To gain improved understanding of your homeowners insurance policy, one should start by reviewing the policy declaration page. This should be attached as the cover page for new policies and likely included with your billing statement at renewal.
The “dec page” or declarations page will identify who owns the policy by name, the address of the insured property, and most importantly dates insurance begins and ends, known as the policy period.
Detailed coverage amounts will be identified in whole dollars following each available coverage along with your deductible.
It’s extremely important you review and understand all amounts listed, including your deductible. Limits may not be combined and should reflect replacement costs of your property.
- Coverage limits are usually the most your policy will pay in the event of a total loss
- The deductible is the amount you, as the homeowner, will pay for damage to your home and contents before insurance will pay.
- Replacement cost is the amount necessary to replace your home with new construction in the event of a total loss, not including land. It is not your mortgage balance, purchase price, tax assessment, or market value.
Coverage descriptions
| Dwelling / Coverage A | Your main home and attached garage |
| Other Structures / Coverage B | Buildings on your property not attached to your home. i.e., garages, sheds, barns |
| Personal Property / Coverage C | These are your items located on your property, and may extend, in limited amounts, to your personal property located elsewhere. |
| Loss of Use / Coverage D | The amount it will cost should you and your family need to relocate during repairs as the result of damage to your home. This can include hotel, apartment, meals, and pet boarding. |