West Virginia Adjusters Practice Exam

What does the 'insurance declaration page' summarize?

1. The total number of claims filed

2. The coverage and limits of an insurance policy

3. The history of previous claims

4. The responsibilities of the insured

The correct answer is: The coverage and limits of an insurance policy

The insurance declaration page serves as a concise summary of the coverage and limits provided by an insurance policy. It is typically the first page of an insurance contract and includes essential information such as the policyholder's name, the coverage types, the effective dates of the policy, the limits of liability for each coverage, any deductibles that apply, and the premium amount. This page is crucial for both policyholders and adjusters as it lays out the terms of what is covered and the extent of protection in the event of a loss. Understanding the declaration page is essential for assessing insurance claims and ensuring that both parties are aware of the policy's specifics.