third party is injured at your home, this is the amount of medical expenses covered.
3. Additional charges and coverage – This section explains any additional credits or charges for things like discounts or extra coverage you may have purchased.
Surcharges for additional items – these items increase your premium, such as fire safety services, the age of your home, and endorsements.
Credits – these things save you money: having smoke alarms, deadbolts or security services; discounts for ages 55 and older; and multiple-policy discounts.
