"Additional Insured" simply means that the homeowner's insurance coverage is extended to the listed agent or property management company.
It's important to distinguish between "Additional Insured" and "Additional Interest" as your insurance agent may confuse the two. “Additional Interest” does not extend coverage but will simply notify a property manager of policy renewals, changes, or cancellations. Onerent requires that you add us as an "Additional Insured"
A common misconception is that the Additional Insured verbiage will provide the property management firm with a financial interest in the property. Unlike a mortgage holder, a property management company does not have, or want, a financial interest in a property but nevertheless has a very insurable interest from a premises liability standpoint such as personal injury on the premises.