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Wildfires that happened earlier this year have highlighted the importance of safeguarding our homes and financial well-being. While many homeowners have insurance, a commonly overlooked step is ensuring their policy aligns with their estate planning. If your home is in a trust, failing to list the trust as an insured party could leave you vulnerable to complications.
A living trust ensures your home is smoothly passed to beneficiaries while avoiding probate. However, if your insurance policy only lists you as the named insured, insurers may question ownership during a claim, leading to delays or in rare cases denials. By adding your trust as an insured entity, you help ensure seamless protection.
If your trust includes a primary home, condo, or investment properties, make sure all related policies reflect the trust. Insurable interest—who legally owns the property and has the right to file a claim—becomes a key factor in the claims process. Missing this step can delay or complicate payouts.
Wildfires are becoming more frequent, and insurers are tightening policy terms. In rare cases, some may refuse coverage if the named insured doesn’t match the legal property owner—your trust. Adding your trust now helps prevent gaps and ensures smooth claim processing.
Most carriers have a process to add a trust as a named insured, additional insured, or additional interest. If you haven’t updated your policy, now is the time to do so.
If you’re unsure whether your policy properly reflects your trust, now is the time to review it. Contact Schaub Insurance Agency for expert guidance—we can help you assess your coverage, make necessary updates, and ensure your home and legacy are fully protected. Schedule an appointment today at: https://www.schaubinsurance.com/customer-service