What does Addendum mean? Read on to discover the definition & meaning of the term Addendum - to help you better understand the language used in insurance policies.
An addendum is an addition to an insurance contract that either adds or removes coverage for a particular circumstance. It is included if either the insurer or the policyholder feels the need to adjust coverage. Once added, it too becomes legally binding, along with the original contract.
We hope the you have a better understanding of the meaning of Addendum.