Are Home Endorsements Right for You?

Are Home Endorsements Right for You?

Are Home Endorsements Right for You?

Learn what a homeowners insurance endorsement can do for you.

If you need to change your homeowners insurance coverages, you might dread the idea off having to shop around for a brand-new policy. However, you don’t always need a completely new policy to change the scope of your homeowners coverage. Adding an endorsement onto your homeowners insurance policy is one way to adjust your coverage to better fit your needs. Here’s what you need to know about home endorsements and your coverage.

What is an endorsement?

An insurance endorsement, also known as a policy rider, is an amendment or addition to an existing insurance policy that changes the terms or scope of its coverage. For instance, you can add an endorsement onto your homeowners insurance policy to extend or limit certain coverages. Additionally, an endorsement can be used to remove people or locations from your policy as well. Depending on the coverage changes that an endorsement makes, your premiums will be adjusted accordingly.

How long are the changes valid?

When you add an endorsement, it simply works as an extension of the original policy. This means that any changes the endorsement makes remain valid until the policy is up for renewal. At this point, the terms of the endorsement can simply be renewed along with the rest of the policy. However, there are certain endorsements that come with a set term length. The coverage changes made with these endorsements will simply last until the term length ends.

This is how adding an endorsement onto your homeowners insurance policy can help you. Do you have additional questions regarding your homeowners insurance? Don’t hesitate to contact the experts at Club Agency Insurance Brokerage in Garden City, New York. Our dedicated team is ready to assist you with all your coverage needs today.