Must home insurance be in the name of joint owners?

My brother and I own a home as joint-tenants. Can we insure the home in my name only, rather than put both names on the policy? Or is his name required on the policy as co-owner?

My brother has a mental disability. We split the property taxes, but I'm willing to pay for home insurance, to save him some money. Thanks!

The first named insured on the policy MUST MUST MUST be living in the house. If he does NOT live in the house, in most states and with most companies, he can be listed as an additional named insured on the policy (sort of like a mortgagee), without being a named insured. If he LIVES in the house, and you do NOT, then HE will have to be the first named insured, or else the house is NOT OWNER OCCUPIED!!

Keep in mind, any claims that happen on that policy, with you as a co-insured, will follow YOU when you need to insure YOUR home. Also, as joint owners, EITHER or BOTH of you can be sued, for dog bites, or slip and fall claims (even if it's the mailman delivering mail!), or whatever. So you BOTH need to be listed as SOMETHING.

You need to sit down and talk to your agent to figure out how to set this up, in a way that covers you both, but works for everyone.

sure...the policy is insuring the home.

Hi Mauryb, You know,for any insurance contract, there must exist insurable interest means legal substance.So,you cannot insure your home in your name alone.Insurance company may not ask for legal documents at the commencement.They'll spring back into action after you lodge a claim in future.

U will probably have to put the home owners insurance in both of u alls name especially since u both own the property. the only way u might be able to get out of it is his disability talk to your insurance company and see what they say.

You will want both names on the policy so you will both be covered. Do you both live there? If so you both should be listed. If only one of you do that person can be the primary policy holder and the other person as a secondary. If neither of you do and you're renting it out you will need a landlord policy with both of you listed. It doesn't matter to the insurance company who pays the premium as long as it gets paid.

please try this