HAYES INSURANCE AGENCY

This is an endorsement which names others as an insured to your policy. It is a requirement by almost all carriers that if you hire a Sub-Contractor – you must have your Company named as “Additional Insured” on their policy. Failure to comply with this requirement can get you Cancelled or could affect any claim should one arise.
A few more examples of additional insured requests are:


*If you are a contractor and plan to do work for a homeowner, they may ask to be named as additional insured to your insurance policy. This is the homeowners way of protecting themselves from any liability arisng out of your work on their property.

*If you rent an office for your business, the property owner may require that you name him/her to your insurance policy as additional insured. This is the property owners way of protecting him/herself against claims that may arise from your business operations in the rented office space.

*If you plan to rent a private or public facility to hold an event, the private owner or public entity, may require additional insured status before the facility can be used.

In most cases (but not all), there is an additional premium charged by the insurance carrier for this endorsement. Your insurance broker/agent does not have control over the amount charged. Some insurance carriers offer "Blanket" additional insured. This option could prove to be less costly in the long run, if you require many additional insured endorsement throughout the policy year.