An Additional Insured is a person or organization, included by endorsement, as an insured under the General Liability policy at the request of the policy holder. Adding an Additional Insured to your policy means that you extend coverage and SHARE the limits of your policy with this person or organization.
In order to add an Additional Insured, there must be an insurable interest related to the activities of your organization. For example – the property owner where your event is being held. There is no charge for an Additional Insured.
A Certificate Holder is merely the name of the person or organization whom you are providing your proof of insurance. The Certificate Holder will be reflected on your Certificate of Insurance, however, no coverage is extended to the Certificate Holder. There is no charge for a Certificate Holder.
A loss payee is a person or organization, included by endorsement, as a beneficiary under your Inland Marine- Property policy concerning property not owned by the policy holder. For example, a leased copier. In the event of a covered loss, we would reimburse the loss payee for the copier up to the policy limits. There is no charge to add a Loss Payee.