What are endorsements typically used for in insurance policies?

Endorsements in insurance policies are commonly utilized to modify or add coverages. They serve as amendments to the terms of the original policy, allowing policyholders to tailor their coverage to better fit their individual needs or to address specific situations that may not have been adequately covered initially. For example, a homeowner may add an endorsement for personal property coverage for valuable items such as jewelry or art pieces, which may not be fully covered under the standard policy.

The flexibility that endorsements provide is crucial because they enable policyholders to expand their insurance protection without having to purchase an entirely new policy. Additionally, endorsements can help clarify coverage details and address any gaps in the policy that could leave the insured vulnerable. This adaptability and specificity are central to why endorsements are valued in the insurance industry.