Me & my husband are buying a house and found out today that if you have a bankruptcy that this affects you premium costs. So, I was wondering if my dad could put the insurance in his name and list me & my husband as well but use his name for the credit check, etc. Im not sure if it has to be the same as the deed or what? The difference is astronomical in premiums. One insurance today quoted us $1471.00 per year.
Best reply by MommaBear:
No. The person has to have an ownership interest in the property — in other words, you can’t insure what you don’t own. I’m sorry that it was necessary for you to declare bankruptcy, but this is one of the unpleasant consequences consequences.
Read the original question here
Can insurance on a house be in someone elses name along with yours to make premium cheaper??