An endorsement is a provision added to a policy that adds to the preexisting coverage.  An insurance endorsement, or rider, is an amendment to an existing insurance contract that changes the terms of the original policy.  An endorsement can be issued at the time of purchase, mid-term, or at renewal.  Adding an endorsement to your existing insurance policy usually means adding or modifying coverage.  For example, if you choose to purchase an optional coverage to broaden your insurance protection, it may be called an endorsement. 

A common endorsement on a homeowners policy is water backup coverage.  You may be able to purchase this to supplement a homeowners insurance policy.  When a coverage is not included on an insurance policy, (like water backup coverage or buried utility line coverage) an insurance company may offer it as an endorsement.  If the coverage is available by endorsement we can add it on your policy and the coverage will then be provided. 

On an auto insurance policy, you may be able to purchase an endorsement to provide expanded protection for a new car.  Depending on the company and coverage, this may include new car replacement coverage, or loan or lease gap protection coverage.  Gap Insurance can help pay the difference between the amount you owe on an auto loan or lease and the totaled vehicle’s actual cash value.  If the reimbursement check from the insurance company is not enough to cover what you owe on the loan/lease, gap coverage may help pay for the remaining amount on a loan – so you won’t be stuck paying for a car that is now at the scrap yard.

There are many endorsements available for both your home and auto policies.  Each home is different, and every driver.  No two insurance packages should be the same, but rather they should be tailored to meet your specific and individual needs.  To review your polices and discuss which endorsements will best fit your situation, give me a call at 724-575-7237. 

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