Understanding how homeowners insurance works after a policyholder passes away could prevent unforeseen costs. It ensures that the proper coverage is in place for accidents, injuries, or damages that may occur on the property and alleviates worry. If you’re unsure how to make the necessary adjustments, consider the following before talking with a lawyer to determine the best way to proceed.

How to Manage a Home Insurance Policy After the Owner is Deceased

Talk With the Insurance Company

Homeowners insurance automatically becomes invalid when the policyholder passes away. It’s up to the estate executor to contact the insurance company and request coverage. If there’s no indication of who should carry out the task, then the lawyer will assign a surviving spouse or someone closest in relation to step in and make the call. Check to see if the company can keep the policy open until its expiration date, which will give you time to make the necessary arrangements.

Ask for Continued Coverage

The probate process can take several weeks to complete and increases the risk of being without coverage. A lawyer may suggest asking the insurance company to extend the policy until you can finalize the transition. If there’s no one living in the home during this process, you might have to take out a vacant-home policy to ensure the proper protection. This can be done on behalf of the estate and requires monthly premiums to be paid on time.

Create a Brand New Policy

Once the heir has possession of the property, it’s time to secure a brand new policy. If they were a spouse of the deceased, they could request a rewrite of the current policy to feature their name on the documents. Others will have to completely close the old policy and open a new one, supplying proof of identity and the home’s current condition.

Ensure that the proper estate planning documents are in place by working with Steven P. Ciardiello Esq., P.C. of Hamden, CT. With over 30 years of experience providing legal counsel, he’s recognized as one of the region’s top lawyers. He can practice in both Connecticut and New York and exceeds client expectations by offering a personalized experience. Call (203) 248-8000 to schedule a consultation. Visit the website to learn more about this attorney’s services.