What Does Automatic Increase in Insurance Endorsement Mean?

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What does Automatic Increase in Insurance Endorsement mean? Read on to discover the definition & meaning of the term Automatic Increase in Insurance Endorsement - to help you better understand the language used in insurance policies.

Automatic Increase in Insurance Endorsement

Automatic Increase in Insurance Endorsement

An automatic increase in insurance endorsement is an addition to a property insurance policy that renders coverage limits on buildings flexible to inflation rate. It takes into account the changes to the cost of construction so that there is an automatic change in the insured property's coverage whenever there is a change in the costs. This protects the insured from a loss due to inflation.

We hope the you have a better understanding of the meaning of Automatic Increase in Insurance Endorsement.

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