How to Read Your Florida Insurance Declarations Page

What the declarations page is

When your policy starts or renews, your carrier sends a packet of documents. The first page or two is usually called the declarations page, or "dec page." It is the summary of your policy: who is insured, what property or vehicles are covered, your coverage amounts, your deductibles and the policy period. The longer policy booklet explains the rules. The dec page shows how those rules apply to you.

Most people file it away without reading it. That makes sense, since it is not exciting reading. But it is the one page worth five minutes of your time, especially here in Florida, where home and auto policies often have details that matter after a storm or an accident.

Start with the basics at the top

Before you get to the coverage numbers, check the simple things:

• Names. Is everyone who should be on the policy listed? On auto, that includes the drivers in your household the carrier asked about.
• Address. For home, the property address should be exact. For auto, the garaging address (where the car is usually parked overnight) should be current.
• Policy period. Note the start and end dates so the renewal does not sneak up on you.
• Mortgage company or lienholder. If you refinanced your home or paid off a car loan, this may need an update.

Small errors here can cause headaches later, and they are usually easy to fix when you catch them early.

Homeowners: the coverage lines

A homeowners dec page usually lists coverages by letter. Names and details vary by carrier and policy form, but you will often see something like this:

• Coverage A (Dwelling): the structure of your home.
• Coverage B (Other Structures): things like a fence, shed or detached garage.
• Coverage C (Personal Property): your belongings.
• Coverage D (Loss of Use): extra living costs if you cannot stay in your home after a covered loss.
• Coverage E and F (Personal Liability and Medical Payments to Others).

For Coverage A, the useful question is not what your house would sell for. It is what it might cost to rebuild, and those can be very different numbers. If you have added a room, redone the kitchen or replaced the roof since the policy was written, mention it to your agent so the dwelling amount can be reviewed. You can read more about how we approach homeowners coverage on our site.

Deductibles, especially the hurricane one

Florida homeowners policies often show more than one deductible. There is usually one for most types of losses, like a kitchen fire or a burst pipe, and a separate hurricane deductible. The hurricane deductible is often written as a percentage of your dwelling coverage instead of a flat dollar amount, so it can be much larger than people expect.

Find both on your dec page and write them down somewhere you will see them. We go through this in more detail in our hurricane coverage checklist for Pasco homeowners.

While you are there, look for a list of forms or endorsements. These are the add-ons and changes that apply to your policy, and some of them limit or exclude certain things. If you see a form number and are not sure what it means, ask your agent to explain it in plain terms.

Auto: limits, deductibles and the cars themselves

According to the Florida Department of Highway Safety and Motor Vehicles, a vehicle with a current Florida registration must carry Personal Injury Protection (PIP) and Property Damage Liability (PDL), with a minimum of $10,000 in each. Requirements can change, so it is worth checking with the state if you are unsure. Your dec page will show those coverages along with any others you chose.

Here is what to look at:

• Liability limits. Bodily injury limits are often written as a pair of numbers (per person and per accident), with property damage listed next to them.
• Optional coverages. Things like uninsured motorist, collision and comprehensive appear only if you selected them.
• Deductibles. Collision and comprehensive usually each have their own deductible.
• Vehicles. Check the year, make and model of every car, and remove any you have sold.
• Drivers. Make sure the list matches who actually drives the cars, including a teen who recently got a license.

If you lease or finance a car, the lender may require certain coverages, so check your loan paperwork too.

Flood usually has its own page

Standard homeowners policies typically do not cover flood. If you have flood insurance, it is usually a separate policy with its own declarations page, its own deductible and its own renewal date. Keep it with your homeowners dec page so you can see the full picture in one place. If you do not have flood coverage and live anywhere near water in Pasco or Hillsborough County, it is worth a conversation.

A quick checklist for every renewal

• Did anything change this year? New roof, renovation, new driver, new car, paid-off loan.
• Do your dwelling and personal property amounts still make sense?
• Do you know your deductibles, including the hurricane deductible?
• Are all drivers and vehicles listed correctly?
• Is the mortgage company or lienholder correct?
• Do you have a separate flood policy, and when does it renew?

Save a photo or PDF of each dec page on your phone so you are not digging through a drawer after a storm or a fender bender. If you would like a second set of eyes, our team in Land O' Lakes is happy to go over your current dec page with you and explain what you have. You can request a review online or give us a call.