What it does
CG 20 27 adds the scheduled person or organization as an additional insured, but only for their liability as co-owner of the premises shown in the schedule.
Who needs it
Jointly owned commercial and rental property, such as buildings owned by business partners or family members where only one owner is the named insured.
Key provisions and limits
- Schedule shows the co-owner and the location.
- Coverage applies only to the extent permitted by law.
- Contract-based limits: coverage is no broader than any contract requires, the most paid for the additional insured is the lesser of the contract-required amount or the policy limits, and the endorsement does not increase limits.
Quoting and selling notes
- Adding all owners as named insureds is often cleaner; use this form when the co-owner should only be covered for the shared property.
