Insurance Policy Definitions Page

Insurance policy declarations and definitions.

Insurance policy definitions page. Insurance policies are contracts of adhesion, meaning contracts drafted by one party only. Some words and phrases may be defined differently by other individuals or organizations. Take note of any special deductibles that may apply to certain loss types, e.g.

Declaration part of a property or liability insurance policy that states the name and address of policyholder, property insured, its location and description, the policy period, premiums, and supplemental information. An insurance declaration page is a summary of what is contained in an insurance policy. An insurance policy is a contract that defines the obligations of both the insured and the insurer.

A clause in an insurance policy that indicates that the insurer will only cover the least expensive option for treatment, repair, or remediation. The person or entity listed on the policy declarations page. Any change made to your insurance policy during the period that the policy is in force.

Deductible the amount of loss paid by the policyholder. This is an example of a typical declaration page, highlighting specific details that you should review as you read through your policy. Usually the first page of an insurance policy that contains the full legal name of the insurance company, the policy number, effective and expiration dates, premium payable, the amount and types of coverage, and the deductibles.

Because insurance policies are written in a legal language, all homeowner policies come with a section dedicated to defining certain words. Claim an insurance claim is when you make a request to your insurance company to pay you after a loss. There are a great many different types of insurance, with health insurance, automobile insurance, life insurance, and homeowner’s insurance among the most common.no matter the type of insurance, an insurance policy usually consists of six sections:

Referred to as the ìdec page.î. Cancellation the termination of your insurance policy during the policy term. The declarations page is the first page of a new policy containing other policy information.