Additional Insured or Additional Interest Law and Legal Definition

Additional insured or additional interest refers to a person or an organization, other than the insured who is named or the covered person, who is protected under the named insured's auto policy. If an automobile is leased, the leasing company may want to be listed as an Additional Insured and also as a lien holder or loss payee. This protects the leasing company if it is named in a lawsuit for an accident caused by a policyholder.