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What are the parts that make up homeowner’s insurance policies?

review parts of homeowners insurance policy

Although most homeowners have insurance, not everyone is familiar with the many parts of their insurance policy and how to review them. Learning what is included in your homeowner’s insurance policy can help you make better decisions when buying homeowner’s insurance or evaluating your current plan to make sure it is still a good fit. The better you understand your policy, the more likely you are to find the best deal and save money on your plan. This is particularly true for large plans that have unique coverage items within them for special situations. Although there are subtle differences in plans from one insurance provider to another, here are the main components that make up most homeowner’s insurance plans in California.

 

Declarations Page
This page will include basic summary information for your homeowner’s insurance plan, and it is typically the first page of the plan. This will include things like name and address of the insured, description of the property, coverage dollar amount, contact information, cost of the insurance, and the name of the insurance company itself.

Coverage
This section will include the extent of protection you are being provided for both your property and liability coverage in your homeowner’s insurance plan.

Definitions
The terms and their meanings referenced in your policy paperwork are explained here.

Conditions
This explains the responsibilities of the insured and the insurance company. This will include your duties during a loss and also the procedures the insurance provider will follow to settle losses that are explained in this section

Exclusions
Details of what is not covered under both property and liability coverage in your plan. If you ever wonder what will not be covered, this section clearly explains it.

Endorsements
Amendments, Attachments, or Riders that change the standard coverage provided for your home insurance are included here. Adding these may also have additional costs associated for them based on what you choose beyond the basics.

If you need help reviewing your homeowner’s insurance policy, or have questions about how to get the best deal on your homeowner’s insurance coverage, our expert team can help. Contact us today at 877-945-7233 or visit our locations in Los Angeles and Long Beach.