Monoline does provide coverage for co-owned properties, provided they meet specific eligibility requirements outlined below.
Eligible Co-Ownership Structures:
Coverage is available for properties with the following ownership arrangements:
Sole-owned personal residences
Spousal co-ownership (Spousal-owned properties are properties owned by individuals who are legally married or who are domestic partners)
Co-owned residences with resident household members where:
All owners are resident household members
All owners are named insureds on both the umbrella and underlying policy
Trust-owned residences (limited to single-member family trusts or multi-member family trusts where all members are named insureds)
Ineligible Co-Ownership Structures
The following ownership arrangements do not qualify for coverage:
Co-owned residences with non-resident owners
Co-owned LLCs
LLCs owned by multiple trusts
Any ownership structure that introduces uninsured third-party premises liability