Property insurance for a land trust
Does anyone have insight on a situation where a rental property is in a land trust, one of the beneficiaries lives in one of the units, the other beneficiaries live elsewhere, you need or want homeowners Insurance to cover both the land trust and all beneficiaries?
I've been told by an insurance company agent that you can name the beneficiary that lives in the one unit as owning the policy and then additionally insure the other beneficiaries but they won't insure the land trust itself where the beneficiaries are named. Are there any insurance companies that would insure the land trust?
Any advice would be greatly appreciated,
Kim