When you’re searching for a new policy for your small business, it can be difficult to wrap your head around all the insurance jargon and terminology. One common area of confusion arises from the terms “additional insured” vs. “loss payee.” At first glance, it can seem these two are the same because you can add both entities to your business insurance and grant them the right to benefits. However, beyond this broad similarity, they’re actually quite different. Let’s discuss the difference between additional insured vs. loss payee and their accompanying rights. [Read more…]