We occasionally receive inquiries from members regarding the differences between additional. insureds and additional named insureds under liability insurance policies. This document is. intended to address some of the major differences. Additional Insureds. Generally, additional insured status is required by an individual or entity when a named insured. has agreed to indemnify that party in a contract (e.g., customers or owners of property leased by. the named insured).
Effective Date. The start date of an insurance policy, or the date on which the protection of an insurance policy or bond goes into effect. Find the best companies and lowest rates. Please wait while we find the best Insurance options for you.
The Option Period starts the first day following the effective date of the contract. The effective date is considered day 0 of the contract...the first day of the Option Period is considered day 1. So if your 10 day Option Period started on April 19, this means the effective date of your contract is April 18.