During the next weeks we will deliever a series on
how to read your insurance policy. There are 6 parts
in most policies that warrant closer review. You may
find that you need more detail on this topic but this
series will serve as a good start.
find that you need more detail on this topic but this
series will serve as a good start.
Insurance policies are a contract between you and the
insurer, and are not written so the average person could
pick one up, read it from front to back, and come away
with a meaningful understanding of what they just read.
pick one up, read it from front to back, and come away
with a meaningful understanding of what they just read.
We start with: Declarartions Page
Declaration Page - A declaration page includes the
name and address of who is insured, the issuing carrier,
what risks or property are covered, the policy limits,
the coverage effective dates and policy numbers.
Depending on the policy type, The declarations also
list coverage limits for each type of coverage (in other
words, the amount of coverage that has been purchased),
and will list the endorsements that are part of the policy.
name and address of who is insured, the issuing carrier,
what risks or property are covered, the policy limits,
the coverage effective dates and policy numbers.
Depending on the policy type, The declarations also
list coverage limits for each type of coverage (in other
words, the amount of coverage that has been purchased),
and will list the endorsements that are part of the policy.
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