I own a home, but my brother lives in it, I do not, can he carry homeowner’s on it?

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I bought a home for my brother to live in. I live in another state and he is the one that takes care of the upkeep and improvements and cares for it as his own house. Can he get homeowner’s insurance for it? Can we both have our name on the policy?”

Asked October 26, 2017

1 Answer

Unfortunately, yes. The person who's name is on the current title or deed for the house is the person who has to purchase the homeowner's insurance and have the policy in their name. Of course, your brother has the option to pay you monthly or yearly for the policy if that is your agreement but this is unrelated to your homeowner's insurance company.

Keep in mind there are other stipulations to follow when you have a homeowner's insurance policy. Most policies will require you to live in the home for a certain amount of time each year in order for the policy to be valid. If you have someone else there, this might constitute you renting the property to someone else, even if it is your brother. You will want to check with different providers to figure this out. Also, it is pretty typical that your home cannot go uninhabited for longer than thirty days or the policy can be cancelled. These are all things to consider.

It may be a convenient arrangement for your brother to maintain the home that you purchased but he will not be able to obtain an insurance policy in his name. You do have the option of adding him onto the title or deed for the house. This would give him a number of rights in the future.

Answered October 27, 2017 by insurance1822

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