Do I need to insure the deceased’s property?
Our Wills, Trusts, Tax and Probate Solicitors often get asked this question and the answer is a simple one: yes, you need to make sure that the deceased’s property is insured.
If the deceased already had home insurance, many would assume that this policy can just be left in place until the house is sold. However, with some home insurance policies, the cover would automatically end if the owned or occupier is no longer alive. Therefore, it’s important to contact the insurance provider to check whether the policy is sufficient to cover the house until it is sold.
Alternatively, you can cancel the home insurance policy and take out an unoccupied property insurance policy. Our Probate Solicitors have details of a policy provider that they have previously used, which they can set up for you when you instruct them in relation to dealing with your loved one’s Estate. Alternatively, you can find your own insurer online.
The next question we are often asked is whether it matters if the policy covers the contents of the property. Well, if the property has been emptied and all that remains is the main structure, such as the walls, kitchen units and bathroom, you may wish to highlight this to the insurance provider; they may then suggest a building cover only policy.
If, as the Executor, you do not insure the property and something were to happen to it, you may be liable to the Estate for the damage caused. As you can imagine, this is not something that you want to be covering out of your own pocket.