Where can we get homeowner’s insurance on an estate before it goes to probate?

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Where can we get homeowner’s insurance on an estate before it goes to probate?

The property will be put into a trust with 2 co-trustees. 1 of the trustees was the life partner of the deceased, lived in the home and will continue to live in the home for another year (or until it is sold). The partner has been paying all bills in connection with the property. The insurance company has notified the partner that they will not be renewing the home insurance policy because the “estate” is not an individual. 2 other companies have refused as well.Where can one get short term estate coverage before the property goes into a trust. Who will cover trustees?

Asked on September 26, 2011 under Estate Planning, Connecticut

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

The best way to resolve the problem with the real property's insurance issue is to have legal title to the property placed in the names of the two co-trustee's as trustees on behalf of the specific trust and then have the homeowner's insurance likewise placed in the same manner. The insurance policy should specifically designate the location of the insured parcel as well.

If you do not have an insurance agent to assist you with the above you should retain one to do so in order to have the proper insurance placed on the trust asset. The insurance agent should have the ability to also place short term insurance upon the real property you are writing about. One option is simply to continue with the insurance for the home in the name of the deceased person.

Good luck.

 


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