Midterm endorsements that change the risk profile of the policy will result in premium adjustments. Standard changes such as replacing a scheduled vehicle or residence, or adding a Named Insured typically do not affect premium. However, when the underlying risk changes (e.g., adding a driver or an additional property), the premium will be adjusted on a pro-rata basis for the remaining policy period.
Making Multiple Endorsements
Need to make more than one change? Simply select the Additional Policy Change button to add another endorsement to your transaction. All changes are processed together in a single payment, no need to handle each one separately. However, it is important to note that changes requiring different effective dates must be processed as separate requests to ensure compliance and accuracy.
Underwriter Review
If any change requires underwriter review, the agent will be notified that it is pending review and will receive an email once a decision has been made.
Important: Effective Date Limitations
Effective Dates can only be set forward or backdated by a maximum of 30 days when processing an endorsement. For example, if one change needs to be effective immediately and another at a future date, they must be submitted as separate endorsements. Additionally, changes with different effective dates cannot be combined in a single policy change request and must be processed individually.
Additional charges will be processed through the system using the same payment methods available at policy inception. Any resulting refunds will be generated electronically and issued directly to the insured.
If you need to model multiple changes effective at the renewal date, you can create a quote on the current policy term. However, note that the resulting premium may not match the actual renewal premium if renewal rates have changed.