An insured is the individual or business covered under an insurance policy. If you’re the insured, you’re eligible to receive financial benefits after filing a claim with an insurance company.
No. An insured is someone the insurance policy protects.
The policyholder is the individual or business entity that bought and owns the policy and has the right to modify it.
A policyholder will often be an insured, but an insured is not necessarily a policyholder.
Definitely. In fact, businesses almost always have more than one. Common insureds for many types of small business insurance include:
In most cases, insureds must be engaged in company business at the time of the loss to receive financial benefits under the policy.
An insured is the person or entity that an insurance policy protects.
An insurer is an insurance company or other business organization that evaluates business risks and issues insurance coverage.
No. An insured is someone protected under an insurance contract.
A named insured is just another term for the policyholder — the person or entity who owns and can modify the policy.
For example, if you buy commercial auto insurance for your business, you’re the named insured/policyholder because you bought the policy. You and your employees are all insureds because you’re all eligible to receive benefits under the coverage.
An additional insured is someone the policyholder adds later to receive benefits under the coverage.
NEXT’s licensed insurance agents can help you assess your risks and cover them with the right small business insurance.
We make small business insurance easy and fast. Get a quote and buy online in about 10 minutes. Download free proof of insurance 24/7 to help get you back to business.
Business insurance is divided into different policies. We offer seven types so it's easy to design the coverage that fits your business.