The importance of having the first named insured listed correctly on any insurance policy is because of the rights and responsibilities associated with first named insured status.
The first named insured has the right to be notified upon cancellation and also is entitled to any refunded premium dollars.
Additionally, the first named insured is responsible for any premium obligations in the event there is money owed to an insurance company after cancellation.
These are just a few examples of the rights and responsibilities associated with first named insured status.
It is crucial that the first named insured be listed properly on all insurance policies.
Watch this video “What is the importance of being the first named insured on an insurance policy?” for more details:
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This is video #11 of a one hundred insurance video series that The Murray Group is producing to provide insurance consumers with quick, valuable answers to their everyday insurance questions.
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created by Ryan Hanley