Biz provider insurance and land trusts - Posted by CarolFL
Posted by CarolFL on March 16, 2000 at 13:56:15:
OK, ok after poking at all of this for 18 months we are finally ‘getting organized’. Hold your laughter please.
As I busily punch out docs from BBronchick’s diskette, I stop by my insurance agent’s office to pay a bill and ask him how he will handle the properties which I am putting in trusts.
Up until now, most of ours were (1) titled in our names (ouch!) and (2) covered by a “Business Provider Policy” which allowed us to cover numerous properties under one policy, and insure some of the small ones at rates which would be below the minimum - no matter what their value.
(ex: $150 on the grouped policy vs $350 on a single property).
Nationwide (the insurer) is “researching” the question, but I have learned that if I can get the answer first, the research is more likely to result in something favorable to my cause.
Anyone have any experience that might shed light on the situation?