Insured And Insurer

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Who is the insurer and insured?
There’s tons of confusion around the difference between the ‘insurer’ and the ‘insured,’ so we’re here to clear things up. As mentioned earlier, the ‘insurer’ is the one calculating risks, providing insurance policies, and paying out claims. The ‘insured,’ on the other hand, is the person (or people) covered under the insurance policy.

So if you got a home insurance plan through Lemonade, Lemonade would be your insurer, and you would be the insured!
Insurer
An “insurer” refers to the company providing you with financial coverage in the case of unexpected, bad events covered on your renters or homeowners policy.

What do insurers do?
TL;DR – insurers are there to create insurance quotes, sell policies, handle claims filed by policyholders, and provide coverage in the form of financial compensation if need be.

Now, let’s break it down!