What you Need to Know About Endorsements

Endorsements for Commercial Insurance

If your commercial insurance coverage needs change after you invest in a policy, you may not have enough coverage for any peril that you encounter at your business. Luckily, endorsements are available to help raise your coverage limits to ensure that you have the protection that you deserve.

There are two main types of endorsements to look at, standard and non-standard. A standard insurance endorsement is issued by your insurance service organization. These are the most common type of endorsements, and are readily available. Standard endorsements have been used for years and tested in court, which allows insurers to gauge how a specific endorsement may be interpreted in court in the future.

Non-standard endorsements are written by insurers to help set themselves apart from their competitors. Insurers can also write a non-standard endorsement for a specific purpose that no standard endorsement will cover. Most non-standard endorsements are simply variations of standard endorsements that are needed to meet a certain need.

Some non-standard endorsements are written for a specific policy. These types of endorsements are known as manuscript endorsements and are designed to only be used on one specific policy to address a unique situation. These types of endorsements are typically written completely on their own, without using a standard endorsement as a template.

Endorsements can either be mandatory or voluntary. You have the option to add a voluntary endorsement to your insurance policies if you want extra coverage. However, with a mandatory endorsement, your insurance company is required by law to add it to your policy, such as a cancellation condition that will restrict your ability to cancel a policy.

For all of your commercial insurance needs to ensure that you are protected from any situation that you may run into, contact Desert Empire Insurance in Palm Desert, California.