Can I get homeowners insurance if the house is not in my name?

+1 vote
asked Jan 22, 2019 in Insurance by lukidawghause (240 points)
Can I get homeowners insurance if the house is not in my name?

2 Answers

0 votes
answered Jan 22, 2019 by marcusqn4 (390 points)
To get Homeowners insurance on a home you have to have the home in your name which means that your name needs to be on the deed to have an insurable interest in the home.

If your name is not on the Homes Deed and something happens to the home then the Homeowners Insurance policy will not pay out the claim to you.

The Homeowners Insurance will pay out to the person who's name is on the deed.

Now an exception is that if you have a mortgage on a home then the bank will require you to have Homeowners Insurance and list the bank as a Trustee etc on the Homeowners Insurance policy.

So if you have a mortgage you can get a Homeowners Insurance Policy on the home but if the home isn't under a mortgage and you don't own the home then you cannot get Homeowners Insurance.
0 votes
answered Jan 22, 2019 by Velikofon (430 points)
If you have a mortgage on the home you're buying then yes you can get Homeowners Insurance in your name even when the deed isn't in your name.

But if the house is not being bought through a mortgage and your name is not on the mortgage then no you won't be able to get a Homeowners Insurance Policy on the Home if it is not in your name.

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