[WSBAPT] home owners insurance

[Roger Hawkes]

Thanks, Bruce.  Agreed; and I also advocate that further education about insurers obligations be obtained relevant to large insured assets. E.g insurance agents have no power to vary the written policy, which are impossible to read anyway.

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Bruce Moen
Sent: Thursday, June 22, 2023 1:37 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] home owners insurance

This is An important issue.  When the reporting requirement to the homeowners insurance (or car insurance) is overlooked,  we cause a breach of contract of the policy provisions. Thus a breach of fiduciary duty if you inadvertently give the company defenses to an otherwise covered event.

I don't know the number of days to report, but suspect that each policy would have its own provisions.  I recommend reporting asap upon the appointment of the PR.

Let me share my experiences on coverage.  When you report to the insurance agent, the insurance will often advise that the company cannot provide further insurance at any price. They are often mistaken.
If you politely thank the Agent and then call the insurance 800 number and ask again, you may find that the Agent was mistaken and that the coverage will continue at a hiked up premium.  Around 2x to 3x the normal premium.

A way to work around the premium increase is to arrange for a care-taker to enter the house a few times each week to collect mail and inspect the premises.  That is sufficient for some companies to continue the coverage at the normal premium.  Each company will treat the relationship between the normal premium and  a care-taker differently.

  Bruce Moen



From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Diane J. Kiepe
Sent: Thursday, June 22, 2023 8:20 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] home owners insurance

Hello all,

I feel like I should have this in my records but I don't - when someone dies and their house is unoccupied, how much time do you have to notify homeowners and if they say they won't ensure at expiration because the home is unoccupied who do you use?  Can they cancel midterm because of a death?


Diane J. Kiepe

PLEASE NOTE THAT I WILL BE TRAVELING FOR A FAMILY FUNERAL JUNE 21-JUNE 25TH.  I WILL HAVE VERY LIMITED ACCESS TO EMAIL.  THANK YOU FOR YOUR UNDERSTANDING

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

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