My dad recently passed away and we are now living in his old house. We dont know what to do with the homeowner til we get everything finalized and transferred to my husband and I.The house has been paid off for years so there is no mortage or bank involved. Should we get a poilicy or just keep paying on his til its finalized? Should we get a homeowners (even though its not final yet) or renters insurance?
We were told this could take up to a year or so to finalize.
We were told this could take up to a year or so to finalize.
Ed Atun 8:05 pm on March 2, 2010
Your policy will cover you like a homeowner. You may be asked to produce a copy of the will and the death certificate. To be properly covered, you need to notify the company of the death..
src50 8:05 pm on March 2, 2010
Whoever is the executor of your father’s estate should keep up payments on the existing policy until the probate process is complete.
Marty H 8:05 pm on March 2, 2010
Until ownership of the house is finalized in your name, you should get a renters insurance policy to cover your own personal property if/while your living in your dad’s house. Until your father’s estate is settled, the current homeowners policy should keep coverage on your father’s personal property too until ownership is transfered to you and other family member heirs. Keep paying his premiums as needed.
Sorry for your loss.
car253 8:05 pm on March 2, 2010
Keep the old policy going. You can notify the company and they will put on the policy the name of the estate. If you don’t want to complicate things then don’t tell them. That’s ok too. Just keep the old policy going.
You probly don’t need renters insurance because if you are living there as family your stuff is covered too. You can check with the policy.
c 8:05 pm on March 2, 2010
If there is a procedure that you are currently involved in as far as transferring title of the property to your name, then you can keep the current insurance policy in force which is in your dads name.
(Sorry for your loss by the way).
Once its finalized, you will have to switch the policy to your name to be fully covered in case of a loss/claim. Call the agent of the policy and have him/her add yours and your spouses name into to the policy as an "additional insured" endorsement, so that you are covered if anything was to happen right now.