Glossary
Declarations page, defined
The summary sheet at the front of a policy that lists who is insured, what is insured, each coverage with its limit and deductible, the endorsements, the policy period and the premium. The rest of the policy is the contract that defines the words; this page records the choices.
In practice
It is the page to read at every renewal and the page an agent needs to compare policies, because it states the coverage you actually have. Check the names, the vehicle or address, the limits against a bad day, the deductibles against what you could pay tomorrow, and the lender listed as loss payee.
A worked example
Suppose your page shows liability limits of 25/50/25 and a $1,000 collision deductible. Suppose you then compare a second carrier that quotes 100/300/100 with the same deductible for a modest additional premium. The comparison is between those two rows of numbers, not between two brochures. Hypothetical figures.
Applies to: Auto InsuranceHome Insurance