Help I can’t find insurance for my land trust property in Florida. I have a single-family rental property deeded to a land trust with the beneficiary as an LLC from my research I’m finding that the land trust should be the insured and the beneficiary LLCs be the additional insured.
Problem, I’ve tried over 20 insurance brokers and no one will ensure the land trust or provided liability they want to ensure the trustee.
question is it true that the land trust must be the named insured and the beneficiary should also be a named insured and if so where do i get a policy like that?
Yes, the Trustee and the Trust should be shown as the Named Insured. I have a whole chapter in my home study course on How to Insure Property held in a land trust. Please consider getting a copy at: www.landtrustsmadesimple.com Also, as a member of my Land Trust University you will receive a list of insurance companies that my students use.
Mr. Land Trust
Since the owner of the property is the Trustee and the trust…the named insured should be the Trustee and the trust. You could also add the beneficiary but that exposes who the beneficiary is….it is best to cover the beneficiary(ies) with the statement, “and all beneficiaries as their interest may appear.” I have an entire chapter on insuring property in a land trust in my Land Trusts Made Simple Home study course available on my website: www.landtrustsmadesimple.com