Loss payee
A person or lender listed to be paid for a property or auto physical-damage loss, often a bank or equipment lessor.
What it means
Loss payable provisions (CP 12 18, CA lessor endorsements) are not additional-insured status. They decide who receives a property check.
Why it shows up
Vehicle leases and equipment finance contracts require loss payee wording on the certificate.
What to look for
- Loss payee schedule
- CA 20 01 for leased autos
- Lender’s name matching the contract
Coverbird reads the declarations and form schedule on the PDF you already have. It does not sell insurance or say whether a limit is enough.
Upload a policy to find this on yoursForms that implement this
Related terms
- Additional insured
Someone added to your liability policy by endorsement, usually because a contract asked for it.
- Certificate of insurance
A snapshot someone else asked for. It is not the policy and does not change the policy.