Home insurance to cover properties in probate
When a property is going through probate, responsibility for insurance will fall with the executors of the estate. The whole process of completing probate can be complex and time-consuming. Probate properties are often left empty for long periods. This can cause an issue for many ‘standard’ home insurance providers. They often won’t offer cover.
Designed for properties in probate, our home insurance will provide peace of mind that any damage to the building can be repaired. Quote online and avoid lengthy phone calls. Plus all our policies qualify for our ‘no cancellation fee’ promise. If you cancel the policy you will only pay for the time you need and no other hidden cost. Not all probate insurance providers can say that!
As well as the standard benefits, our specialist probate cover will offer;
- Cover designed for properties going through probate
- Building & contents cover, regardless of whether property is occupied
- Sensitive and professional assistance at what can be a traumatic time
- No time-consuming telephone referrals
- Flexibility and understanding from our help centre when dealing with executor queries
- Pay only for the time you need & no cancellation fees!
- Instant cover and access to documents
- Outstanding customer service with an average answer time of under 1 minute.
Need a little help quoting?
We have insurance experts ready to help if you want to ask a question. Our average call answering is under 1 minute so give us a call on 0333 358 3359. Alternatively chat with us online via our livechat option (bottom right).
Arranging Probate home insurance with CoverBuilder
As a legal executor of an estate, taking out a policy with CoverBuilder for a property that is going through probate is incredibly simple. The policy will need to be submitted under the details of the person that has passed away with the title selected as ‘Executors of’.
Discussing the policy after submission
In order for us to discuss the details of the policy with you and make changes, we will need to see a copy of the grant of probate. This document will confirm the identity of the executors of the estate. This is to ensure that the correct person has taken out the cover. They must have an ‘insurable interest’ in the property (some form of financial interest).
Once probate has been settled and the property has been transferred into the names of the beneficiaries they would need to take out a new policy in their own names. If the property is still unoccupied at this point then CoverBuilder can help. We will be able to provide a competitive unoccupied property policy.
Why choose CoverBuilder?
At CoverBuilder we are able to provide cover for properties in a whole host of unusual situations. This includes houses going through probate. The property could be occupied by living relatives or left unoccupied for a long period. This makes many standard insurers reluctant to provide cover. Under these conditions, a standard buildings and contents insurance policy will therefore probably not fit the bill.
MORE ABOUT HOME INSURANCE FOR PROPERTIES IN PROBATE
What is probate?
When someone passes away and leaves behind an estate it will go through a process called probate. This involves paying any outstanding debts and then dividing money and assets amongst the various beneficiaries. This can be a lengthy legal process, usually taking between 3 and 6 months to complete.
Once you have been named as the executor of an estate, in order to obtain a grant of probate there a number of tasks you have to carry out. These include things such as:
- Obtaining the death certificate
- Confirming your role as the executor of the estate
- Calculate the value of the deceased person’s estate and whether inheritance tax is due.
- Attending a Probate Registry interview and swearing an executor’s oath.
Probate house sale
Our home insurance is able to cover your property whether it is occupied or not whilst it is awaiting sale. You can choose basic cover or more enhanced options if there are contents within the property. We’re happy to discuss your options to make sure you have the right cover in place.
Why not just use a general home insurance provider?
Our policies not only cover the property against the general perils (fire, lightning, earthquake and explosion & aircraft) but also the full range of cover you’d expect from your home insurance property.
Useful Probate related links:
Inland Revenue guide to the valuation of a property process
A detailed guide on valuing a house for probate can be found at http://www.hmrc.gov.uk/inheritancetax/how-to-value-estate/land.htm
Inheritance tax issues
HMRC offers information and advice on probate matters and inheritance tax. Their website is www.hmrc.gov.uk
A guide on what to do after someone has passed away
The citizen advice provides advice and a fact sheet on what to do after some has died at www.citizensadvice.org.uk
How to apply for probate
You can apply for a grant of representation yourself or use a solicitor or another person licensed to provide probate services. There are 4 steps to follow, more information about these steps can be found at: www.gov.uk
Cruse Bereavement Care is the leading national charity for bereaved people in England, Wales and Northern Ireland. They offer support, advice and information to children, young people and adults when someone dies.
Cruse Bereavement Care supports people who are bereaved, their website is at: www.crusebereavementcare.org.uk.
Solicitors for the elderly
SFE (Solicitors for the Elderly) is a national organisation of lawyers who provide specialist legal advice for older and vulnerable people, their families and carers. Contains details of expert solicitors experienced in probate http://www.sfe.legal