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In insurance policies, an additional insured is a person or organization who enjoys the benefits of being insured under an insurance policy, in addition to whoever originally purchased the insurance policy. [1] [2] [3] The term generally applies within liability insurance and property insurance, but is an element of other policies as well. Most ...
With homeowners insurance, there are a few reasons why you might want (or need) to add either an additional interest or an additional insured to the policy. First, if you have a mortgage, your ...
The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer. [ 2 ] : 10 In some cases, however, supplementary writings such as letters sent after the final agreement can make the insurance policy a non-integrated contract.
A limited number of communities require that tenants list them on the policy as additional insured. This actually makes it more difficult for a property owner or manager to recover from a tenant's liability policy because the additional insured is a party to the policy rather than a third party, which would be eligible for coverage.
This article examines emerging areas of certainty and uncertainty in AI coverage in the wake of 'Burlington' (arguably the most impactful recent decision in the world of additional insured ...
A full-coverage auto insurance policy combines three key protections — liability, comprehensive and collision coverage — into one complete package. Additional add-ons can enhance your ...
A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy.
HO-8 policies: The HO-8 home insurance policy is designed specifically for historic homes or older ones that are more challenging to replace. This may be because the homes have to meet historical ...