How Do I Add a Legal Entity Named Insured?

The Legal Entity Named Insureds section can be found on the Parties tab in the Portal.

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If the property deed lists a legal entity as an owner, then that legal entity must be added as the Legal Entity Named Insured. Most commonly, this is a trust set up by the occupants for the specific purpose of holding title to the home. However, other legal structures are permitted, provided they meet the criteria.

We have the following restrictions:

  • A policy may have a maximum of one LLC as a Legal Entity Named Insured.
  • A policy may have more than one trust listed. The second trust can be listed as an Additional Insured. All trusts are required to meet the Legal Entity Named Insured requirements.
  • A Legal Entity Named Insured:
    • Must exist solely for the purpose of owning property
    • Cannot derive revenue from any source other than property ownership and / or rental of residential property
    • Cannot derive revenue from pensions (if a trust)

When listing a Legal Entity Named Insured, it is critical to ensure that the human beings related to this entity or the home are also protected. If a trustee of the legal entity is also a resident of the home, that person needs protection for their personal property and personal liability.

  • If their name is on the deed, list them as a Human Named Insured.
  • Non-Resident LLC Members do not need to be listed as Additional Insureds.
  • Resident LLC Members should be listed as Other Household Members.
  • If LLC members are also on the deed, they should be listed as Named Insureds if they reside in the home.
  • If LLC members are also on the deed, they should be listed as Additional Insured if they do not reside in the home.

Please see this article to learn how to change the address for a Legal Entity Named Insured, and see this article to change the Policy Mailing Address to the Legal Entity Named Insured.

To endorse this field for in force policies, contact us via our webform or Live Chat.



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