How to deal with risks excluded
from a standard policy? -
Specialized Insurance
Endorsement - an amendment, extending or
changing the underlying insurance coverage
Examples: replacement cost coverage endorsement on
personal property, inflation guard endorsement, small
business pursuit endorsement
Floater - contains scheduled property; property
described in terms of type, quality, and value
Examples: wedding ring, a valuable collection
Umbrella Policy - extends limits on an underlying
homeowners’ policy and a family auto policy