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Probate and insurance
caroline1973lefty
Posts: 358 Forumite
Hi there, my partner needs to get buildings & contents insurance on a property that he lives in, but will not legally own until probate goes through (he is the executor). The property has been uninsured for a while, so there is no prior insurer. Does anyone have recommendations? Does he need to go to specialist insurer?
"The Earth provides enough to satisfy every man's need, but not every man's greed" - Ghandi
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Comments
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It should be the Trustees who take out the insurance as they are temporarily responsible for the property until it passes to your partner. Being uninsured is a great risk, so obtain cover as soon as possible.
Most insurance companies will deal with this but suggest that you obtain a few quotes to obtain the best price for appropriate cover.I'm a retired IFA who specialised for many years in Inheritance Tax, Wills and Trusts. I cannot offer advice now, but my comments here and on Legal Beagles as Sam101 are just meant to be helpful. Do ask questions from the Members who are here to help.0 -
As the OPs partner is also the executor they have the responsibility. As they are already living there they may not need specialist insurance as the main issue for insures on houses going through probate is that most are unoccupied.SeniorSam said:It should be the Trustees who take out the insurance as they are temporarily responsible for the property until it passes to your partner. Being uninsured is a great risk, so obtain cover as soon as possible.
Most insurance companies will deal with this but suggest that you obtain a few quotes to obtain the best price for appropriate cover.0
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