It isn’t uncommon for couples to decide to move in together to see if their relationship will work before they take a step toward marriage. Sometimes, there are aspects of the move that you might not have thought about. Insurance coverage happens to be one of them. In years past, it could be quite complicated to move in with someone that you weren’t married to. However, in recent years, this has become something that is much more doable. InsureWise is here to talk about what insurance will look like when you decide to move in with your significant other.
Is it Cheaper to Get Insurance Together?
While the insurance coverage you get might still look a little different than it does for people who are married, it is a lot easier to do than it has been in the past. Different types of insurance are going to look different though. Here is a rundown of insurance policies you will need to think about when living with your significant other.
– Auto Insurance: Years back, when you attempted to get auto insurance with anyone that isn’t a blood relative or a spouse, it wasn’t an easy thing to do. You used to have to get auto insurance and have excluded drivers listed for your significant other. Gone are those days though. You can now have get a policy and list all of the household drivers listed as rated drivers on the policy. This could be your significant other, a friend or simply a colleague as a driver on your policy. This allows you to get a discount when you both have a car and are looking to have multiple cars covered. This wouldn’t be the case if you had decided to get your own separate policy.
– Homeowners Insurance: As far as homeowners insurance goes, this is trickier. If one of the partners owns the home, that doesn’t necessarily mean that belongings of the other person will be covered in the case that something happens and you have to file a claim. You might need to name them as an additional person on the policy so that they have coverage for their things. If you own the home together, many insurance companies are fine putting you both on the policy even when you aren’t married.
– Renters Insurance: If you can’t afford to purchase a home, many couples decide to rent while they save money for a mortgage. Renters insurance is in place to cover your belongings in the case of a problem like theft, fire, flood and any other disaster. It is simple to have two people put on the policy since it is in place to cover personal property.
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If you are looking for insurance coverage for you and your significant other, you can turn to InsureWise to help you find the right policy to give you the coverage that you need. Call us today or complete this quick online quote form.