Insuring Co-Owned Non-Rental Property

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A client recently bought a home for his parents to live in. Both his parents’ names as well as himself and his spouse were listed on the deed to the home. The parents insure the home as homeowners in their own name. During our review, we advised our client to make sure he is listed as an additional insured on his parents’ policy to cover his own risk. If there was a claim, and our client was named in the suit as an owner, he would not have had coverage if he was not listed as an additional insured.

Whether buying property for someone else or sharing a property between friends or family, it is important for each person to be listed as an additional insured on the policy.

Let Brunswick Companies review your client’s policy to see how we can best protect the world they love and everything in it.