Hello all,

I am wondering if it is possible to insure a deceased persons assets. Specifically, if somebody dies that owns a house and say a vehicle, before the property is legally transferred into a living persons name, can a third party person insure the house/car from liability/fire/theft/etc.? I am interested for both the case where the property owner died, and also if the property owner is living. Thanks for your help!

Yes...

I'd call an insurance company and ask them after explaining the situation.

I'd also suggest that if OP wants help here, he should provide more details.

We generally can't go around insuring other peoples' property, naming ourselves as beneficiaries - for obvious reasons.

However, there may be workarounds in some situations, such as if the homeowner is terminally ill or incapacitated and in a convalescent home, for example, and payment for an existing policy is due. SUCKISSTAPLES said:Unless the deceased has been dead for a while, chances are good they have already paid for insurance coverage for a year.Probate can take over a year, or, if there is a will, that can take several months to resolve.

Since 1/4 of all yearly homeowners policies expire within any three month period, it's not unreasonable to assume that someone would be faced with paying the premium on a policy before an estate is settled.

When we went through this with my mother, the insuring was done by the trustees in the name of the estate.

Xnarg said:Porqin said:Xnarg said:I'd also suggest that if OP wants help here, he should provide more details.

Person A owns a house. Person A dies. Insurance policy for the house Person A owned expires within a very short period of time after Person A's death (ie. 1 week). Before the property can be legally transferred into a living persons name (might take a few months), can the policy be renewed in the deceased person's name, or can a policy be taken out in an estates name, or can some individual take out a policy?An interested party should call the insurance company holding the current policy. Does the estate have a trustee?

Yes, calling them directly should be helpful. I was trying to find other peoples experiences before talking with the insurance company. Generally, the less information you provide to them the better...yes, there is a trustee.

Xnarg said:Porqin said:Xnarg said:We generally can't go around insuring other peoples' property, naming ourselves as beneficiaries - for obvious reasons.Do these obvious reasons matter if the person is deceased? (If the person is already deceased, there is no motive for foul play over insurance monies)Think of the potential impact of people being able to insure property or possessions that don't belong to them and on which they have no claim, even when the rightful owner is deceased.
I've thought of the potential impact...if say the house burns down, the insurance money would go to the next rightful owner and not the one holding the insurance policy. I guess, if someone purchases an insurance policy on someone else's house, even if they don't directly benefit from an insurance event, will the insurance pay the money to the rightful owner/heir?