Why Does Your Landlord Want to Be an Additional Insured? 🏢
Commercial leases often require tenants to add the landlord as an Additional Insured. But why?
Depending on the policy and endorsement, adding your landlord as an Additional Insured may provide them with certain liability protection in connection with your business operations on the premises.
However, many business owners make a critical mistake here:
Certificate Holder ≠ Additional Insured
Simply listing a landlord's name in the Certificate Holder box on a COI does not grant them protection. Additional Insured status generally needs to be supported by the applicable policy terms and endorsement.
Key Takeaway: Don't assume a name appearing on the COI means the Additional Insured requirement has been satisfied. Always verify with your insurance agent!
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