Get Additional Insured--owners, Lessees Or Contractors (form B)

Typically, the property owner requires that the tenant indemnify the property owner from any liability caused by the tenant. As such, the tenant most often lists the property owner as an additional insured under the tenant's insurance policy.

The additional insured benefits from coverage and rights under the named insured's policy in the event of a claim. The purpose of additional insured endorsements is to keep the burden of risk closest to those parties most likely to create losses, which typically is third parties contracted to perform the work.

An additional insured is different from an additional interest. Your landlord shouldn't be listed on your renters insurance policy as an additional insured. Having an additional insured on your renters insurance means that you would be paying to cover them and their personal property too.

Additional insured coverage can protect your organization from liability due to contractors' and subcontractors' operations. Liability insurance covers losses due to claims your company, employees, products or services caused harm or wrong to a third party.

If the client is added as a named insured, the insurer may deny any claim against the policy. Being a named insured may make the owner liable for claims filed by third parties. This increased exposure may lead to third-party claims that exhaust the policy limits – thus stripping away the client's protection.

Property owners, both commercial and residential, commonly require any contractor working on their property to deliver a “certificate of insurance” naming the property owner as an “additional insured.” This often arises when a resident owner wishes to renovate his/her apartment in a co-op or condo building or an ...

Typically, the need to obtain status as an additional insured will be included along with other specifications of each insurance coverage. Typically, a general best practice is that any subcontractor working on behalf of a contractor should also name the contractor as an additional insured in their liability policies.