Look at the policy declarations below to learn where you can find important information about your homeowners policy.

Policy period

Your policy period is the length and effective dates of your policy. Your declarations page will clearly spell out your effective date (when your policy begins) and your expiration date (when your policy ends). Your policy "period" or "term" refers to how long your policy is in effect before you need to renew. Home policies typically cover a 1-year period.

Location of property

This is the address of your insured property.

Total premium

Your home insurance premium is the amount you'll pay for your property's insurance protection for a one-year period and includes all the coverage you've selected. It is listed on the declarations page.

Coverage

On your declarations page, you'll find a listing of the coverages included on your homeowners insurance. Be sure to review these carefully to make sure you have all the coverage you need to protect you from life's uncertainties.

Deductibles

Included with your insurance coverages and limits, you'll also see any applicable deductibles. Deductibles are the amount you agree to pay out of your own pocket when you file an insurance claim.

Discounts

On your home insurance declarations page, you'll see all the discounts applied to your premium for the current policy term. Most insurers offer discounts for everything from bundling with your car insurance to having a hail-resistant roof. Read through your discounts to make sure you're getting the best rate you can from your insurance company.

When will you need your homeowner insurance declaration page?

If you have a mortgage, your mortgage company will typically require you to provide an up-to-date declarations page for proof of your homeowners insurance about once a year to ensure you have adequate financial protection for your house.

If you don't provide this proof of insurance, your lender has the right to purchase homeowners insurance in your name and add the premium to your mortgage payments. This is called 'force-placed insurance'. It's generally much more expensive than your standard home policy, and often the coverage isn't as comprehensive — another good reason to make sure your homeowners insurance is up to date and meets your needs.