Short term house insurance for probate

Rob
Full Member

Posts: 2,721

Short term house insurance for probate Mar 25, 2024 19:50:28 GMT

Quote

Post by Rob on Mar 25, 2024 19:50:28 GMT

Just wondering if anyone had thoughts/ideas on short term insurance needed whilst probate is sorted. Current insurance policy expires (and they know about the death) soon and the sale if it completes will be at least up to a month away. Exchange could happen soon after the policy expires.

The insurance is via a local broker my late mother used for decades. The quote about £233 for a 3 month policy (house is empty, water drained). Another online is £277 for the year and £25pm with an admin fee of £50 to cancel early. I am erring towards the latter.

What do the experts amongst you say? The insurance for 12 months for contents and building last year was around the same as the executor insurance quote for £277 which is building only and has more restrictions.

WDB
Full Member

Posts: 7,352

Short term house insurance for probate Mar 26, 2024 7:38:35 GMT via mobile

Quote

Post by WDB on Mar 26, 2024 7:38:35 GMT

You could put the online quote to the broker and see what they can do. Insurers don’t like unoccupied houses; I had to find a new insurer for the parental home until it sold, and that got quite expensive, but it’s a few hundred quid against an estate in five or six digits, so if you can get cover at all, it probably isn’t worth a lot of legwork to save a little money.

bpg
Full Member

Posts: 2,731

Short term house insurance for probate Mar 26, 2024 10:07:07 GMT via mobile

Quote

Post by bpg on Mar 26, 2024 10:07:07 GMT

When I had a place in the UK I insured it as a second home and it was registered with the county council as such. I was the only 'owner' much easier to have that conversation with myself. I think there are multiple parties in your case Rob which may complicate matters.

EspadaIII
Full Member

Posts: 3,532

Short term house insurance for probate Mar 26, 2024 10:07:38 GMT

Quote

Post by EspadaIII on Mar 26, 2024 10:07:38 GMT

Firstly get a proper policy which gives you the best cover for a vacant property (you may need to inspect on a regular basis - say every two weeks).

You will get a refund if you cancel during the year (less some costs). Assuming the house is selling for more than £100,000 don't worry about spending £300pa for good cover - it is miniscule.

Buzzz, bang, ouch!

bromptonaut
Full Member

Posts: 587

Short term house insurance for probate Mar 26, 2024 10:08:03 GMT

Quote

Post by bromptonaut on Mar 26, 2024 10:08:03 GMT

I'd be tempted to stick with the known quantity. As WDB says the difference, when selling a house/flat which is presumably free of mortgage or other encumbrances, is nugatory. On the other hand, again as already noted, insurers done like empty property and you don't want a fight with a new company looking to avoid liability...