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Kids moved back in? Added a roommate? Time for an insurance checkup

Posted on: Thursday, September 21st, 2017

Do you have more people living in your home these days? Over the last several years, many people have added roommates to help pay the bills or had their adult children move back home. If other people have moved into your home, you may need to make some changes to your insurance coverage. Here are the two policies that may be most affected:

Auto insurance. If you lend your car to someone else and they get into an accident, your insurance will cover it. However, as the policyholder, that accident will go on your insurance record. Be cautious about who you lend your vehicle to and make sure your insurance company knows about any regular drivers of your vehicles.

Homeowner’s insurance. You’ll want to let your insurance company know if you are renting out your home — or a portion of your home – to someone else. That way, you’re adequately covered in the event your renter is injured on your property. Standard homeowner’s policies do not cover rental activities.

Jennifer Rudy

Personal Lines Manager at Allied Insurance Managers
Jennifer has over 10 years of experience in the insurance industry.She takes pride in building long lasting relationships with customers and enjoys helping customer evaluate their coverage needs.
Allied Insurance Managers, INC.