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How To Get Home Owner’s Insurance When The Deed Is In The Name Of A Company
Joe: Hey, it’s Joe. Got another one here. This one’s from Don Becker from Pensacola, Florida. Don asks, “If I buy a property in any of the manners in which you teach and then put the deed in the name of a company, how can I get homeowner’s insurance coverage in that name? I’m finding this to be near impossible in Florida as all insurance brokers that I have talked to can only write it with me as the insured in the company name which is the actual titleholder of the property as the additional insured.”
Joe: Well, it doesn’t really matter if, you know, if your name’s on that property as long as you’re on the deed, the insurance company will be able to do it. Now, they’re going to do a landlord policy, not a homeowner’s policy, so it’s a different kind of policy. You’ll also want to get a little bit of liability insurance. I always get $1M of liability insurance on my properties on top of my regular landlord insurance. Landlord insurance is typically cheaper than a homeowner’s policy. So, keep that in mind as well.
Joe: So talk to your insurance company. It doesn’t matter if your name’s on there as additionally insured. Somebody’s got to sign on that thing, so I don’t think that that’s a big issue and I’m not sure why that would be a problem for you.
Joe: All right. I hope that helps.