Dec 122021
Additional Insured Endorsement allows a person or organization to enjoy the benefits of being insured under an insurance policy, in addition to whoever originally purchased the insurance policy.
Benefits for a party to be covered as an Additional Insured on the policies of other parties include:
- Additional Insured is allowed the right to file a claim if sued under the Named Insured’s policy.
- Additional Insured’s loss history is reduced.
- Additional Insured’s premiums are lowered.
- Losses will be posted against Named Insured’s policy.
- Premiums will rise on Named Insured’s policy.
- Additional Insured receives Notice of Intent to Cancel or Notice of Cancellation at the same time as Named Insured receives such notices.