House insurance being cancelled due to death. What are my options?
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My mother passed away in May 2016. I am the executor of her will and plan to probate her estate. I will not be able to pay the attorney to probate until at least February of 2017.
I received a letter from my mother’s home insurance company, Farm Bureau, that they were cancelling the insurance due to her death. I had asked them to extend coverage until I could probate the estate and get the deed in my name.
Do I have any options to get house insurance coverage in this situation? Or will the house be without insurance until I can probate the estate and get the deed in hand?
Thank you for your time,
Asked October 21, 2016
Okay, you have a two options here, in general. The policy normally will have a one-year shelf life, in the case of a death. Unless there was some pre-determined factors going on, the policy will remain open. If you are have already received a letter from the company, then you need to contact the company ASAP. Give them the details of the death. Give them a copy of the death certificate.
Give them information as to who you are. Here's the deal. The policy should automatically get transferred over in your name, if you are a member of the family. In most cases, they don't just transfer it over to someone brand new. It's best to check on this though. Your mother's company might not offer this. They might just tell you that you are cut off. If this is true, then you need to find a new policy within the limited time frame and window.
If your mother's policy will allow you to transfer the name over, then give them the dates of the death. Tell them who you are and give them your phone number. Find out if the payments have been paid in full or not. If they have been, you should be covered until further notice. If they have not been, you might have to start making payments.
You should be adequately covered under the terms. Read the terms before you do anything though. These policy terms will outline what you need to do next. Once the deed is transferred over to you, you might want to explore other options, just in case they do cut you off. It might not be in your best interest to keep you mother's policy. It might have worked for her, but not for you.
It's best to contact your insurance company to find out for sure. They might have other options for you. Don't let this go.
Answered October 25, 2016 by IndyIns