Legal Definitions - insurant

An insurant is the individual or entity who purchases an insurance policy or to whom an insurance policy is issued. This term refers to the policyholder—the party whose risks are covered by the insurance agreement. While the term "insured" is more commonly used, "insurant" carries the same meaning, identifying the person or organization that holds the policy and is responsible for its terms.

Here are some examples to illustrate this concept:

• Example 1: Homeowner's Insurance
  Maria recently bought her first house and secured a homeowner's insurance policy to protect against potential damages like fire or theft. In this scenario, Maria is the insurant because she is the person who obtained the policy and to whom the insurance company issued the coverage for her property.

• Example 2: Business Liability Insurance
  "Tech Solutions LLC," a software development company, purchases a general liability insurance policy to cover potential claims of negligence or property damage arising from its operations. Tech Solutions LLC is the insurant here because the company is the legal entity that applied for and was issued the insurance policy, making it the policyholder responsible for the premiums and the beneficiary of the coverage.

• Example 3: Travel Insurance
  Before embarking on an international trip, John buys a travel insurance policy to cover medical emergencies, trip cancellations, and lost luggage. John is the insurant because he is the individual who procured the policy directly from the insurance provider, making him the primary holder of the travel coverage.