Frequently Asked Questions

Why do I need insurance protection as an executor of a will or administrator?

Being an executor or administrator is a serious legal responsibility and any executor faces the possibility of unlimited personal liability if they make mistakes in the distribution of an estate. Professional executors are protected by professional indemnity however non-professional executors, personal representatives or estate administrators rarely have any form of legal or financial protection. Insurance is not a legal requirement for an executor or estate administrator, it is a matter of choice but it can give you the reassurance you need to carry out the executor’s duties effectively without worrying about the repercussions of any financial or legal claims that might be made against you. The cost of taking out executors insurance can usually be recouped as part of the estate administration.

How long will an Executors Insurance policy last for?

Our policy will protect you for 18 months but you can extend cover for a further 12 months with a discount of 50% on the original base premium.

Is a policy period of 18 months long enough to protect me as an executor?

The administration of most estates generally takes less than a year ­ however the Limitation Act 1980 does stipulate that certain claims can be made against the executor for up to 12 years after the death of the estate owner. In most cases, problems with the estate tend to arise during the early stages of probate, our policy cover lasts for an 18 month period but we can extend your Executors Insurance for a futher 12 months if you wish to continue your cover beyond the first 18 months. A 12 month extension is provided at a discount of 50% on the original base premium.

Do I need a policy which covers the entire value of the estate?

Some people will feel more comfortable if their insurance covers the full value of the estate while others will be happy with a level of cover which they consider protects them against reasonable financial and legal risk. Our online policy offers up to £1,000,000 of cover automatically and while the value of an estate might be larger, in reality it is unlikely that executors will be in a position where they become liable for the entire value of the estate. We do offer bespoke policies for executors who are looking for more than £1,000,000 of cover so do email or call us if this is something we can help with.

If there is more than one executor for an estate will Executors Insurance offer protection to all the executors?

Our standard online Executors Insurance policy offers protection for up to four named executors. We may be able to offer a bespoke policy for more executors but you will need to contact us directly at
enquiries@executorsinsurance.co.uk

I already have an Executors Insurance policy with you but another executor now wants to be added to this policy – can you arrange this?

We can arrange an individual policy for them which will give them personal protection but we cannot extend your policy to include other executors retrospectively.

I only found out about Executors Insurance after becoming an executor ­- can I backdate my cover?

The policy can be taken up as long as the policy commences within 6 months of you accepting the role of executor (the start point is usually based on the date that the estate owner died).