Note to Estate Executors, Do Not Forget the Vacant Home Insurance

Vacant Home Insurance Now is reporting that a much larger portion of inquiries and recent requests have to do with insuring the home of a deceased relative. This is very important information for anyone that could be in that position someday.

Family members acting as executors of an estate need to understand the responsibilities they have with a vacant home, and most do not understand if the house sits empty for over 30 to 60 days, the "existing" homeowners insurance policy may begin to reduce or totally eliminate coverage. One of the first thing executors should do is investigate vacant homeowners insurance, and communicate the fact that the home is empty or vacant to the existing homeowners insurance company.

They will soon get a termination notice from the insurance company, but that is actually a good thing! How can this be? An estate executor that is holding a termination notice that says the insurance will be cancelled in 30 days due to a vacant building, at least knows coverage is in place for 30 days on the vacant property and has time to secure vacant homeowners insurance.

People that let months go buy or simply "hide the fact" from the insurance company are probably in for a rude awakening if there is a claim on the vacant home. Being an executor is a difficult and stressful time. What a catastrophe when the executor has to report to other family members that there has been a homeowners claim, and they failed to properly protect the interests of the family through vacant home insurance