noun
named insured
In plain English
The person or entity actually buying the policy and named on the dec page.
The named insured has all the rights to the policy — receives notices, can make changes, gets paid on claims. Additional insureds have coverage by extension; named insureds are the actual parties.
What it covers
Full coverage as written on the policy, including the right to receive premium notices, request changes, file claims, and collect payment.
What it does not cover
Family members of a personal named insured (spouse, children) often have automatic coverage as 'insureds' but are not always 'named insureds' — distinction matters at divorce.
Where it trips people up
Multi-entity businesses sometimes have one entity named on the policy and operations running through another. The entity not named has no coverage. Always name every entity that operates.
The technical version
The person or entity designated by name in the declarations of an insurance policy as the principal party to whom coverage is afforded.