Who to List as a Named Insured on Your Homeowners Policy
When your living situation changes, it’s important to make sure your insurance still makes sense. A big first step is confirming that you have the correct person or people listed on your homeowners policy! The most common practice is to match the home insurance to the home deed.
Those listed on your home insurance, known as the named insured, have the power to make changes to the policy, cancel it, or make a claim. However, the homeowners insurance coverage extends beyond those named on the policy. Let’s take a look at other ways to include the members of your household.
>> RELATED READING: How to Read Homeowners Insurance Quotes
Not Everyone Needs to be Listed to be Covered
Although you most likely want all household members to benefit from your homeowners insurance, not everyone needs to be listed to be covered! If the policy lists one household member as the named insured, anyone in the household who is related to that person through marriage, adoption or blood is covered under that policy. This also extends to anyone under the care of the named insured, such as a foster child.
Other Ways to Include Someone on Your Homeowners Insurance
For unmarried, cohabitating partners, there are other ways to make sure both partners are covered by the homeowners insurance policy. With an Other Members of the Household endorsem*nt, the second person will receive the same coverage as the named insured. There is also an Additional Insured endorsem*nt that would allow the partner more specific coverage under the homeowners policy.
Either of these endorsem*nts can also be used to grant someone the ability to make claims. However, the power to cancel or change a policy is typically reserved for the named insured. The best way to add the second person to the policy varies depending on the insurance carrier, so consult an agent before deciding what’s right for you.
>> RELATED READING: Additional Insured vs Additional Interest
Ask an Expert Who to Name on Your Insurance Policy
Every situation is unique, and it’s vital to get an insurance policy that suits you and your needs. To clear up any confusion about who needs to be listed on your homeowners insurance, ask an expert! At TGS Insurance, our team of licensed agents is here to help you secure the right insurance at the right price. Get started with a free, instant quote to get in touch with an expert today.
