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Shane-CPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 265
Experience:  Shane Northrop is a Certified Public Accountant, Personal Financial Specialist and a Chartered Global Management Accountant
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Whos name should be on the home owners insurance for a house

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Who's name should be on the home owners insurance for a house that is in a trust and has a life estate

Shane-CPA : name is XXXXX XXXXX I am a Certified Public Accountant. I look forward to assisting you with your question.

Shane-CPA :

The best option under this circumstance is to write the policy in the name of the individuals and list the trust as an additional insured. In this case, the individuals still get the broad liability coverage everyone needs. Also, the liability provided for the trust is limited to the premises covered by the policy.

Shane-CPA :

The home owners insurance company should also be familiar with the best way of insuring properties held in the name of a trust since this has become a common occurrence over the last 10 years.

Shane-CPA :

I hope this helps to answer your question. If I can provide you with any additional assistance, please let me know. If this answers your question to your complete satisfaction, then I thank you for allowing me to assist you and I look forward to helping you again in the near future! Thank you for using Just Answer and I hope you have a great night!


This house is a rental property for me


does the bank need to have that info as well

Shane-CPA and 2 other Tax Specialists are ready to help you
Hi...since the house will be a rental property, you will want to request for your agent to work with the underwriter to specifically write into the policy that the insured is covered for rental property and not specifically as a residence. The bank will generally require a copy of the policy since it is illegal in most states not to carry home owners insurance. In addition, since the bank has a mortgage secured by the collateral of the home, they will want to ensure that their collateral is protected.

I hope this provides you with some additional clarity. If I can be of further assistance, please let me know. Thank you again!