Home Insurance for Executors:
Avoid Common Pitfalls and Protect Your Liability with Insuristic

Could one wrong insurance decision as an executor or administrator cost you your own financial future?

This is an unfortunate risk for people acting in this role.

This is because those administering the estate have a duty of care to protect the property.

Suppose a claim arises on a property that is rejected by the insurer but could have been insured with another provider. In that case, a breach of this duty of care occurs, as the executors have failed to protect the property.  This will result in the executors and personal representatives being liable for the costs of repairing, reinstating, or rebuilding the property. 

This risk increases because it's easy to purchase the wrong cover online. It's common for unoccupied home insurance policies to provide minimal coverage and exclude claims for incidents such as burst pipes, flooding, subsidence, theft, or vandalism. These policies are typically not designed to protect an executor's liability but rather to reduce the insurer's risk of a claim.

Even a small uninsured loss, such as a burst pipe — a common type of claim — could result in a bill of thousands of pounds.

If the uninsured claim was substantial, such as for a fire or flood, it could amount to hundreds of thousands of pounds and seriously jeopardise your financial future and your relationship with the beneficiaries.

There isn’t a specific product called Executor Home Insurance, it is a term that executors often use when searching for insurance for an empty property in probate, or a property that is still occupied.

People might also look for probate property insurance, probate house insurance etc.  which all mean the same thing.

There are very few providers that have a product specifically for insuring probate property.  You can learn more about the cover by following the links below:

• Insuring Empty Probate Property
• Insuring Occupied Probate Property

Underinsurance is a major risk for executors.

If you consider that 8/10 properties in the UK are underinsured, this is another common risk for executors.  Claims on underinsured property can be significant.  Imagine a property insured for £300,000 deemed to have a rebuild cost of £600,000. 

The maximum the insurer would pay out in the event of a total loss would be £300,000, leaving you to cover the difference. 

If there were a large claim amounting to, say, £100,000, the insurer in this example would only pay £50,000 less your policy excess.

I don’t mean to alarm you; I just want to ensure you understand the extent of your liabilities.  I can imagine that thinking about the consequences of arranging the wrong insurance policy is stressful.

Now, imagine the peace of mind that comes with knowing you have the right insurance for the probate property in your care, protecting you from personal liability and unexpected costs.  Allowing you to distribute the estate without issue, providing the beneficiaries with their full inheritance.

This is easily achievable for Insuristic customers, who can arrange cover online in a couple of minutes, which is unlikely to catch them out if they need to make a claim.   Furthermore, the underwriters of our policy have insured thousands of customers in similar situations over many years.

Most people responsible for administering an estate are likely feeling overwhelmed and unsure about the vast array of choices online, especially when it comes to protecting themselves from personal liability with the right insurance policy.

You might be unsure if the policies you are reviewing are adequate for empty probate property. As I’ve already mentioned, if there are issues with the insurance you arrange, you may be personally liable for uninsured losses, which could also lead to disputes with the beneficiaries.  Which is even harder if they are also close family members.

Typically, in your situation, people are feeling:

1. Confusion and Overwhelmed: You're faced with a lot of information online, but it's hard to know if what you are seeing is the right fit for an unoccupied property in probate.
2. Under pressure: You're already juggling your own life and responsibilities; you could be grieving too, so spending hours trying to understand insurance is a burden.
3. Fearful of the risk to your Personal Liability: You're worried that if the insurance isn't adequate, you could be held personally responsible for significant losses.
4. Worried about what happens if there is a Claim: You're concerned that the policy you choose might not cover the specific risks associated with empty property during probate, leaving you in a difficult financial situation.
5. Pressure from Beneficiaries: Who want you to distribute the estate quickly so they can receive their inheritance. You might worry about the increased pressure you will feel if you have chosen an insurance provider with slow or complex claims processes that can delay estate distribution or if the insurer provides an unfair claims settlement, leaving the estate worse off with a subsequent liability for you.

In your search for executor home insurance solutions, you might also be considering:

1. Extending the existing insurance arranged by the deceased. After all, they are insuring the property already, so it must be adequate… Right?    This is potentially risky, as the existing insurer might impose new policy conditions that are difficult to comply with or remove key areas of cover.  Additionally, the deceased may have underinsured the property, a liability that you would inherit by continuing cover with that insurer.
2. Buying insurance from a non-specialist because they provide a great price, not realising they may exclude a lot of cover such as burst pipes, flood, subsidence, theft or vandalism, all of which could result in big losses for the estate, repayable by you and the other people administering it.

Our Probate House Insurance will provide you with immediate peace of mind.

Insuristic has a thorough understanding of probate, and our cover is designed to address the risks you face with clear, straightforward information, free from confusing jargon, saving you time and giving you confidence in your decision.

You can arrange cover from the moment the property becomes unoccupied and maintain it for as long as you are responsible for insuring it, until it is sold or reoccupied.

Plus, our underwriter provides dedicated claims support to simplify the process in the event of a claim, protecting you from personal liability and ensuring a smoother estate distribution.

The cost of executor home insurance and the cover available will vary significantly depending on the provider.

Currently, the average Insuristic Probate House Insurance customer spends £265 (as of September 2024*), including insurance premium tax, typically buying our Silver cover for a period of six months.

