Cover two parties under one policy with joint names insurance

Find out about an insurance policy which will see two or perhaps more parties covered under one policy. This is typically taken out when an employer and contractor situation occurs – a joint names policy means that you can claim insurance regardless of fault.

It is sometimes beneficial for two parties to be insured under one policy together, with an employer and a contractor commonly joined under one policy when they enter into a contract to have construction work done on a property.

There are a few advantages that this type of policy has over regular insurance policies. For example. both parties involved can avoid any difficult situations where fault has to be found, and this can save time and money putting the situation right. Each party under the insurance policy will be under the same rules as usual and they both carry the legal rights to claim against the insurer if something goes wrong. The insurer does not carry the right however for subrogation against the other party.

This type of insurance policy is typically known as joint names insurance and, as well as the employer and contractor being covered under this policy, other parties such as funders can be added to the policy. This way, if any unforeseen damages occur or if any other situation occurs then all of the parties involved can claim, regardless of fault, and this will make the whole process a lot simpler and save any discrepancies from happening also. If this sounds like a policy that you think would be worthwhile for any time you are having work done or might be employing a contractor then be sure to contact an insurance company who can offer this.