Insurance for property in probate requires a specialist policy to ensure adequate cover is obtained.
An executors role includes protecting the assets of the estate and this starts with a specialist empty property insurance. You don’t have to wait for probate to be granted before specialist empty property insurance is placed.
Usually as soon as a home is left empty the existing insurance is affected. If the homeowner is not returning then some companies will immediately start to restrict the cover. Many will exclude theft, theft damage, malicious damage and burst pipes from day one, some will wait for 30 days but you need to look very carefully at the policy definitions. If you phone the insurer, tell them the property is no longer occupied they may well say ‘standard terms apply’. Beware, ‘standard terms’ will likely exclude most of the cover you will need.
We are specialists for empty home insurance for probate and our policies do not carry the usual exclusions that a standard home insurance policy does. If you have been referred by your probate solicitor handling your affairs then we can offer you discounted rates and a blanket building sum insured of up to £500,000 to remove the uncertainly about transferring to a policy which requires a specific rebuilding cost to be disclosed.
Buildings and contents can be insured on the same policy at competitive rates – please give us a call on 01903 791340 or follow this link for more information
http://www.bickersinsurance.co.uk/trusts-probate/why-you-need-our-product