The owners of the facilities where I work have asked that they be named as Additional Insureds on my policy. What is an Additional Insured, and how much does it cost to add one?
An Additional Insured is a person who has a connection to your equestrian activities and therefore wants coverage under your policy in the event they are sued due to your actions. An example would be an owner of a facility where you are an independent instructor. If you are giving a lesson and a student or bystander is injured, they most likely will also name the owner of the facility in the lawsuit as well yourself. By having the facility owners named on your policy, the policy will also provide them with a defense and pay claims up to the policy limits. The cost of naming an Additional Insured to your policy varies with the policy limits. For a policy with a $1 million occurrence limit, the charge is $20 per Additional Insured.
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