Each insurance company has their own terms they use when they rate a person for a policy or how they list a person on a policy. Each state has different requirements for residents of a household and how they are listed, rated, excluded, or excluded with surcharge on a policy.

Some states require that all residents be listed on a policy, but in some situations you may want to exclude coverage for a resident (due to that person having other insurance, never been licensed, etc).

Typically each person on a policy can be broken down as:

• Covered and rated on a policy.
• Excluded (not surcharged) and listed as a resident but not as a covered driver on the policy.
• Excluded (surcharged) and noted but not listed as a driver on the policy and therefore excluded.
• Not covered, rated as a driver, but excluded on a policy (not many companies will do this but a few have scenarios where it is necessary).

It could appear that "list only" would be the third option above while unrated could be the last one. But you will need to contact the insurance company that you saw using these terms to find out their exact intended meaning.

Since insurance providers have their own different definitions for drivers' statuses, consult with the insurance company you know that is using this specific car insurance terminology or read through the terms of their policy to see what their intended definition is for "list only" and "unrated" drivers.