"We understand that executors and trustees need solutions that are both comprehensive and adaptable, especially during a time of legal uncertainty."
- Alison Williams, Managing Director at Prestige Underwriting
Recent government data suggests that probate delays have risen substantially, leading to a growing number of unoccupied properties across the UK. These delays can increase costs for estates, particularly when properties are left uninsured or underinsured.
Prestige Underwriting’s tailored product offers flexible coverage periods - 3, 6, 9, or 12 months - providing executors and estate planners with the flexibility needed to ensure full protection during the (often) unpredictable probate process.
With an increasing number of high-net-worth estates leaving properties unoccupied during probate, the need for specialist insurance has never been more significant. These properties are particularly susceptible to damage from perils such as flooding, fire, and theft, which can lead to significant financial losses for beneficiaries.
Unlike other policies that may demand stringent security measures, Prestige Underwriting’s solution doesn’t require onerous security warranties, making it a practical choice for properties of all types. This flexibility is essential for properties undergoing probate, where executors may not have immediate access or the ability to implement costly security upgrades.
As the legal sector continues to embrace digitalisation, with probate processes becoming increasingly streamlined, there is a growing emphasis on ensuring that interim solutions like short-term unoccupied property insurance are robust and comprehensive. Prestige Underwriting’s product aligns with these evolving needs, providing executors, estate planners, and trustees with the confidence to navigate the probate process without the added stress of potential property damage.
Alison Williams, managing director at Prestige Underwriting, said: “We understand that executors and trustees need solutions that are both comprehensive and adaptable, especially during a time of legal uncertainty. Our short-term unoccupied property insurance addresses the specific risks associated with unoccupied properties, including fire, theft, storm, and subsidence, without the burden of excessive security warranties.”
