Probate House Insurance

Probate is the legal process of managing and distributing a deceased person’s estate, including assets like properties, money, and possessions. The executor named in the will, or the closest relatives if no will exists, may need to apply for a grant of probate or letter of administration to legally handle the estate, pay debts and taxes, insurances and distribute assets according to the will or state laws.

Understanding probate, in relation to the legal process of administering and distributing a deceased person’s estate, can be complex and time-consuming, often requiring legal assistance. We have a comprehensive guide to help you understand property insurance after the owner’s death, outlining what steps to take with your insurance in this situation.

An executor is the person named in a will to manage and distribute the deceased’s estate. Their duties include gathering assets, paying debts and taxes, and ensuring the remaining assets go to the beneficiaries as specified in the will. They gain legal authority to do this after obtaining a Grant of Probate.

Probate insurance can vary depending on a range factors like property value, location, condition, level of cover and any add-on policies you may need. The most important factors that will impact the cost is if the property is unoccupied; unoccupied property insurance is more expensive than standard home insurance. The exact cost of a policy can really vary, so it’s best to get a tailored quote from an insurance provider.

Probate insurance is essentially the same as executor insurance. They are important for safeguarding properties during the probate process, especially if it will be unoccupied. We can walk you through your specific requirements and discuss which cover might be suitable for your situation.

The duration of probate insurance should match the length of time the property will be in probate. Typically, probate can take several months to over a year, so we would suggest to take out cover for at least this period. You can extend the cover if needed, depending on how long the probate process may take. It’s always advisable to discuss this with us so we can recommend a solution that works best for you and your situation.

If the deceased had household insurance, this existing policy may allow for a certain period of unoccupied cover, so it could be worth checking this.