The lessee is the one that holds personal or real property under a lease. An example of such is a tenant of a rented dwelling.

You could also be the lessee if you have a leased vehicle. The lessor still owns the vehicle and both your names will be shown on the liability (pink) card.

You do not have the same choices when you do not fully own the property you insure. You must follow the guidelines laid down in your lease.

It is important that you tell your agent or broker about a lease on your property or vehicle. The policy needs to be written a certain way to provide the right insurance coverage. Ask for help in choosing the best option for your circumstance. Control your insurance.