Property Insurance
Owning property through a trust can provide flexibility, protection, and tax planning benefits — but it also brings unique responsibilities, especially when it comes to insurance. Standard home insurance policies may not automatically cover a property held in a trust, and failing to arrange the correct cover could leave trustees or beneficiaries exposed to financial risk.
Whether you’re a trustee or a beneficiary, understanding these insurance requirements is essential for safeguarding the property and avoiding potential liability.
Check with your insurance company or broker, some will not offer property insurance for a property owned by a Trust.
- You occupy the house as a beneficiary, but the Trustees are the owners.
- Ensure the policy is in the name of the Trust or that the Trustees’ interest is noted.
- You may need a separate contents policy as the Trustees own the building, but you own the contents.
On our Facebook page, we have a document which details names, addresses etc of insurance brokers/companies that we are aware off, who will insure property in Trust.