4 Steps to Help You Insure Your Property or Vehicle “In the Estate of”
Going through the process of organizing insurance for assets that have been registered into the Estate of a loved one can be a complex and emotional experience as you mourn their loss. You may not be aware but property such as a house, vehicle or cottage, will need to be transferred to the name of the Estate to ensure that the property remains covered through insurance. At Rhodes & Williams Insurance, we understand that this is the last thing you may want to think about which is why we are here to support you during this difficult time. Below are the (4) steps* to ensure the process is simple and easy for you and your family:
- Provide a copy of the death certificate for the estate owner(s)
- Gather a copy of the will, highlighting the name(s) of the executor(s);
- Contact Rhodes & Williams Insurance to discuss the insurance options available to you. Our insurance brokers have access to various insurance companies and can help you choose the best option to meet your coverage needs; and
- Once the new insurance is in place, the policy will remain in the Estate name until the asset has been sold or transferred to another name. At this point, the executor(s) will need to sign a cancellation form.
Contact Tommy Porteous at email@example.com or call 613-226-6590. Tommy is a RIBO licensed Ontario Insurance Broker and can guide you through the steps needed to get insurance in the “estate of”.
*This list is to be considered a guide only and does not represent every situation possible. You are strongly advised to speak with your broker to discuss your specific situation.