Help! Losing my ins coverage because of a land trust

[Martha Daisley]

Hi everyone

I recently added a rental property to a land trust under the advice of my attorney. Well imagine my surprise (and irritation) when the insurance company said it was not within their underwriting guidelines to insure the trust.  And in addition, since i had already put the property in the landtrust and changed the deed , im going to lose my coverage. My attorney said they had never heard of this and that in their experience its never been a problem to add a land trust as an additional insured .  My insurance company is Peoplestrust.  Has anyone else had this issue?  Is it just that peoplestrust sucks or is this a common issue?  Im looking for recommendations for insurance companies that are ok with adding land trusts as additional insureds. Im in Florida. Any recommendations would be appreciated. thanks!

Martha

[Ian Shinnick]

I am a commercial insurance agent with clients in Florida and there are several other carriers that will list a Trust as an Insured on the policy. I have a few clients that have insured their properties thru their trusts. Not sure why Peoples Trust would have an issue with that set up but, then again, this is the same company that was suing their own insureds in the Tri-county area to avoid having to pay hurricane claims.