What does the term "insured" refer to in the context of property insurance?

In the context of property insurance, the term "insured" specifically refers to the person whose property is covered by the insurance policy. This individual or entity has taken out the insurance contract to protect their property from potential losses or damages. The insured person is typically the one who pays the premiums to maintain coverage and, importantly, has the right to file a claim with the insurance company in case of loss or damage to the insured property.

The insured is the central figure in this context, as their property is the subject of the insurance coverage, and they benefit from the policy's protections. Understanding this term is crucial, as it distinguishes the insured from other parties involved in the insurance process, such as claimants (who may or may not be the insured) and adjusters (who assess claims).