There are no hidden costs with Insuristic, either, particularly for early cancellation, which is common in probate. After all, who knows how long it will take to sell a property or find tenants? So, if you cancel early, you will get a refund representing the full value of cover left on the policy, making this a cost-effective option whether you are insuring for days or months.

By not securing the right specialist insurance, you risk:

1. Significant Financial Loss: Facing hefty repair bills or other costs if you under- or inadequately insure the property, potentially depleting the estate's assets or even incurring a significant financial liability for you, such as if a claim is denied or payment reduced, leaving you to repair, replace, or rebuild the property.
2. Emotional Stress and Worry: Constantly worrying about potential risks and whether you have the right protection adds significant stress to an already difficult time.
3. Legal Complications: Potentially facing legal challenges from beneficiaries if you're deemed to have been negligent in your duty to protect the estate's assets
4. Damaged Family Relationships: Facing disputes and resentment from beneficiaries if the property isn't adequately insured and the estate suffers a financial loss.

But the good news is that you do no need to take these risks.

Our Probate Property Insurance is designed to give you the peace of mind and protection you need during this challenging time.

We understand the challenges you face and your responsibility for protecting an empty property during probate.

Our Probate House Insurance is specifically designed to provide you with the clarity, protection, and support you need during this stressful time.

• Exclusive to Insuristic: We designed our policy for clients like you. Our insurance is not available on comparison websites or elsewhere.
• Specialist Probate Focus: Unlike standard home insurance, our policies are specifically tailored to the needs of estate administration and the unique risks of unoccupied properties during the probate process, from initial vacancy until sale or when the property is occupied again.
• Our Cover Is Easy to Understand and Quick to Buy: We cut through the jargon and provide straightforward information, making it easy for you to understand the cover and arrange the right policy quickly and efficiently, saving you valuable time and reducing stress.
• Commitment to Clarity and Transparency: We prioritize clear and straightforward communication, ensuring you understand exactly what you're covered for without hidden clauses or confusing jargon.
• Flexible Cover Options: Choose from three levels of cover and purchase insurance for 3, 6, 9, or 12 months, with the option to extend cover as often as needed.
• You Get Peace of Mind and Protection from Personal Liability: Our specialist cover helps ensure you're protected against the specific risks associated with unoccupied probate properties, giving you the confidence that you're protecting yourself and the estate against uninsured losses.
• Dedicated Claims Support: Should the unexpected happen, our underwriters’ experienced claims team will provide full support, guiding you through the process and ensuring a smooth and fair settlement, minimizing disruption to the estate distribution.

You can check out our reviews online from sites like Trustpilot, and you will see first-hand that our customers experience the service I have described to you.

We understand the challenges you face and your responsibility for protecting an empty property during probate.

Our Probate House Insurance is specifically designed to provide you with the clarity, protection, and support you need during this stressful time.

• Exclusive to Insuristic: We designed our policy for clients like you. Our insurance is not available on comparison websites or elsewhere.
• Specialist Probate Focus: Unlike standard home insurance, our policies are specifically tailored to the needs of estate administration and the unique risks of unoccupied properties during the probate process, from initial vacancy until sale or when the property is occupied again.
• Our Cover Is Easy to Understand and Quick to Buy: We cut through the jargon and provide straightforward information, making it easy for you to understand the cover and arrange the right policy quickly and efficiently, saving you valuable time and reducing stress.
• Commitment to Clarity and Transparency: We prioritize clear and straightforward communication, ensuring you understand exactly what you're covered for without hidden clauses or confusing jargon.
• Flexible Cover Options: Choose from three levels of cover and purchase insurance for 3, 6, 9, or 12 months, with the option to extend cover as often as needed.
• You Get Peace of Mind and Protection from Personal Liability: Our specialist cover helps ensure you're protected against the specific risks associated with unoccupied probate properties, giving you the confidence that you're protecting yourself and the estate against uninsured losses.
• Dedicated Claims Support: Should the unexpected happen, our underwriters’ experienced claims team will provide full support, guiding you through the process and ensuring a smooth and fair settlement, minimizing disruption to the estate distribution.

You can check out our reviews online from sites like Trustpilot, and you will see first-hand that our customers experience the service I have described to you.

• Broader Cover Options: Our policy options are often more comprehensive than those offered by many of our competitors, providing a wider range of protection tailored to the specific needs of probate properties.
• Conditions that are easy to comply with: Our policy conditions, such as inspection requirements, are designed to be more practical and easier for you to comply with.  Thus reducing the risk of claims being denied because you have or haven’t done something that the insurer required you to do.
• Support for Occupied Property – if the property is occupied during probate this isn’t easy to insure online.  We can help you arrange insurance offline on a product suitable for this purpose.
• Superior Cancellation and Refund Policy:  We will never charge you a fee for cancelling or changing your policy.  Unlike many of our competitors, we don’t charge fees if you need to cancel early, nor do we have lengthy refund processes.  Instead, we will quickly provide you with a refund representing the value of any unused cover.

So, if you want to adequately protect both the property in the estate and your liability, why not insure empty property in probate with Insuristic?

You can get a quote and buy a policy in less time than it takes to make a cup of coffee.