The world of insurance can be complicated for the uninitiated. A good first step to understand more about it is to make sure you know the necessary terms to make an informed decision. One of those basic terms is the declarations page of an insurance policy.
The declarations page of an insurance policy is placed in front of the policy. It includes basic information such as the name of the policyholder, the annual premium, and other details that may vary depending on the type of policy and insurance (e.g., car, home, or motorbike insurance.)
This important part of your policy is colloquially known as “dec page” and is included as a part of any new policy and every time the policy is renewed.
Check it Line by Line
The declarations page of your policy has a practical use, since it allows you to read your policy’s most basic facts at a glance, but it can be useful in other situations. For example, if you purchase a new car your insurance agent can fax the declarations page to the dealership as proof of insurance.
When you read your insurance policy for the first time it’s important to check carefully the declarations page line by line. Make sure that there are no errors or omissions and that all the information is accurate, including the deductible. Once you have verified that there are no mistakes, keep it in a safe place along with your insurance contract.
Consider Other Factors
Finally, keep in mind that the declarations page is only a summary of the basic information about your policy, not an exhaustive brief. Therefore, remember that there’s important information not included in the declarations page that can be found instead in other sections of your policy. This information may include objects or places excluded from your coverage, as well as any riders or endorsements to your policy.
The declarations page is followed by other important section known as “policy wording”. Here you will find the definitions of all the technical terms used in your policy.
At the JCC Group we put at your disposal our expertise in the areas of insurance, accounting and IT. Our experts are trained to deliver the best customer service and provide you with the best solutions for your business.
We are located at 114 E. Reynolds Road 200 A, Lexington, Kentucky. Contact us today by telephone, email or through our social media accounts (Facebook, Twitter, LinkedIn) to learn more about our services.