What is an "endorsement" in the context of an insurance policy?

An endorsement in the context of an insurance policy refers to a written amendment or addition that modifies the original terms or coverage of the policy. This can include adding, removing, or altering specific provisions, coverage limits, or conditions of the insurance agreement. Endorsements allow policyholders to customize their coverage to better meet their needs, such as adding coverage for specific events, increasing limits, or excluding certain risks. By providing a legal mechanism to adjust the insurance policy post-issuance, endorsements play a crucial role in ensuring that insurance coverage aligns with the policyholder's changing circumstances.

The other options represent various aspects of insurance policies but do not accurately define what an endorsement is. For instance, a type of insurance policy specifically for liability coverage describes a category of policy rather than a modification. A statement of the policyholder's rights and responsibilities would pertain to the obligations under the insurance contract but is not considered an endorsement. Lastly, a summary of coverage limits provides an overview but does not involve changes to the policy itself, which is the primary purpose of an endorsement.