If your home is titled in the name of a trust and you're a Nevada homeowner, there's a crucial detail you shouldn't overlook: making sure your trust is properly listed on your homeowners insurance policy. Failing to do so could lead to serious issues if you ever need to file a claim.
Why It Matters
Insurance policies are designed to protect the party or parties that have a legal interest in the property. If your home is legally owned by a trust but your insurance policy only lists you individually, the insurer could argue that the named insured (you) doesn’t actually have an insurable interest. This discrepancy can delay, complicate, or even invalidate a claim.
While it might sound like a technicality, it has real-world consequences. In the aftermath of California wildfires, some homeowners reportedly faced denied or delayed insurance claims because their homes were in trust names, but their policies were not updated accordingly.
What to Do if Your Home is in a Trust
Contact Your Insurance Agent or Carrier: Let them know your property is held in a trust.
Add the Trust to the Policy: Most insurance companies can add the trust as an "additional insured" or "additional interest." This ensures that the trust, as the legal owner, is recognized in the policy.
Include the Trustee(s) if Required: Some carriers may also require that the acting trustee(s) be listed.
Request Confirmation in Writing: Once the update is made, ask your insurance carrier to confirm the change in writing and keep it with your records.
Stay Ahead of the Curve
Regularly reviewing your homeowners insurance policy is always a good idea—especially when there's a change in ownership, estate planning, or property title. Including your trust in the policy ensures clarity and avoids unwelcome surprises at claim time.
Final Thought
Protecting your property means more than just buying insurance—it means making sure your coverage reflects your actual ownership structure. If your Nevada home is in a trust, don’t wait. Update your policy now to ensure you’re fully protected.
Need help? Contact us at Trenchant Insurance. We’re here to help you secure the coverage that aligns with your needs and your estate plan.