When you purchase an insurance policy, you are considered the “policyholder”. As the policyholder, you are the official owner of the insurance policy–your name is directly listed on the insurance declarations page. When an incident occurs on your property, but another person is at fault, are they still covered if they are not named on your policy? Not always. There are many factors that go into deciding whether or not the claim will be paid out.
What does “additional insured” mean? Basically, additional insured is referring to anyone who is not the named policyholder that is covered by the insurance policy. Depending on the specific policy, the additional insured may be covered for one event, or for the entire existence of the policy.
This coverage typically applies to commercial policies. Coverage for the “additional insured” is not quite as extensive as the coverage provided for the actual policyholder. Coverages vary depending on the policy, state, and insurance company. However, the additional insured usually has what’s called defense coverage, and coverage for lawsuits from a third-party involved in the loss.
If you may need to add an additional insured to your policy, contact your independent insurance agent to see what the guidelines are for your specific insurance carrier.
By: KayLynn P.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search for a local agent with our agent finder map.
Read more about KayLynn's background.
What is a deductible, and do you know yours?
If you think you know everything about vandalism, think again. These fates could befall your AirBNB rental.
Churches own buildings, vans and even radio stations. They conduct multiple events both on and off church property. Does your church have sufficient insurance coverage?
Did you know that your rideshare work might not be completely insured? Before you get into an accident, this is what you need to know.
Umbrella coverage is perfectly named as it describes an added layer of liability coverage across your personal insurance policies. Learn more on our website.
Are you afraid of getting sued? If not, you probably should be. Luckily, you can protect yourself with umbrella insurance.
Home sharing has become an increasingly popular way to make extra money or meet expenses. Know the risks, however. Learn more about home sharing insurance.
Why is it called an insurance “premium” instead of cost or price? We don’t know either, but here are some common insurance terms everyone should know.
Food delivery service can be a good “side hustle” to make extra money. That is, as long as you are properly covered with auto insurance.
Life insurance offers an opportunity for you to leave a lasting legacy for your spouse, family or even a non-profit when you pass away.