If Property Is Damaged By Hurricane During Probate Who Covers Repairs?



Video Summary

If property is damaged by a hurricane during probate, who covers the repairs? The first thing that you would need to look at is, did the decedent have an insurance policy that covered the property such as their home? If so, and the premium has been paid through the time of the hurricane and they have coverage, I believe that the insurance company will probably cover that. You might look at the deductibles for hurricane, which is usually substantial. I think it's 5% of whatever your loss are, or may be even more. And so, that's what the deductible is, but usually the insurance companies would have it.

If there is no coverage as far as insurance coverage, well, it's simply a casualty loss [sum 00:00:58] and you don't have any. The estate and the beneficiaries bear the loss. This is also a problem when it comes to some of these life estate deeds. Some people have received property under a Lady Bird Deed upon the death of the primary person, well, there is no longer any coverage for the decedent and so it's imperative that you see about getting insurance coverage as soon as the life tenant or the person who granted the Lady Bird Deed passes away.

If you have any questions, well, give me a call at 727-847-2288.