Trusts and LLCs

If you have your house in a trust or LLC for whatever purpose, please do yourself a favor and check your insurance policy.  Make sure the trust or LLC is  a named insured, or at the very least an additional named insured!  If it is not – your insurance policy is not set up properly and you can have a potential problem if there is a property or liability loss.

It makes sense…the trust or LLC owns the house – but is not listed on the policy??  I know you see the problem now.

Many middle market carriers and brokers don’t ask this question as they don’t understand it, or can’t help a client with an insurance policy if the answer is yes.  Their insurers won’t write the policy.

If you need help with this, please reach out.  I ask the question, and all my carriers have the ability to write Trusts and LLCs (as long as they are not for commercial purposes!).

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