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Why You Should Adjust Your Home Insurance When a Partner Moves In

By Teri Dormer

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Deciding to move in with someone is a major step in your relationship. While you might be tempted to jump right into deciding whose furniture to keep or how to navigate each other’s daily life habits, there are some logistical considerations, too. 

Sure, you have to decide how to split the living expenses and utilities, but what about the insurance coverage? It might seem like an afterthought, but if you’re moving in with someone who owns a home and you’re not married, sharing insurance is an important step in making sure you’re protected from damages, loss or theft. 

Not sure what an insurance merger looks like or when you need to adjust your coverage after moving in with someone else? Let’s take a closer look below.  

How Combined Insurance Works 

When you move in with someone you aren’t married to, home insurance coverage works differently than when you move in with a spouse. In either case, you can’t go without coverage! 

When you move in with your partner, you need combined insurance on the home you’re living in. The main homeowner should call the insurance company and determine if they can add the other partner as an occupant on the existing homeowners insurance policy.

If the couple is renting a home, they can either decide to both be on a single policy or get two separate renters insurance policies, but the former is the more formidable option.

Why Sharing Insurance Is Important 

Even if you don’t own the home you’ll be living in, home insurance covers your personal possessions in the event of damage or theft. If you move in without merging insurance plans and there’s a fire or a break-in, your partner’s insurance coverage won’t extend to your losses. 

Combined insurance isn’t just important for personal property coverage, either. Imagine your partner moves into your home and invites someone else over. If that person is injured while visiting and they decide to take their injuries

 to court, your liability coverage could be on the line for the accident, even if you weren’t involved.

Making sure both parties have personal property protection and liability coverage provides comprehensive protection from any number of loss scenarios. 

Named Insured vs Additional Insured 

Even if you’re not currently married, when you own a property with your partner, there are more benefits to going in on a “named insured” policy together rather than taking out an additional insured policy separately. 

A traditional homeowners insurance policy is considered a named insured policy, whereby multiple people can exist on the same premium because they have a shared ownership and legal responsibility to the property. Many insurance providers will issue a named insured policy to unmarried couples when both parties are owners of the property. 

If you and your partner own the home together, a named insured policy will also extend coverage to any relatives living in the home with you (including children or parents). In most cases, a single named insurance policy will be less expensive than taking out an additional insured policy (or renters insurance) for you or your partner. 

Sharing Insurance But Not Married 

In most cases, insurance companies will not provide a joint policy to two people who aren’t married, even if you’re engaged to be married soon. One common exception includes couples who own a home jointly but aren’t married. In this case, insurance companies will typically issue a combined policy. 

Having two homeowners insurance policies isn’t necessarily better than one. If you or your partner are living in a home where only one person is listed as the owner, you may not have a choice but to take out a second renters insurance premium for the unnamed person, which is often far more expensive than having a shared policy together. 

If you’re sharing insurance but not married, how you handle your premiums will likely be determined by the ownership of your home, but it’s always smart to shop around for the best prices and most comprehensive options for your situation.