what is an insurance rider

An insurance rider, also known as an endorsement, amendment, or scheduling an item, is an addition to an existing insurance policy that allows the policyholder to add specific insurance products to their basic coverage. It can be added to various types of policies such as life, home, auto, rental, and more. Riders provide the flexibility to customize coverage based on the policyholders needs, priorities, and goals. They can expand or restrict coverage and typically come at an additional cost. Riders require minimal underwriting, which lowers the cost of coverage, and offer benefits such as tailoring coverage to meet specific needs and providing additional coverage options. Ultimately, adding an insurance rider to an existing policy is a relatively low-cost way to tailor coverage to individual needs.