What it does
BP 04 02 adds the person or organization shown in the Schedule as an insured, but only for liability arising out of the ownership, maintenance or use of the part of the premises leased to the named insured and designated in the Schedule.
Key provisions (01 06 text)
- No coverage for any occurrence after the named insured stops being a tenant at the scheduled premises.
- No coverage for structural alterations, new construction or demolition operations performed by or for the additional insured.
Who needs it
Commercial tenants: retail stores, restaurants, offices, salons and medical practices whose leases require the landlord and its manager to be additional insureds.
Quoting and selling notes
- Match the names exactly to the lease (owner entity and management company) and describe the leased premises.
- If the lease also requires primary and noncontributory wording or a waiver of subrogation, add BP 14 88 and BP 04 97.
- For landlords who are not "managers or lessors" in the usual sense, BP 04 48 is the general designated-person form.
