Additional Interest Insurance
Regarding car insurance, both additional insured and additional interest has the same meaning. It is either an organization or a person who are under the protection of the terms of policy. For instance, if an organization or a person leased the car of an individual company, the car company will surely want to be listed in the Additional Insured or Additional interest for the sureness that if the vehicle engage an accident, then the car company will be under the protection of the terms of policy. Concerning ownership, additional insured and additional interest differs from each other. An additional benefit is an organization or a person who only wants a particular property to be insured. But, the organization or a person doesn’t have the authority to own a specific feature then they will not be included in the list of Additional Insured. For instance, two women owned a salon, woman #1 listed the salon to her insurance policy but she didn’t add to the list of Additional insured her co-owner. There comes the time when an individual customer gets injured, and both owners complained. However, the one that is listed in the additional insured is the only one that is protected but her co-owner, woman #2 doesn’t have the protection because she was not included on the list of Additional Insured. So, she will be the only one who will be complained about by the customer that will lead to the loss of her properties.