The Importance of Homeowner’s Insurance for Maryland Probate

Homeowner’s insurance is an often-overlooked aspect of estate administration. If you are the Personal Representative of an estate, you have the fiduciary responsibility of securing and protecting all of the decedent’s assets, which includes making sure their homeowner’s insurance remains in effect for the estate’s real property.

As the Personal Representative you should determine if the house is insured  by an existing policy and what kind of coverage is in place. This may require looking carefully through the decedent’s documentation and have a conversation with the insurance company. Ideally, coverage should exist throughout the estate administration process. This is especially important since many houses remain unoccupied after the owner has passed away, which increases the risk of break-ins, vandalism, squatters, and maintenance issues.

You should also contact the insurance company since these situations are often handled differently depending on the company’s policies. For instance, you may be required to retitle the insurance policy. Some companies require that the policy be in the name of the estate, while others require that the Personal Representative be listed as the policy holder.  

Some insurance policies provide a grace period (typically 60-90 days) before excluding coverage, but it’s important to address this issue sooner rather than later in the estate administration process to avoid a lapse in coverage.

For a free, confidential conversation to discuss homeowner’s insurance policies as they relate to Maryland estate administration, contact Maryland estate attorney Stephen J. Reichert at 410-299-4959 or sreichert@reichertlegal.com.

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