Florida Vacation Rentals - Named Insured Correct?
There is a reason why we have the phrase "cross your t's and dot your i's" - because it is important to pay great attention to every detail when you finish a job or document. This is true in insurance too.
When you own or purchase real estate, it is important that the "Named Insured" accurately reflects the true owner of the real estate. A quick check would be to make sure the deed, mortgage, and insurance all have the same name.
Making sure the "Named Insured" is correct on an insurance policy, is critically important. For example, the insurance company will make out a claim check to the "Named Insured" subject to the terms and conditions of the policy.
When you purchase a Florida vacation rental property - be sure the policy "Named Insured" is accurate. Whether it is your individual name, a limited liability company (LLC), a trust, or a corporation - always make sure it matches.