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The usual reasons for including other parties as additional insureds is due to the close relationship or legal requirements between the original named insured and the additional insured. In most cases it is beneficial for a party to be covered as an additional insured on the policies of other parties because this will reduce the loss history of ...
Additional insureds usually reflect a business relationship between the policyholder and additional covered party. These types of arrangements most commonly appear on liability and commercial auto ...
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 ...
The cost of homeowner's insurance often depends on what it would cost to replace the house and which additional endorsements or riders are attached to the policy. The insurance policy is a legal contract between the insurance carrier (insurance company) and the named insured(s). It is a contract of indemnity and will put the insured back to the ...
Additional living expenses: Homeowners insurance generally covers additional living expenses you incur while repairs are being done up to a certain period of time or coverage limit. That means ...
Declarations - Identifies who is an insured, the insured's address, the insuring company, what risks or property are covered, the policy limits (amount of insurance), any applicable deductibles, the policy number, the policy period, and the premium amount.
Additional factors that influence your premium include your claims history, how much coverage you purchase and your deductible level. Frequently asked questions. Yes. HO-4 insurance is the same ...