Endorsement
Definition of "Endorsement"
Written agreement attached to a policy to add or subtract insurance coverages. Once attached, the endorsement takes precedence over the original provisions of the policy. For example, under a homeowners policy an inflation guard endorsement is used so that property damage limits are increased automatically to reflect an increase in the cost of construction in the community. Vandalism and malicious mischief can be added to the Standard Fire Policy through an endorsement.
Popular Insurance Terms
Section of the insurance company that administers claims for the losses incurred by the insured. ...
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Written contract between an insured and an insurance company stating the obligations and responsibilities of each party. ...
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