Can you insure a property you have not yet inherited from a family member?

Insuring a property that you have not yet inherited from a family member is not permissible, as you must have an insurable interest in the property. Insurable interest is defined as a stake in the property or a financial interest that would suffer if the property were damaged. Since you do not legally own the property or hold any formal rights to it until the inheritance process is completed, you cannot obtain insurance coverage for it. This rule helps ensure that insurance is being used properly and isn’t misused for properties in which the insured has no ownership claims or interests.