27 Sep 2018
What You Need to Know About Home Endorsements

Should you add an endorsement to your homeowners insurance policy?

If you need to adjust the coverages included in your homeowners insurance but do not want to secure a completely new policy, consider tacking an endorsement onto your existing policy. Not sure what adding an endorsement to your policy will do for you? Here’s what you need to know.

Insurance Endorsement Basics

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

How They Work

Once you add an endorsement onto your policy, it essentially becomes a part of it. This means that the changes that your endorsement makes will remain valid until the expiry of your homeowners insurance policy. At this point, you can simply renew the conditions of your endorsement just like you would the rest of your policy. There are some cases in which endorsements are only valid for a limited amount of time. These endorsements come with a term length and, obviously, the changes that the endorsement makes will only be valid during this time.

This is what you need to know about home endorsements.  Do you have additional questions regarding your homeowners insurance?  Don’t hesitate to contact the experts at Patterson & Associates in Richardson, Texas.  We are ready to assist you with all your coverage needs today.