Is it legal if two people own a home but only one person collects the home insurance?

It is generally legal for two people to co-own a home, but for only one person to collect the home insurance, depending on the specific circumstances and the terms of the insurance policy. Home insurance policies typically cover the dwelling, personal property, and liability for damages or injuries that may occur on the property. In order to be covered under the policy, the person who owns the home and the person who collects the insurance benefits must have an insurable interest in the property. This means that they must have a financial stake in the property, such as owning it or having a mortgage on it. If two people co-own a home, they may both have an insurable interest in the property and both be listed as named insureds on the home insurance policy. In this case, both owners would be entitled to collect benefits if a covered loss occurred. However, if only one person is listed as the named insured on the home insurance policy, they would be the only person entitled to collect benefits if a covered loss occurred. This could potentially lead to disputes between the co-owners if one person suffers a loss that is not covered by the insurance policy. It's important to note that intentionally misrepresenting information to an insurance company in order to obtain coverage or benefits is illegal and could result in serious consequences, including criminal charges. In summary, it may be legal for two people to co-own a home, but only one person may collect the home insurance benefits, depending on the specific circumstances and terms of the insurance policy. It's important for both owners to have an insurable interest in the property and to ensure that the insurance policy accurately reflects their ownership and financial stake in the property.