Here’s what adding an endorsement to your homeowners insurance policy can do for you.
Want to change you home insurance coverage but hate the idea of shopping for a brand-new policy? Consider adding an endorsement to your home policy. But what is an endorsement and what can it do for you? Here’s what you need to know.
What is an Endorsement?
An 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 to extend or limit certain coverages. Additionally, an endorsement can be used to add or remove people or locations from your policy as well. Depending on the changes that an endorsement makes, the policy’s premiums may be adjusted accordingly.
How long to endorsement changes remain valid?
When you add an endorsement, it operates as an extension of your original policy. This means that any changes that the endorsement makes will remain valid until the expiry of the policy. At this point, you can simply renew the terms of the endorsement along with the rest of your policy. There are some endorsements with a set term length, and these changes will expire once the term ends.
This is what a home endorsement can do for you. Do you have additional questions regarding your homeowners insurance? Contact the team at Steve Wilk Insurance Agency for assistance. Located in Illinois, check out our new office at 310 S Main Street, Suite C, Lombard, IL 60148.