I’m an insurance agent, this isn’t uncommon. In the realm of additional insured endorsement coverage cases in the landlord-tenant context, litigants often refer to rival lines of cases—Harrah’s Atl. Your liability policy should protect you should you be sued for a dog. Would there be a conflict of interest if the tenant starts a fire. We’ve written at length on additional interest vs. additional insured. The risk transfer is different with the different coverage form. But putting that aside for a moment, let’s take a look at some of the impacts of no longer being able to use a lease that requires additional insured on a tenant’s insurance policy. I'm sure you can see that from the replies you've gotten here. Insurance requirements can be lengthy at many different times during the course of a lease. Landlords and building owners commonly require tenants to name them as additional insured. Covering your landlord as an additional insured. After endorsement , … The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. This is his stated reason for asking this: "Additional insured is necessary for me as the condo owner to have the access to the liability on the policy so that if a claim is presented against me and it really is the result of the negligence of a tenant- that I have access to the liability on the renters policy. For the general liability insurance coverage and policies required to be held by Tenant pursuant to this Section 9(b) Tenant shall name Landlord as an additional insured party, if permitted by the insurance carrier at commercially reasonable rates. City v. Additional Insured is generally a liability term that means that your liability insurance will also defend and indemnify the landlord in case they're sued for something that happens … But putting that aside for a moment, let’s take a look at some of the impacts of no longer being able to use a lease that requires additional insured on a tenant’s insurance policy. Insurance coverage and additional insured status issues The lease required both Landlord and Tenant to obtain commercial liability insurance. How to add your Property Manager as an Additional Insured. You’re absolutely right that the policy is for your property or if someone hurts themselves. Commercial Tenant Insurance Requirements If you are renting a commercial building for business use, chances are that your landlord is going to require you to get an insurance policy before allowing you to sign the lease. As an additional insured, the landlord is not given the same full coverage as the tenant. They will NOT receive money for your personal property. There are some basic questions that property owners and landlords ask us in the course of doing business. Our rental insurance company (Travelers), when contacted, outright refused to add the landlord as an additional insured, which gave us a good bargaining position, and was also a sure sign that adding your landlord as an additional insured is kinda shady. Landlord as Additional Insured. There is a lot of ambiguity in the term "additional insured". As an Additional Insured, you can file the claim under Tenant #1 Renters insurance since they were the responsible for the claim. In general, their rights and responsibilities will be severely limited compared to a Named Insured. By being additional insured, the landlord is given protection similar to if he were a named insured on your renters policy. 3. That can't happen if the landlord is listed as an additional insured. Additional interest is what they should be, not an additional insured. An additional insured is an entity who is not the policyholder, but is entitled to some of the benefits of the policy because of a direct business relationship to the named insured. In other terms, Lienholders typically want to be put on an auto insurance in the same manner, to signify a financial interest. The tenant’s general liability insurance policy should include an additional insured endorsement for the landlord as well as citing them on the declarations page as a loss payee. The landlord, though an additional insured on its tenant’s policy, has coverage only if the claim is caused by its tenant’s acts or omissions. I read some previous posts here about the same issue and it seems that there are some mixed opinions on this, but the prevailing opinion is that it is a bad idea. Interested party means they are notified of policy termination or if there is a loss. 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