Full Definition
An endorsement (also called a rider in life insurance) is a formal written amendment to an insurance policy that changes the terms, conditions, coverage, or limits. Endorsements can broaden coverage (additional insured endorsement, waiver of subrogation), restrict coverage (exclusion endorsements), or modify policy terms (change deductibles, add locations). Endorsements take precedence over the policy form when there is a conflict. Common endorsements include additional insured, waiver of subrogation, primary and non-contributory, and per-project aggregate. Every endorsement should be reviewed carefully as it modifies the coverage contract.
Related Terms
Explore More