The-definition.com

Definition

Additional Insured or Additional Interest

Additional Insured or Additional Interest is a person or entity (such as a leasing company), other than the named insured, who is protected under the auto policy. If an auto is leased, the leasing company may want to be listed as an Additional Insured as well as a lien holder or loss payee. This protects the leasing company if it's named in a lawsuit for an accident caused by a policyholder.

Share it:  Cite

More from this Section

  • Height
    Height is the distance between the tallest part of a vehicle and level ground. ...
  • Seating capacity
    Seating capacity is the number of people that can be safely seated and restrained in a ...
  • Headsets
    Headsets is a pair of small speakers that, when placed close to a passengers ears, enables ...
  • Title
    Title sometimes referred to as the "pink slip." The legal document issued by the state ...
  • Engine thermostat
    Engine thermostat is a device that senses the temperature of the engine coolant for the ...