Living Trust owns the house

[agrmic]

What is the name of your state (only U.S. law)? Arizona

I'm shopping for homeowners' insurance. I accepted a policy this morning. When I received a copy, it had my wife and I as the insured. I called back explaining that the trust owned the home. After some research he told me that the company wouldn't insure the home with a trust. He guided me to another company. They would insure my property for $200 more. I asked what would happen if I didn't include the trust on the policy. He said the insurance company could deny any claim as I am not legally the owner of the property.

Is this true? Also, is there some liability or legal reason why the first company wouldn't insure a trust owned property.

 

[ecmst12]

You need to have the appropriate insurance for the home that you have and the way the deed is written. It may just not be in the first company's business model to insure a home not owned directly by the residents. There is surely more than one company offering insurance for trust-owned homes, so keep shopping if you don't like the first price you were offered.

 

[moburkes]

The response is correct. The claim would be denied. Not worth it.