If you own a home anywhere from Paducah to Murray to Hopkinsville, there’s a good chance your homeowners policy has been sitting in a drawer or an email folder since the day you bought the house. You’re not alone. Most people never open it. But there’s one page in that packet worth understanding, and it only takes a few minutes: the declarations page.
The “dec page,” as we call it around the office, is the summary of your whole policy. It tells you who is covered, what is covered, how much you’d get paid, and what you’re paying for it. Here’s how to read yours line by line, in plain English.
What a declarations page actually is
Think of the dec page as the cover sheet for your policy. The full policy document can run 40 or 50 pages of legal language, but the dec page pulls the key numbers into one spot. It’s usually the first page or two of your packet, and it’s the page your mortgage company asks for when they want proof of insurance. If you ever need to check a coverage amount fast, this is where you look.
The top section: who and what is covered
Start at the top. You’ll see your name (the “named insured”), the address of the home being covered, and the policy period, meaning the start and end dates of your current term. Double-check that the address is right and that any spouse or co-owner who should be listed actually is. In Western Kentucky we see a fair number of homes that changed hands or added a spouse, and the policy never got updated to match.
You’ll also see your policy number and the carrier’s name here. Keep that policy number handy, because it’s the first thing anyone will ask for if you call in a claim.
Coverage A through F: what the letters mean
Most homeowners policies break your protection into lettered coverages. They look like alphabet soup at first, but each one is simple:
Coverage A – Dwelling. This is the amount to rebuild the house itself if it’s destroyed. It is not the price you paid or the county PVA value. It’s a rebuild cost, and it matters a lot. With building material and labor costs up over the last few years, a lot of homes across the Purchase and Pennyrile are insured for less than it would actually take to rebuild them today.
Coverage B – Other Structures. Detached garages, a storage shed, a fence, a dock. Usually set at a percentage of Coverage A.
Coverage C – Personal Property. Your belongings: furniture, clothes, electronics, kitchen stuff. Also typically a percentage of the dwelling amount.
Coverage D – Loss of Use. If a covered loss makes your home unlivable, this helps pay for a hotel or rental while repairs happen.
Coverage E – Personal Liability. If someone is hurt on your property or you’re found responsible for damage, this responds. Look closely at this number.
Coverage F – Medical Payments. A smaller amount that covers minor medical bills for a guest hurt at your home, regardless of fault.
Your deductibles — and why there might be two
Your deductible is what you pay out of pocket before the policy kicks in. Here’s the part that surprises Western Kentucky homeowners: you may have two deductibles. Many policies carry one flat deductible for most claims and a separate, often percentage-based deductible for wind and hail.
That wind/hail deductible is usually written as a percentage of your dwelling amount, not a flat dollar figure. On a home insured for $300,000, a 1% wind/hail deductible is $3,000. After the storm seasons we get around here, that’s a number you want to know before a hailstorm, not after.
Endorsements and what got added on
Toward the bottom you’ll often find a list of endorsements, sometimes called forms or riders. These are add-ons and adjustments to the base policy. This is where things like water backup coverage, service line coverage, or scheduled jewelry would show up. If you asked for a specific add-on when you set up the policy, this is where you confirm it’s actually on there.
The premium and the mortgage box
Near the total you’ll see your premium, which is the price for the term shown. If your taxes and insurance are paid through your mortgage escrow, you’ll usually also see your lender listed as the mortgagee. Make sure that lender is current, especially if you refinanced. When the mortgagee on the dec page is wrong, escrow payments and renewal notices can end up going to the wrong place.
What to check every year
You don’t need to read the whole policy every year, but a two-minute look at the dec page at renewal is worth it. Confirm the dwelling amount still makes sense for today’s rebuild costs, glance at your liability limit, note both deductibles, and make sure the names and mortgage information are right. Small changes over the years add up, and the dec page is the fastest way to catch them.
Get help
If you pull out your declarations page and something doesn’t add up, or you just want a second set of eyes on it, we’re glad to walk through it with you. As an independent agency serving Western Kentucky, we can look at your current coverage and talk through your options. Any changes to your coverage are subject to carrier approval. Call The Boswell Agency at (270) 925-1524 and we’ll help you make sense of it.
