Additional Insured vs. Additional Interest | What’s the Difference and Why It Matters скачать в хорошем качестве

Additional Insured vs. Additional Interest | What’s the Difference and Why It Matters

When it comes to insurance policies, “additional insured” and “additional interest” are terms that often get mixed up — but they mean very different things. Understanding the difference is key to making sure your policy protects everyone it’s supposed to. In this video, Tammy Brown breaks it all down: 📌 What Is an Additional Interest? An additional interest is typically a lender or finance company with a financial stake in your property or equipment. 🏠 Example: A mortgage company listed on your homeowner’s policy ensures their interest is protected if there’s a fire — either by paying off the mortgage or rebuilding. 🏢 Example: A finance company for a $10,000 copier listed as an additional interest ensures they’re covered if the equipment is damaged. 📑 What About an Additional Insured? An additional insured is someone added to your policy for liability protection — often a client, landlord, or partner who wants coverage if they’re named in a lawsuit connected to your work. ✅ Why It Matters: Using the wrong designation can leave you, your partners, or your lenders unprotected. That’s why it’s important to review your policy and make sure the correct names are listed under the right category. 👉 Need help reviewing your policy and ensuring proper coverage? Let’s have a conversation and make sure you’re protected the right way. 📌 Connect with Tammy: 🔗 LinkedIn:   / tammybrownagency   🌐 Website: www.tammybrownagency.com #InsuranceTips #AdditionalInsured #AdditionalInterest #BusinessInsurance #InsuranceAgent #InsuranceAdvice #LiabilityCoverage