25 October 2018

By Craig Sutherland, Property Manager 

Following the successful launch of our Properties in Trust scheme in 2016, one of the more common issues we have come across during this time is ‘change of ownership’ and subsequent impact this has on insurable interest.

Often our clients are unaware that when transferring their property into a Trust they are no longer the sole owner. This is because the legal ownership now sits under the name of the Trust and the buildings insurance must reflect this change of name. 

Many standard household insurers cannot accommodate the fact that the property is now in Trust and this can often lead to claims not being met combined with a requirement for an alternative policy to be sourced.

Our specialist product has been created to help our clients get peace of mind that they are insured on the correct basis and on a policy that has been tailored to cope with the specific demands of a Trust, whilst retaining a competitive level of pricing. 

The policy provides cover up to £1 million reinstatement value for the buildings as standard and automatically extends to accommodate the property being used as a buy to let, unoccupied or as the main residence of the Trustees. 

Whether you are an individual Trustee or a Law Firm looking to offer your clients a bespoke solution, we would be more than happy to discuss your requirements in more detail.

Please contact Craig Sutherland for more information – 0131 561 2442 or craig.sutherland@brucestevenson.co.uk 



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