Family Protection Endorsement
Definition - What does Family Protection Endorsement mean?
A family protection endorsement is a non-mandatory auto insurance option designed to provide protection for losses to the insured's family members by a driver who is underinsured or does not have car insurance. An additional premium must be paid for this endorsement to a standard auto insurance policy.
Insuranceopedia explains Family Protection Endorsement
Even if the insured has a comprehensive insurance policy that offers a wide range of coverage, it is impossible to know in advance the amount of insurance the at-fault party may have. If they have gaps in their insurance coverage or lack insurance altogether, then the insured may find themself responsible for more costs than anticipated. Though it is illegal to drive without auto insurance, that doesn't mean everyone obeys the law. Family protection endorsements protect against these types of unanticipated losses.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.