One of an Executor’s important roles is to ensure estate property is protected during the administration process before it is distributed to the beneficiaries. If there is a property in the estate and there is a question over whether insurance is needed, in short the answer is yes it is, it is very important unoccupied property insurance is in place from the date the property became unoccupied until it is sold. If existing cover is not amended to unoccupied or worse, it is not insured at all and a fire broke out for example the insurance company could refuse to pay out and if there is no insurance in place the Executor could be held personally liable. Some insurance companies will no longer cover a property if it is unoccupied so it is wise to choose the provider carefully. There are specialist insurance companies that deal with unoccupied property insurance.
If you are appointed as an Executor and require assistance in relation to administering an estate please do not hesitate to contact a member of our Probate team. Our Probate team can assist with all aspects of an estate administration.