by 
The Curious Bag
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A homeowner's insurance declaration page outlines the fees and coverage of the insurance on the home. It gives a detailed overview of the policy on the home.
Significance
Homeowner's insurance protects the homeowner by providing reimbursement if the house is damaged by an outside force, such as Mother Nature or an accident.
Function
The declaration page gives borrowers and potential lenders an overview of the coverage on the home and the annual fees associated with that coverage. It also list any mortgage companies that have liens on the home.
Types
The declarations page lists any additional policies on the home, including flood insurance and personal-property insurance.
Considerations
A copy of the declarations page must be given to any new lienholder on the property. Additional debts on the property will have to be listed on the declarations page as they occur.
Misconceptions
The declarations page is not a certificate of coverage; it simply states the fees and types of coverage on the home.
Source:
MilitaryFinance.UMUC.edu: Homeowner's Insurance Worksheet
UPHelp.org: A Simplified Guide to Your Homeowner's Insurance Declaration Page
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