My mom died. i live in her house will i be allowed to keep the insuran.. on the house as long as its being pa

Question

My mom died. i live in her house will i be allowed to keep the insuran.. on the house as long as its being pa

Answer 1

you need to be more specific....

Answer 2

Well, that's a loaded question.  See, policies are NOT transferrable.  So YOU can't keep that policy.

There's a condition in the policy, that says if she dies, her estate, or the executor of her estate, are automatically covered.  So her estate is still covered, until the deed to the house is transferred out of her name.  

HOWEVER, YOU are not covered, under her policy.  YOUR stuff isn't covered.

There's ALSO a requirement, that the home be owner occupied.  Obviously, if she's deceased, she isn't occupying the home.  If/when the insurance company finds out she passed, they will non-renew the policy.  Meanwhile, once the deed passes out of her name, well, the policy might be there, but there isn't any INSURABLE INTEREST - in other words, if she - or her estate - doesn't own the house, and it burns down, HER policy doesn't pay ANYTHING.

Best thing to do, is talk to the executor of her estate.  Figure out what the time frame is, on the house being transferred or sold.  YOU need a renters policy to cover your stuff, in her house.  The estate might need to get a dwelling policy on the house, if it's not going to be transferred within a year.  

And the executor of her estate should talk to her insurance agent, to make sure that everything is done properly.

Answer 3

Most likely.  If you're a family memeber living in the house, then you're insured.  An "insured" usually includes family members in same household.

Answer 4

It's the property that is insured. The insurance carrier doesn't really care who pays the premiums.