For many of our clients, placing a home in the name of a Trust is an important part of their estate plan. However, one key detail that is often overlooked is ensuring that the Trust is properly reflected on the homeowner’s insurance policy.
If your home is owned by your Trust, we encourage you to check with your property & casualty (P&C) insurance agent to confirm that your policy is structured correctly. Some insurance companies may require that the Trust be listed as an additional insured or additional interest to ensure continuous coverage.
Why does this matter? If a home is titled in the name of a Trust but the insurance policy only lists the individual, there could be complications in the event of a claim. Making sure your policy aligns with how your home is legally owned can help prevent potential coverage gaps and ensure a smooth claims process if the need arises.
If you’re unsure whether your policy is set up correctly, we recommend reaching out to your P&C agent for guidance. And if you’re looking for a new agent, we’d be happy to provide referrals to professionals we know and trust.
As always, if you have any questions about how your estate plan and financial strategy work together, we’re here to help.
Warm regards,
The Wealth Advisors at Solis Wealth Management