Insured

In the vast majority of cases, the “insured” refers to the person who is responsible for paying the premiums on the insurance policy. However, the exceptions to this general definition are numerous. 

Take, for example, a car insurance policy that covers a household vehicle as an illustration. In that context, “insured” could refer to any of the following:

• Anyone whose name is listed as owning the car
• Anyone driving the car with the owner’s permission
• Children who live in the same household and drive the car with permission
• Children who live in the same household and who are passengers in a car during a crash
• Any other family members covered under the policy

As a result of these additional people who might be eligible to get coverage, the “true” definition of an insured is anyone who is covered by the policy. This definition applies regardless of whether or not the person has applied for coverage.

According to some definitions, the term “victim” can refer to anyone who is eligible to receive compensation for a loss. However, this definition is not entirely clear because the person who is insured does not necessarily receive money in the event of a loss. Instead, in the event that the insured person is found to be at fault, they will not receive any money directly; rather, the victim will be compensated for their losses.

However, the insured party is responsible for fulfilling their obligation to make a financial payment to a victim. That indicates that the money is actually being transferred from the insured party to the victim, which also indicates that the insured party is receiving a benefit, which they are subsequently passing on to the individual who actually sustained the losses. In reality, the money is typically transferred directly from the insurance company to the victim; however, the insured receives the benefit of not having to pay for those costs themselves.

In the vast majority of instances involving personal injuries in Georgia, the person who is required to pay benefits to another party is the insured. This responsibility will be met by the insured party’s available insurance coverage. There are circumstances, however, in which the “insured” party is the individual who is receiving payment from their insurance company. This is especially the case if you are covered by first party insurance, such as collision coverage or medical payment coverage.

It can be challenging to figure out who is covered by an insurance policy, but in most situations, involving the insurance company is the most effective way to ensure that you will be compensated for any accidents that you are the victim of, whether it be a car accident or a slip and fall claim.