Understanding Your Homeowner’s Insurance Policy

Understanding Your Homeowner's Insurance Policy

Homeowner’s insurance is an important insurance policy to own. It can help protect you from financial detriment if an unexpected accident were to happen to your residence.

If you are looking for homeowners insurance Newark DE, you should know that each homeowner’s insurance policy comes with specific provisions that make up the policy.

Declarations Page

The declarations page provides information that is specific to the particular insured. The name of the insured, the insurance limits, the building address, a property description and the start and expiration dates of the insurance plan can all be found in the declarations.

Insuring Agreement

The insuring agreement is the statement that outlines the coverage that the policy is providing. This is often referred to as the “promise” that the insured is making to the insured.


This section outlines specific duties or requirements for each party that must be upheld. For example, it is a condition of the insurance policy that the insured cooperate with the insurer in their investigation of a claim. Also, if there is disagreement about a settlement amount, an appraisal condition is often included.


Understanding the definitions of specific words is important when determining if coverages or exclusions apply. Bolded words are defined by the policy. Words that are not specifically defined are defined by their standard definitions.


Endorsements can add or subtract coverage. For additional premium, extra coverages may be available by endorsement. To reduce premium, exclusionary endorsements may be added that restrict coverage.


Exclusions are specific details of what the policy will not cover. They can be included in the base coverage of the policy as well as by endorsement. There are many standard exclusions, such as war, wear and tear, nuclear disasters and water.  Some are set in stone, but others come with exceptions.

Choosing the right homeowner’s insurance policy is an important part of owning a home. Talking with an insurance professional can help you find the best policy for your needs.

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