What is a Declarations Page?
A declaration page is the front page(s) of a policy. It specifies the named insured, address, policy period, location of premises, policy limits, and other key information that varies from insured to insured. The declarations page is also known as the information page. It is often informally referred to as the “dec” or “dec page.”
Understanding Declarations Pages
A declaration page is a useful resource that allows you to access quick, up-to-date information about the insurance policy. When changes are made during a policy term, this page is updated. Then the insured receives a revised copy.
Declarations Pages vs. Binders
In some ways, a declarations page is similar to a binder. However, there are important differences between the two.
A declarations page can act as proof of insurance. This is because the declarations page includes several important details about your insurance policy, such as your name, address, limits, and policy endorsements. A declarations page usually lasts the entire term of a policy.
A binder is a brief legal agreement that provides temporary evidence of insurance until a policy can be issued. It can also act as proof of insurance. A key difference is binders typically last 30-90 days.
Diligent Search/Diligent Effort
Understanding Guaranty Fund Disclosures
All 50 states require some version of a Guaranty Fund Disclosure. Here’s what you need to know to navigate compliance for each state. Continue reading.
Insurance Endorsements in the Excess and Surplus Lines Market
This article will review insurance endorsements in the excess and surplus lines market—what an insurance endorsement is, what types of endorsements exist, how to file an endorsement, and more. Continue reading.
InsCipher is an insurtech company providing software and services that are revolutionizing inefficient insurance processes. Save your agency time and money by automating surplus lines compliance, filing, and reporting. Want to learn more? Request a free demo today