What is an insurance endorsement?

Sometimes, what’s covered by the business or personal insurance the policyholder is about to subscribe just doesn’t add up to everything he or she needs. Sometimes, the policyholder just wants more, sometimes he or she just wants specific items or situations not clearly covered by the insurance policy to be included. This does not mean that the insurance provider cannot cater for these specific needs. This is when insurance endorsements are needed.

Insurance endorsements are special provisions added to an insurance policy, usually as written attachments, to enlarge or restrict its coverage. This written attachment to the insurance policy, sometimes called a “rider”, can alter almost any element of the policy’s terms, coverage or conditions.

As far as business insurance products are concerned, they can be especially useful for business equipment insurance or business contents insurance, in order to include goods which would be normally excluded by the coverage - and there can be many such items.

Goods in transit insurance policies may very well include insurance endorsements related to political risk in case the shipment may originate from, go to or through politically unstable regions. Restaurant insurance policies may have endorsement to add extra tables, or extra rooms to the policy.

Personal insurance products like home insurance policies may typically include insurance endorsement related to:

- inflation guard,

- scheduled personal property,

- personal injury,

- or even earthquakes!