Household insurance?

Question

Hello, i wonder if you could help, we are currently selling my parents house, who are now deceased, i wonder if its possible for me to insure the property just incase of a fire etc.

And would it be expensive.

ps i live in the UK

Answer 1

IF THE HOUSE IS IN YOUR NAME THEN YOU CAN INSURE IT IF THE PROPERTY IS UNOCCUPIED THEN YOU CAN GET 3MTS POLICIES BUT WITH NO RETURN IF CANX. INSURANCE WOULD BE ADVISEABLE AS THE LOSS OR DAMAGE MAY COST ALOT MORE THAN THE INSURANCE PREMIUM

Answer 2

put in a few table lamps with timers and a radio

Answer 3

If your selling up then why do you want to insure it?

Answer 4

Yes you can and should insure it.

It won't be cheap - but far cheaper than the cost of clearing up the mess if someone trashes or even worse burns it.

Answer 5

Presumably you are waiting to sell the house.  Depends if it's still furnished or not.  Some insurers don't like covering contents against theft etc. when the house is empty.  If it's just the building it should be possible to get cover.  You may find some restrictions/requirements about turning off the services etc, but if you talk to a local insurance broker they should be able to sort things out for you, and it shouldn't be massively expensive.

Answer 6

Most likely the insurance company will request a 'will' or just proof of you being the 'beneficiary' or the conservatorship before you can insure the house under your name. Some insurances companies do request death certificate to even terminate policy. It all depends on which company the house is ensured through and were it is (each state has different laws) Hope this helps.

Answer 7

I only deal with commercial insurance so I don't know about personal household, but contact your parents insurers as it may be possible to transfer the policy into the name of the executors, or if the house is now fully yours it may be possible to transfer the policy into your name. And in answer to the idiotic question why insure it, it is wise to insure the property because if it were to burn down before you sold it you would get nothing for it at all.

Answer 8

Here in the US, it’s a wise choice to insure, just incase.

Think of it this way, for a few bucks ($$$$) it’s worth it incase something happens.

Here in the US, once you sell the house, say 3 or 4 months down the road, you will get a refund on the unused portion.

Not sure what the cost is over there, but here it’s about $500.00 a year.

Answer 9

You can get quotes at http://www.portwood.co.uk for unoccupied property pending sale.

You will be able to insure it as executors.

Answer 10

Yes you should insure it and asap.  The cost of the cover will be dependent on the risk of the area, the type of property and level of cover you require.  It could cost a whole lot more to rectify any damage to the property.  

If there is an outstanding mortgage on the property waiting to be repaid from the sale, then insurance is a legal requirement.

A good example of the need for cover is the floods that happened last year.  People without cover were left with nothing except where the Government helped them out.

Answer 11

Buildings and contents insurance, check out moneysupermarket.com, also get in touch with the council you will still have to pay council tax but usually at a reduced rate if it is unoccupied.

Answer 12

You certainly should insure the premises until it is sold. Is anyone living there at present? If not you will have to tell the insurance company and the premium may be higher as a result. However, when compared to the potential losses if it burns down, the premium will be insignificant!

As soon as the sale has been completed (and not before) you can cancel the insurance and you might get a partial refund of the premium (unless you are paying monthly, in which case you may have to pay a proportion of the remaining balance).