Protecting the property
An executor or administrator usually has a duty to take reasonable care of estate assets. A house that burns or floods without insurance can reduce what the heirs receive and expose the executor to complaints. The specific duties come from state law and the court; an estate attorney can explain them.
First insurance steps
- Find the homeowners policy and any umbrella or flood policy
- Contact the insurer to report the death
- Ask how coverage continues and who is insured
- Confirm the premium is paid
- Tell the insurer whether the home is occupied
Paying from estate funds
Premiums for estate property are usually paid from estate funds once an estate account is open. Keep receipts and records of payments, as you will need them for the estate accounting.
Liability
If someone is injured on the property, such as a neighbor or contractor, the estate may face a claim. Keep liability coverage in place and the walkways and stairs safe.
Before the court appoints you
There may be a gap between the death and the appointment of an executor. A family member can still call the insurer to report the death and ask how to keep the policy in force.
Working with co-executors and heirs
When several people share responsibility, agree on who manages insurance and visits, and share the policy details with everyone. Clear communication avoids missed payments or two people cancelling and buying policies at the same time.
Frequently asked questions
Can the executor be named on the policy?
Often yes. Ask the insurer whether to list the estate or the executor as an insured.