Who is considered the named insured on a personal lines policy?

The named insured in a personal lines policy refers to the individual or entity specifically named in the insurance documents who is granted coverage under the terms of the policy. This person is typically the policyholder and has the primary rights and responsibilities associated with the policy. For instance, the named insured is the one who will receive benefits in the event of a claim, is responsible for paying premiums, and can make decisions regarding the policy, such as changing its terms or adding additional coverage.

In contrast, an insurance agent is merely a representative who helps manage the policy but does not hold any coverage rights or responsibilities. The insurance company, while it issues the policy and assesses the risks involved, is not considered the insured party. Additional insured parties, while they may also receive certain coverage under the policy, do not hold the same status and rights as the named insured. They are typically included to extend coverage in specific situations but do not have ownership or control over the policy like the named insured does.