Insurance Question - different name on policy vs property deed

[John L.]

I have a duplex that I bought from my dad years ago. The duplex is half of what used to be his fourplex. I just realized that though the duplex is under my name, the homeowner's insurance policy is under my dad's name. In fact, the insurance policy covers the entire fourplex.

If anything happens with my duplex and I need to get the insurance company involved, am I still covered?

Thanks in advance for your help!

[Jason Bott]

@John L. you always want the Named Insured on the policy to match the name/entity that holds the title to the property.

If you have a claim, there most likely will be issues.  

1) By law carriers do not pay parties who are not listed on the policy.  

2)  The owner of the policy does not own the property, which could also make the policy void.

Given it's your father, chances are they would work it out, but it would definitely slow the claim process. 

Call your agent today and make the change.  Please keep in mind they may need to cancel the current policy and underwrite a new policy for you.