Does homeowners insurance typically cover the belongings of non-relative residents?
Friday, September 11th, 2009 at
5:02 pm
tt asked:
If I have someone live with me, will my insurance cover their belongings at the same level as mine? I know there may be special clauses in insurance contracts, but in general any assistance would be great!
If I have someone live with me, will my insurance cover their belongings at the same level as mine? I know there may be special clauses in insurance contracts, but in general any assistance would be great!
Tagged with: Homeowners Insurance • Insurance • Insurance Contracts
Filed under: Homeowners Insurance
Like this post? Subscribe to my RSS feed and get loads more!
Only if the person is listed as a named insured on the policy. Most policies will allow $500 for the property of others in your care, custody or control.
The standard homeowners policy defines an insured as a person related to you by blood or marriage who is a resident of your household. So boyfriend/girlfrieds who live together do NOT qualify as insureds. The boyfriend/girlfriend needs to be specifically listed as an insured on the policy.
The person who lives with you will need to do 1 of two things to get coverage.
1. have you call and name them as a named insured on your policy
or
2. call an insurance agent and purchase a renters policy to cover their property.
My two cents- if the person living with you is a significant other – go ahead and do option 1. If the person living with you is a room mate – option 2.
If this person is your lover then yes but if not then they need their own insurance.
The standard HO3 homeowners policy specifically does NOT cover any belongings of anyone who lives there, who isn’t related to you.
Typically, that’s boyfriend/girlfriend, fiance, renter, best friend, whomever. If they aren’t a close relative (parent, sibling, child, sometimes grandparent), they need to buy a renters policy to get coverage for their own stuff.
No, it will not unless they are named on the policy. They are expected to get their own coverage. Talk to your insurance agent and see if you can add a rider as I think this is becoming more common with so many unmarried couples.