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Updated almost 2 years ago on . Most recent reply

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Sigmund VanDamme
  • Investor
  • Pittsford NY
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Additional insured the same as additional interest?

Sigmund VanDamme
  • Investor
  • Pittsford NY
Posted

My new tenant told me that Progressive stated that they cannot add my LLC as an additional insured; however, they can add me as an additional interest.


Is this the same thing?

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Sigmund VanDamme:

My new tenant told me that Progressive stated that they cannot add my LLC as an additional insured; however, they can add me as an additional interest.


Is this the same thing?


 Taimo is correct. 

Additional Insured means you are protected under the policy. If a guest falls down the stairs and breaks their back, you'll be covered under the Tenant's policy.

Additional Interest means you will be notified if the policy lapses or is canceled, but you are not afforded any protection. It's a method of monitoring to verify they maintain insurance.

  • Nathan Gesner
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