An insurance endorsement (also called a rider or policy amendment) is a written change or addition to your existing insurance policy. Endorsements modify the coverage, terms, or limits of your policy without replacing the entire policy.
Why Endorsements Are Important
Endorsements allow you to customize your insurance coverage to fit your specific needs. They can:
- Add or remove coverage for certain risks
- Change policy limits or deductibles
- Correct errors or update information, such as a new address or additional property
Common Examples of Endorsements
- Adding a valuable item – jewelry, art, or collectibles that exceed standard policy limits
- Business use of a vehicle – covering a personal car used for work purposes
- Home improvements – adding coverage for a newly built structure or renovation
- Special liability coverage – for specific activities, like renting a space or hosting events
- Waiver of deductible – removing or reducing your out-of-pocket expense under certain conditions
Key Takeaways
- Endorsements change your existing policy without requiring a new policy.
- They help ensure your coverage matches your evolving needs.
- Most endorsements may affect your premium—either increasing or decreasing it.
Bottom line:
An endorsement is a flexible tool to customize and update your insurance coverage. It ensures your policy protects exactly what you need, when you need it.