Policy invalid? Or change policy holder?

Nickyno

My MIL passed away on 30th Jan, her home insurance was due to renew today with the money due being taken directly from her bank account.  Would the policy still be valid when the policy holder is deceased? Or do we change the name of the policy holder?
Thanks

Marcon

Nickyno said:

My MIL passed away on 30th Jan, her home insurance was due to renew today with the money due being taken directly from her bank account.  Would the policy still be valid when the policy holder is deceased? Or do we change the name of the policy holder?
Thanks

It certainly won't be valid if the policy is renewed and the insurers don't know she died before the renewal took place. You need to contact the insurer and explain - the crucial thing they'll be interested in is whether the property will be unoccupied now she has died. This is particularly true if the phrase 'home insurance' covers buildings as well as contents.

Hoenir

Policyholder is now the estate, The executors will need to apply for the relevant cover.  As an empty property there'll conditions applied.

Nickyno

There isn't a will, am I correct in thinking the children (who are adults) will need to apply for administrative role of the estate and can they only do this when they receive the death certificate? Currently waiting on post mortem. Can they only sort out the house insurance after this?

poppystar

The house insurance is a priority. If the house is empty you really need specialist insurance to ensure any adequate level of cover. Do it now. It may be harder to do online and because I had so many questions and wanted to ensure I was answering questions correctly I did go to a broker on the High street. If the worst should happen it could be very costly to your inheritance so please get it sorted. Any of you should be able to do this. I was amazed that I did it without even having to prove my parent was deceased so no reason to delay. 

400ixl

Also do make sure you read the conditions of the new cover. For empty properties they have different clauses such as water must be shut off or must be visited every x days.

Marcon

Hoenir said:

Policyholder is now the estate, The executors will need to apply for the relevant cover.  As an empty property there'll conditions applied.

No, the policyholder isn't 'now the estate'. These things don't happen automatically - and the estate as such doesn't exist, even though we all refer to it! The personal representatives, whether executors or administrators, need to get on and sort it pronto. In the absence of a will, insurers will need to know who will inherit under the laws of intestacy and expect the relevant parties to take out the insurance.