INSURANT Meaning and
Definition
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Insurant is a term used to describe an individual or entity that is covered by an insurance policy. It refers to the person or party who has entered into a contractual agreement with an insurance company or provider to receive financial compensation or protection against specified risks, damages, or losses.
An insurant is typically the policyholder who pays premiums to the insurance company in exchange for the coverage provided by the policy. The insurant may be an individual, such as a person insuring their car, house, or life, or it may be a business insuring its assets, employees, or liabilities.
The insurant plays a crucial role in the insurance process as they are responsible for selecting the type and level of coverage they require based on their individual circumstances and needs. They are also required to provide accurate information to the insurer during the application and underwriting process. This information helps the insurer assess the risk profile and determine the premium amount to be charged.
In the event of a covered loss or claim, the insurant has the right to file a claim with the insurer and seek compensation for the damages or losses stated in the policy. The insurer is then obligated to fulfill its contractual obligations by providing the agreed-upon benefits or indemnity to the insurant, subject to the terms and conditions of the policy.
Overall, an insurant is an individual or entity that holds an insurance policy and is protected against specified risks or losses in exchange for paying premiums.
Common Misspellings for INSURANT
- unsurant
- jnsurant
- knsurant
- onsurant
- 9nsurant
- 8nsurant
- ibsurant
- imsurant
- ijsurant
- ihsurant
- inaurant
- inzurant
- inxurant
- indurant
- ineurant
- inwurant
- insyrant
- inshrant
- insjrant
- in surant
Idioms with the word INSURANT
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