An insured is the name by which those natural or legal persons who act as holders of insurance contracts or policies are called. Through this protection they do not worry about possible damages against their property or even their integrity in exchange for a fee or premium to an insurance company.


In this way, the insured is the person who will receive the compensation or indemnity in the cases that his insurance contract collects, as he is the owner of the damaged or lost item. In the case of life insurance, a third person designated by the insured will be responsible for collecting said amount of money.

Characteristics of the insured

As these types of contracts usually stipulate, the insured person is the one who normally bears the risk of the policy and who is in charge of fulfilling the obligations relating to the contracting of the insurance in particular.

In this sense, there are times when the person who takes out the insurance (who is also called the policyholder) is a different person from the insured himself. For example, if a father contracts a car insurance for his son, the first will be the policyholder and the second the insured as he bears the risk in the event of an accident or damage to the car.

There are cases in which it is strictly necessary for the insured to be a natural person, such as in those insurances that cover personal risks; that is, accident or life insurance. In the rest of the modalities, primarily related to liability or equity contracts, it is possible that the insured has the legal formula of a legal entity.

Obligations of the insured

In exchange for the obvious protection that owning an insurance policy provides, the insured person assumes the obligation to periodically pay the installments or premiums that the insurance company requires, attending to an examination or risk calculation prior to contracting the insurance.

Alternatively, the insured must also comply with other series of requirements, such as communicating to the company if there is a loss or damage to the protected element, the damages suffered by it and any other type of related circumstance. An example of the latter are accident reports, documents that explain the damage suffered by a vehicle in the event of an accident.