Can A Home Be Insured If Your Name Is Not On The Title?

Yes, you can. However, keep in mind that you are acquiring coverage on behalf of the legal owner. It differs little from just lending the individual the funds to purchase the coverage.

Although insurance policies vary significantly from company to company, you will likely never discover a policy that allows a person without an insurable interest to be mentioned on the policy itself. This would result in unnecessary litigation if the uninsured party filed a claim. Insurance firms will make tremendous efforts to reduce or eliminate risk whenever possible.

And keep in mind that courts have already found that even if you mistakenly paid for some form of protection you "thought" or "assumed" you were receiving on a policy, you are only legally entitled to that protection if it is explicitly stated in the policy. Therefore, I would carefully examine the policy's language if the agent believes it provides the desired coverage.

There is more flexibility when purchasing insurance if the property is held in an LLC, corporation, or family trust. As long as you were interested in one of these companies, you would also have an interest in whatever real property they owned and be able to insure them accordingly.

Interest in the property does not necessarily necessitate your inclusion on the mortgage, title, lien, etc. Remember that the insurance provider makes the final decision, so if you can demonstrate an interest in the property, they will likely allow you to be mentioned on a policy. Therefore, if you have a personal note for a loan you issued to a property owner that implies some concern for his actual property to secure the loan, you may pass the insurance company's insurable interest test relatively easily.