Coverage
What Is a Declarations Page and Why Your Agent Needs It
The one page that tells you who is insured, for how much, and until when. How to find it and how to read it.
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Plain-language coverage insurance guides from Olive Cover. Practical coverage information for Georgia and Alabama homeowners, drivers, and business owners.
Coverage
Actual Cash Value vs Replacement Cost: The Single Setting That Decides Your Claim Payout
When a roof or appliance is destroyed, actual cash value pays the depreciated value, often half the cost to replace. Replacement cost pays the full amount. The premium difference is small.
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Coverage
What does umbrella insurance pay for that a home or auto policy will not?
An umbrella policy pays the part of a claim that exceeds your home, auto, or other underlying liability limits, up to the umbrella's own much higher ceiling. Every…
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Coverage
How is my deductible subtracted from a claim payment?
A deductible comes off the top of a covered claim: the carrier calculates the full covered loss amount, subtracts the deductible, and pays the difference. If a covered…
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Coverage
What is a declarations page and why does it matter?
A declarations page, often called the "dec page," is the one-page summary at the front of your insurance policy that lists the key facts of your coverage. It…
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Coverage
Why does my policy have more than one deductible?
A single policy commonly carries more than one deductible, because different types of loss are priced and triggered separately. A homeowners policy often has one deductible for most…
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Coverage
What changes on my declarations page at renewal?
A declarations page changes at every renewal, even when nothing about your home or driving has changed. The dwelling limit often moves with an inflation guard endorsement that…
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Coverage
Do liability claims have a deductible?
No. Liability coverage, the part of a policy that pays someone else when you are legally responsible for their injury or property damage, does not carry a deductible.…
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Coverage
What does liability coverage pay for when I am at fault?
Liability coverage pays when you are found at fault for an accident that injures someone else or damages their property. Your policy covers the other person's medical bills,…
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Coverage
What is replacement cost vs. actual cash value?
The difference comes down to depreciation. Replacement cost pays what it takes to buy a new item or rebuild your property today, with no deduction for age or…
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Coverage
What is the difference between a business owners policy and a commercial package policy?
A business owners policy (BOP) and a commercial package policy (CPP) both bundle multiple coverages into one policy, but they differ in eligibility and flexibility. A BOP is…
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Coverage
How do I read my declarations page?
Reading a declarations page means matching each line on the page to what it controls. The named insured and address confirm who and what is covered. The coverage…
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