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Insurance Glossary D

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Debris removal clause

A consequential coverage commonly included in direct loss policies. For example, fire policies limited recovery for the insured’s cost of removing the debris after a covered fire. Not to be confused with "removal." 

 
Declaration page or Dec page

The section of a policy (usually the cover page of the policy) that states the name and address of policyholder, location of the insured property and description, the policy period, premiums and supplemental information. 

 
Deductible

Out-of-pocket amount that must be paid by the policyholder before the insurance company pays a claim. 

 
Deposit premium

When the price of insurance is tied to fluctuating values or costs that cannot be known until the end of the policy period, inventory or payroll are two common examples, a deposit or provisional premium or estimated premium may be charged at the outset of a policy with final adjustment to come at the end of the term. 

 
Depreciation

A property ages and becomes worn it often loses value and that has to be taken into account in any property insurance that covers loss of actual cash value. 

 
Driver Other Car (DOC) endorsement

A business auto or garage policy endorsement providing coverage for named individuals while driving non-owned autos in situations related to the business of the insured. 

 

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