Confusingly, insurance policies will specifically name additional insureds, too. However, an additional insured doesn’t usually receive the policy’s full coverage, nor can they change or cancel the policy.
Additional insureds are usually part-owners of an insured property. For example, a mortgage lender usually requires the homeowner to add them as an additional insured to the home insurance policy. The mortgage lender has invested in the home, after all. They can’t make any changes to the policy, but they’ll get their share of the settlement if the house were destroyed entirely. They’ll also receive a notification if the named insured or the insurance company cancels the policy.