Which policy allows changes to be made without reissuing the entire contract?

The Endorsement Policy is the correct choice because it specifically allows for modifications to be made to an existing insurance contract without the need to reissue the entire document. An endorsement, also known as a rider or amendment, serves as an addition that alters the original terms of the policy or expands coverage, thus providing flexibility to the insurer and the insured.

This feature is crucial in the insurance industry, as it enables adjustments to be made in response to changes in circumstances or needs, while maintaining the continuity of the original policy. For instance, if a homeowner wants to add coverage for a new structure or amend the coverage limits, this can be accomplished efficiently through an endorsement.

Other options do not possess this specific feature. A Standard Policy typically refers to a fixed form of coverage without built-in flexibility. An Open Policy might suggest broader coverage terms but does not emphasize the specific capacity for alterations without a complete revision. A Basic Policy usually refers to the most fundamental level of coverage with limited adjustability. Thus, the Endorsement Policy stands out as the option that specifically caters to the need for modifications without the administrative burden of rewriting the entire contract.