What is an addendum to a contract that alters the original terms, conditions, or coverages called?

An addendum that alters the original terms, conditions, or coverages of a contract is specifically referred to as an endorsement in insurance terminology. An endorsement modifies, adds, or deletes provisions of the original insurance policy, providing flexibility to tailor the coverage to meet the needs of the policyholder after the policy has been issued. This can involve changes like adding coverage for a specific event or changing the limits of liability.

While terms like supplement, amendment, and addendum are often used interchangeably in general contexts, in the realm of insurance, "endorsement" has a precise definition and a unique place in the framework of policy modification. Understanding this distinction is crucial for accurately navigating insurance documents and agreements.