Insurance contracts typically contain a definition of the “insured” under the policy. The contract must indicate the person or persons for whom the protection is provided. Several possibilities exist concerning the persons who are insured under the policy. First, some policies insure only one person.
For example, in most life insurance contracts, only one person is specifically named as insured under the policy. Second, the policy may contain a formal definition of the named insured. The named insured is the person or persons named in the declarations section of the policy.
For example, in a homeowner’s policy, the named insured includes the person named in the declarations page and his or her spouse if a resident of the same household. Thus, Nicole may be the named insured under a homeowner’s policy.