A lender is going to know you are in default as soon as
you change the named insured on your policy.
They first demanded that my insurance carrier
change the named insured back into my name.
Not exact matches
They can make sure that debts are continued or judgements continued and can
insure that there is no other legal reason to not have the
name changed.
Has the authority to
name or
change the beneficiary — the person who gets the money when the
insured dies
The
insured party usually has the option of
changing named beneficiaries.
It also can be problematic when you
change roommates, because a
named insured can not be removed from the policy.
The Individual
Named Insured endorsement makes one important
change under your commercial auto policy with regard to physical damage coverage.
Additionally, the guaranteed insurability rider does exactly what the
name suggests and allows the
insured to acquire more coverage down the road regardless of circumstance or any particular
change in lifestyle, such as dangerous hobbies.
Secondary
Named Insured can authorize policy
changes and verify claim details, and are listed on claim checks.