The insured is a person whose life or property is covered by an insurance policy.
"Insured" and "insurer" often get confused with one another. Let's clear it up once and for all! The insurer, or the insurance company, is the one who provides the coverage - compensating losses should they occur. The insured is the person who is compensated under the insurance policy.
In the case of pet insurance, the insured is the pet owner because he or she is the one who will make claims and receive compensation.