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Updated almost 6 years ago,
Putting Trust on the Insurance?
Hi Everyone,
So my properties are in a trust. However, my insurance for these properties was under my name only. I just discovered recently that that is a HUGE mistake, being that if anything were to happen, my insurance won't cover it since the property deed is under the trust and not myself. ( I corrected for this huge mistake).
I've spoken to my two insurance companies and one of them has put the Trust as the 'Name Insured' and the other has put another property as 'Additional Insured'.
Which is better and does it matter?
Thanks!