Dallas insurance lawyers need to be able to read an insurance policy declarations page. So do Grand Prairie, Richardson, Mesquite, Garland, and Carrollton lawyers.
Insurance policies normally have a declarations page or pages. The declarations page sets forth the identity of the insured, the policy limits, and the duration of coverage, and it identifies the attached policy forms. The San Antonio Court of Appeals and Houston Court of Appeals 14th, has said the main function of the declarations page is to customize the policy for the particular insured and the specific risks covered by the policy.
What insurance lawyers need to know is that in determining the coverage provided by an insurance policy, always to carefully review the declarations page, which will list the various forms and endorsements that constitute the complete policy. Comparing the declarations page to the actual policy is important because sometimes the insurer attaches the wrong forms or endorsements. In some situations, insurers have inadvertently omitted forms or endorsements at the time the policy is sent to the insured. By comparing the list of forms and endorsements set forth on the declarations page, it is possible to verify the precise forms and endorsements issued to the insured.
A declarations page will normally include the following information:
1) the named insured 2) the policy period 3) the designation of coverages 4) the policy limits and deductibles 5) forms and endorsements 6) certificates of insurance So what are each of these?
1) The “named insured” refers to the individual or entity that is expressly identified by proper name to be insured by the policy. There can be additional insured named and this is sometimes done by way of endorsement.
2) For the policy period, there are normally two important dates, (a) the inception date and (b) the expiration date. This can get complicated with certain types of policies and an experienced insurance law attorney needs to be consulted to understand the differences if you have a claim denied.
3) Usually preprinted forms contain the distinct coverages. The declarations page will state which of these coverages apply to the policy.
4) It is almost always that the declarations page states the limits of liability or policy limits provided by the policy. Sometimes it will refer to a schedule or endorsement for further explanation.
5) A policy often incorporates several distinct preprinted policy forms and endorsements, and in such situations the declarations page will usually list each of the attached forms and endorsements. Even if the endorsement is not physically attached to the policy, it will be deemed a part of the policy if it is identified in the declarations page.
6) The insurance company may issue certificates of insurance to persons insured under the policy in addition to the policyholder.
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