Home Buildings Insurance During Probate

numbersrule

I hope this is better posted here instead of Insurance & Life Assurance Forum.

My late uncle passed away last October and the Home Buildings Insurance for the property he jointly owned as Tenants in Common with his sister, my mum, has just come up for renewal.

We are still within the Administration period so the transfer of ownership to wholly be with mum has not completed.

The existing insurers advised us (mum and I) that they could not insure the property any more because it is a 'complicated situation'.

They referred us to a different company who are charging double the premium from last year.

I would say our situation is no more complicated than most Probate and Prooerty matters.

Has any other forum members experienced this type of punitive charging?

Thank you for taking the time to read this.

HobgoblinBT

Is the property occupied or empty?  Empty property insurance is more expensive than a normal occupier home insurance.

numbersrule

Hi HobgoblinBT, yes, the property is occupied - I live and work in it.

thegreenone

If you are living there, is there a reason why you can't just take out a policy in your name?   You are a tenant.

numbersrule

The Insurance in question is Buildings Insurance taken out by the owner, my mum.

Skibunny40

Was the previous policy in joint names of your mum and uncle, or just your uncle?

numbersrule

Skibunny40 said:

Was the previous policy in joint names of your mum and uncle, or just your uncle?

Actually, it was just in my late uncle's name previously, but we've realised now that it should have been in joint names with my mum.

Savvy_Sue

In this kind of situation, phoning a local insurance broker can be very helpful. 

Swipe

Savvy_Sue said:

In this kind of situation, phoning a local insurance broker can be very helpful. 

Yes, good advice. I called my mum's broker who had set up the existing policy when she died and it just cost an extra £70 to have the existing policy that was 5 months in to be converted to an unoccupied house policy.

Keep_pedalling

Your mum is effectively your landlord so specialist insurance may be required.

If your mother’s estate is likely to have to pay IHT, now would be a good time for her to consider passing on the share of the house she inherited to you (or you and your siblings) via a deed of variation. This will prevent it ever being included as part of her estate.