YOU ASK:
What is the definition of Declaration?
WE ANSWER:
The Declaration contains the policy's important information. This includes the policyholder's name and address, as well as the risk being insured. It also states the period when the policy is in force, as well as the premiums that are to be paid. For property insurance, the declaration will also describe the property in detail.
When receiving your insurance policy, it is important for you to check the declaration to ensure that there are no mistakes as to the coverage of your policy. It is important that the details are correct, or else there will be problems when it comes to claiming for the benefits.
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