endorsement
en-DAWRS-muhnt
/ɪnˈdɔːrsmənt/
An amendment, rider, or addition to an existing insurance policy that modifies its original terms, coverage, or exclusions.
In insurance, an endorsement is used to customize a policy, such as adding coverage for a high-value wedding ring or changing the deductible. In general English, it means public approval or support.
The story behind the word. Historically, before digital databases, if you wanted to change the terms of a contract, the clerk would literally flip the parchment over and write the changes on the back ('dorsum'). Thus, an 'endorsement' is physically written on the back of the policy.
Word relationships
- rider: A rider is a specific type of endorsement that adds benefits to a policy; the terms are often used interchangeably in personal finance.
- amendment: An amendment is a general legal change to any contract, while an endorsement is specifically used for insurance policies.
- cancellation: A cancellation terminates a policy entirely, whereas an endorsement merely modifies it.
Commonly confused with
- exclusion: An endorsement typically adds or modifies coverage, while an exclusion completely removes coverage for specific risks.
Word family
- endorse (verb): To sign, approve, or modify a document.
- endorser (noun): A person who signs or approves a document.
Collocations
- policy endorsement
- special endorsement
- add an endorsement
- written endorsement
Example sentences
- "She added an endorsement to her homeowner's policy to cover her expensive diamond engagement ring." Homeowners Insurance
Memory hook
Think of writing a change on the 'back' (dorsum) of your policy to 'endorse' a new item. Endorsement is written on the back.
When not to use
Do not use in an insurance context to mean a celebrity spokesperson promoting a product, though they share the same spelling.
Fun facts
- The dorsal fin of a dolphin gets its name from the same Latin root 'dorsum' (back) as 'endorsement'.
Related words
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