What key information is found on an insurance declaration page?

What key information is found on an insurance declaration page?

• A. Policyholder information, coverage amounts, and premium details
• B. Detailed terms and conditions of the policy
• C. Claims history and pending lawsuits
• D. All exclusions under the policy

Answer: (A)

The declaration page of an insurance policy serves as a summary that provides essential information about the policyholder and the insurance coverage. This includes the policyholder's name and contact details, the effective date of the policy, coverage limits for different types of insurance (such as liability, property damage, and personal injury), as well as the premium amount due for the coverage period. This page is crucial because it allows the insured to quickly understand their coverage specifics and their financial obligations. While the detailed terms and conditions of the policy, claims history, and exclusions are also important elements of an insurance contract, they are typically found in the policy document, rather than on the declaration page. The declaration page is designed for clarity and immediate reference, focusing on the most pertinent information that the policyholder needs to know at a glance.

The declaration page of an insurance policy serves as a summary that provides essential information about the policyholder and the insurance coverage. This includes the policyholder's name and contact details, the effective date of the policy, coverage limits for different types of insurance (such as liability, property damage, and personal injury), as well as the premium amount due for the coverage period. This page is crucial because it allows the insured to quickly understand their coverage specifics and their financial obligations.

While the detailed terms and conditions of the policy, claims history, and exclusions are also important elements of an insurance contract, they are typically found in the policy document, rather than on the declaration page. The declaration page is designed for clarity and immediate reference, focusing on the most pertinent information that the policyholder needs to know at a glance.