In the homeowners policy terms, what does 'you', 'your', and 'insured' refer to?

In the homeowners policy terms, what does 'you', 'your', and 'insured' refer to?

• A. The insurance company
• B. Named insured and household residents
• C. A mortgage lender
• D. Any person covered by the policy

Answer: (B)

In a homeowners policy, you and your refer to the person or people named in the declarations who own the policy, plus the spouse if they live in the same home. Insured is the same group: the named insured and members of the household who reside there. This means the coverage applies to the homeowner and family members living in the dwelling, not to a mortgage lender or a random visitor. If someone else is added to the policy by endorsement, they could become insured, but by default the insured consists of the named insured and household residents.

In a homeowners policy, you and your refer to the person or people named in the declarations who own the policy, plus the spouse if they live in the same home. Insured is the same group: the named insured and members of the household who reside there. This means the coverage applies to the homeowner and family members living in the dwelling, not to a mortgage lender or a random visitor. If someone else is added to the policy by endorsement, they could become insured, but by default the insured consists of the named insured and household residents.