Insured
What is it? An insured is a person (or an institution) covered by an insurance policy. If you are filling out these forms for yourself, you would be the named insured on the policy. In an auto policy, other insureds would be family members who live with you. Additional named insureds on the policy might include institutions from which youve borrowed money to buy the car or the house that you are insuring. (Your house is collateral for your mortgage. Your banker would be very upset if it burned down. Thats why you cant get a mortgage on a house that isnt insured against fire.)Added By: Taylor
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