Where are the limits of liability typically stated in an insurance policy?

The limits of liability in an insurance policy are typically stated on the declarations page. This page serves as an overview of the policy and includes essential information such as the insured's name, the insurance company's name, the policy number, and the coverage limits.

The declarations page is crucial because it outlines what is covered, the extent of the coverage, and the financial responsibilities of the insurer. These limits define the maximum amount the insurance company will pay in the event of a covered loss, which is vital for the policyholder to understand in order to manage their risk appropriately.

While the policy schedule may summarize various aspects of the insurance agreement, and endorsements can modify coverage or terms, it is the declarations page that specifically presents the limits of liability in a clear and accessible manner. The appendix, if present, usually contains supplementary information or legal jargon, but it does not typically include critical coverage details like limits.