named insured vs policy holder

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jan 16, 2012

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Insurance Question from Bon Air, VA

Asked on 01/16/2012

named insured vs policy holder with nationwide insurance, is the named insured the same as the policy holder, if the named insured has the premiums drafted from his account and his a name and address is on the account statement. this is in Virginia.

Answer given on January 16, 2012

On most any insurance policy, the named insured does not have to be the person paying the premium. The policy holder should be the owner of the vehicle. In other words, the car should be registered to them. Anyone can have the premiums drafted from their account – a parent, spouse, sibling or friend. Just because someone is paying the premiums, it does not entitle them to be on the insurance policy, and does not automatically make them an insured.If you are paying the premiums, do not consider yourself as an insured. If you want to be named on the policy, you should talk to your agent or insurance company. Again, you will need to have an insurable interest in the vehicle, such as co-owner or spouse.If you are the named insured, and not paying the premiums, it does not affect your insurance or coverage. You will stil be protected in the event of a covered loss.


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