How does insurance work on Land Contract?

[Sharad M.]

Hello all,

Happy New Year!

I am negotiating a Land Contract with a seller. The seller owns 3 properties and the seller and I have agreed on the purchase price, down payment, rate of interest, etc.

The one thing that I am not sure about is how does the insurance work on a land contract? The seller has mortgage on all 3 of the properties and is required to pay taxes and insurance through an escrow with the mortgage payment.

Do I just tell the seller to add me as an insured party to her existing mortgage?

What are my options as far as insurance is concerned?

Thanks in advance for all your help!