When managing a loved one’s estate, it’s easy to overlook the finer details, especially when it comes to the property they have left behind. While it might seem unnecessary to keep full insurance cover on a home that’s unoccupied or awaiting sale, remember that there are various risks that could lead to substantial damage. From break-ins to weather damage, an uninsured property can quickly become a costly burden.
Read on to understand why full insurance cover is essential for every probate property and how it protects you legally and financially.
Why Standard Home Insurance Is Not Enough
Once a property becomes part of probate, its insurance needs change. Since regular home insurance policies are designed for owner-occupied properties, as soon as a home is empty or the owner has passed away, many of those policies become invalid. This gap in protection can leave the property exposed just when it is most vulnerable.
Unoccupied homes are at higher risk of theft, vandalism, and structural damage, especially if maintenance is delayed. Water leaks can go unnoticed for weeks, while burst pipes or broken windows can escalate into major issues. That is why specialist cover, like probate house insurance, is so vital during this period.
Legal Responsibility And Peace Of Mind
If you’re handling a deceased person’s estate, you may be the executor or administrator. That role comes with serious legal duties. One of them is protecting estate assets, which includes the property.
Without full insurance, any damage or loss to the house could result in financial liability for you personally. Insurance not only provides peace of mind but also ensures that you are fulfilling your legal obligations.
Having adequate cover in place reassures beneficiaries that you are taking all the necessary steps to preserve the value of the estate. In some cases, it might even speed up the probate process, especially if the house is being sold as part of the estate’s settlement.
Common Risks Covered Under Full Insurance
Proper probate insurance is designed with various risks in mind. Thus, it typically includes:
- Cover for malicious damage and break-ins
- Protection against accidental damage, like burst pipes
- Liability cover, in case someone is injured on the property
- Fire and flood damage cover
- Regular inspections or proof of maintenance as policy requirements
Each of these points is crucial because probate can sometimes take months. During that time, even one small incident could turn into a costly repair if left uninsured.
Final Thoughts
Securing full insurance for a probate property isn’t just a bureaucratic box to tick. It’s a practical, legal, and financial necessity. It ensures the home stays protected, prevents losses, and fulfils your duty as an executor or administrator.
Skipping this step might seem like a money-saving shortcut, but the consequences are far more expensive. Cover the risk, protect the value, and avoid liability, because a property in probate still needs to be cared for just like any other home.
