What must be included in the declarations section according to policy standards?

The declarations section of an insurance policy serves as a summary of the key details of the policy, providing essential information to both the insurer and the insured. This section typically includes the maximum limit of policy coverage and deductibles, which are critical for understanding the extent of financial protection offered by the policy. Knowing the maximum limit helps policyholders grasp how much coverage they can expect in the event of a claim, while the deductibles outline the amount the insured must pay out-of-pocket before the insurer covers the remainder of the loss.

The other options, while they may pertain to various aspects of insurance policies, are not standard inclusions in the declarations section. For example, emergency contacts might be relevant for individual policies but aren’t universally dictated in standard policy declarations. A list of third-party beneficiaries and discounts available for policyholders can be important for specific policy types or endorsements, but they do not typically form a fundamental part of the declarations section. Thus, including the maximum limit of policy coverage and deductibles is essential to ensure clarity regarding coverage specifics.