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What are the different types of endorsement?

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Wiki User
10/01/2010

An insurance endorsement (also known as a rider) is a document that is attached to an insurance policy which changes the coverage provided through that policy.

There are many different types of endorsements based on what kind of insurance that you are modifying. Some standard endorsements for the three (3) key insurance types are as follows:

AUTO INSURANCE

* Customization endorsement (covers mods to vehicle)

* Out of country (Canada/Mexico) endorsement (covers travel across North America)

* Rental car endorsement (covers a rental car in the event of an accident that disables the car)

HOMEOWNER'S INSURANCE

* Flood endorsement (covers all types of floods beyond the basic puddle of water in the basement)

* Valuable objects endorsement (covers objects/items that are of higher value)

* Identity endorsement (covers various levels of identity theft and the cost to combat them)

LIFE INSURANCE

* Premium pay-back endorsement (for term policies that are not used, the policyholder gets back all of their premiums)

* Extended limb endorsement(s) (covers arms, legs, eyes, and other limb injuries at higher-than-standard rates)

* Co-death endorsement (covers those that may die with the policy holder at the same time, generally for low coverage amounts)