Insured - Any person or company -21+ Useful Insurance Terms

Insured - Any person or company, the insurance (protection), it protects against loss of or damage to property or for a liability policy, let his defense against a claim by a third party.

Insured - Any person, firm or company expressly (s) designated by name as insured in a political rather than others which, although unnamed, protected under certain circumstances. For example, a common application of this principle of liability policy car where a definition of "insured" coverage also extends to other drivers in the car with the consent of the insured. Other parties may also be protected by insurance, the name of "additional insured" policy or approval.

Additional Insured - A natural or legal person not automatically included as insured under the policy of the other, but for which they said insured policy provides some protection. A note is usually required to perform other insured status. The pulse called insured provide additional insured status to others may wish the other party (eg, insured employees or members of a shooting club) on the basis of a close relationship with this party or with a contractual agreement requires the insured person designated to do so (eg customer or owners of property leased by the named insured to comply).

INSURANCE - The exchange of an insurance or risk between two or more insurance companies. This usually means that each insurer pays the insured directly share the losses. Co-insurance is also the agreement by the insured in consideration of a reduced rate, agrees to an amount of insurance equal to a percentage of the total value of insured property to carry. An example is if you have insurance, by 80% or 90% of the value of your property and / or content, whatever the case. Otherwise, the company pays claims only in accordance with the carrying amount of coverage to them.

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