What is used to modify the coverage provided under an insurance policy?

The correct answer is endorsement because it serves as an addition or modification to an existing insurance policy, allowing policyholders to enhance or change their coverage. Endorsements can either increase coverage, limit coverage, or change specific terms and conditions of the policy, making it a flexible tool for customizing insurance to better meet individual needs and circumstances.

Other terms listed, such as exclusions, modify coverage by specifically defining what is not covered under the policy. A deductible represents the amount the policyholder must pay out of pocket before the insurance kicks in, but it does not directly modify the terms of coverage itself. A rider is similar to an endorsement in that it also amends or adds to the policy, but in general insurance terminology, an endorsement is more widely used and recognized for this purpose.