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Question

My landlord, the person that is selling my house to me. lease to own is saying I need to carry insurance on the house. Can I get insurance without being the owner or would she have to get homeowners insurance?

Answer 1

Only the owner of the home can insure the actual building.  You can however, get a tenant homeowner's policy (HO4).  This policy insures your improvements to the home, your personal property, and gives you liability coverage.  Many landlords require that you have Renter's Insurance (tenant homeowner's policy) incase you are responsible for burning the house down.  But the landlord must insure the actual building.

Answer 2

the owner has to carry the insurance on the home, so unless you are on the deed, you cannot carry the insurance.  your landlord needs to carry this and make SURE they list you as an additional insured on the property as you have an insurable interest.  you need to take out your own insurance policy for a renter to cover your property in the home that you own.

Answer 3

No you can go ahead and get the insurance yourself, if you need more help let me know. I could help

Answer 4

There are some states that will allow you to acquire standard homeowners insurance IF you have what is known as a triple net lease.  Check with a local agent to see if you can do this where you live and if you can, talk to an attorney or paralegal to see if they can draw up the documents required.  Do be cautious as a triple net lease places a tremendous amount of responsibility on you.

Answer 5

try going on

www.moneysupermarket.com

And type in your info and see what comes up!Good luck xx

Answer 6

Are you actually buying the house from your landlord?  Do you have a contract and an amortization schedule?  If you have a contract then you are the owner and the landlord is the bank in essence as he is financing you buying the home.  If you are truly buying the house then you can carry the insurance and have your landlord (titleholder) listed on the policy.  That way if the house were to be destroyed your landlord would get his insurable interest (what you owe on the house) and you would get the rest of the money (what it would cost to rebuild minus what you owe) plus your property.  It is always cheaper to insure a home as the owner instead of you having a renters policy and your landlord having a non-owner occupied home.

Answer 7

If you are required to get renters insurance, fill out the form here.  A local agent in your area will contact you and help find you the company that will be the best fit for you.  

http://www.insureme.com/landing.aspx?Ref...

I hope that helps.  

Jared Balis

http://www.utahinsurance.org