Although homeowners policies differ in their actual structure, most contain the same basic components:
Declarations Page — usually the first page of your homeowners insurance policy, it typically contains the following summary information:
– Name and address of the insured.
– Dollar amount of coverage in the policy.
– Description of the insured property.
– Cost of the insurance.
– Name of the company insuring the risk.
– Contact information.
Definitions — explain the meaning of terms used in the policy.
Coverage — details the extent of protection in your policy for property (house, structures, contents) and liability (bodily injury or property damage to others).
Exclusions — explanation of what is not covered by your homeowners insurance policy, both property and liability coverage.
Conditions — outline the responsibilities of the insured and insurance company under the policy. Details of your duties in the event of a loss and procedures the company will follow to settle.
Endorsements — riders, floaters, amendments or attachments that alter the standard coverage provided by your home insurance policy.