Who Is An Insured?

An insured is a person or entity that is covered by the insurance policy. He/she is the one who is entitled to receive benefits from an insurer after experiencing a loss or damage of his or her properties. 

Definitions of insured:

Insured is:

• A person who is entitled to receive benefits of an insurance policy.
• A client of an insurance.
• A person or an entity that reimbursed by the insurer once experience financial loss.
• A beneficiary of an insurance policy.

An insured can be a policyholder or an additional insured. A policyholder (also known as named insured or contract holder) is a person whose insurance policy is registered by his or her name. He/she is the owner of the policy and can make some changes in a policy or cancel it. An additional insured is any person or entity that is covered by insurance other than a policyholder.

Difference between insured and insurer

An insured is a person or entity that is covered by insurance and receives benefits or sum assured from an insurer when experiences financial loss. While an insurer is a company that promises to compensate insured's financial loss.