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The number of endorsements available to tailor a homeowners policy is extensive.


Underwriting a homeowners policy involves identifying the exposures, assessing the exposures, and placing the risk in the appropriate program made available by the applicable insurer.


ISO has a filed methodology to guide carriers in their rating of homeowners policies. Although the rates will vary by carrier, the types of factors and the methods used to apply them are fairly


Generally insurers develop their own homeowners declarations to meet their specific needs, including any requirements to conform with applicable state law. ISO provides advisory form HO DS 01, Homeowners Policy Declarations. If a company wishes to make use of it, the form would have to be independently filed for use. The form includes space for:
•     the name and address of the insurer
•     policy number
•     agency's name and mailing address
•     name of the insured
•     mailing address of the insured
•     location of the residence if it is NOT the mailing address


A space is available to enter the policy period. That period starts and ends at 12:01 a.m. at the residence premises. A space is also available for the number of policy years.

The next portion of the declarations includes a statement that the insurer will provide insurance protection as presented in the applicable policy in exchange for compliance with policy terms
and premium payment.


The next section lists the policy's coverage sections, premiums (basic, additional and total) and liability limits.

Additional space on the form is reserved for:
• list of the forms and endorsements that apply to the Homeowners policy or coverage section - typically includes both mandatory and optional forms, including edition dates
• Section I deductible and other applicable deductibles
• location addresses of any additional premises the insured owns, rents, or occupies
• any mortgagee(s) or other loss payees that may apply, including their mailing address


Under this provision, the insurance carrier agrees to provide homeowners insurance (as described in the following policy pages) in exchange for the named insured's paying the policy premium
AND complying with the required policy provisions.

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