Do You Know Who is Covered under Your Home Insurance Policy?
Who IS covered under my home insurance policy?
When you purchase home insurance, there are three basic types of coverage that are typically included in the policy: property insurance that covers your home and other structures, personal property insurance that covers any personal belongings within your home, and liability insurance that covers any bodily harm or property damage caused by elements of the property.
While all of these types of coverage are included in your basic home insurance policy, they do not necessarily apply to every resident, guest or visitor in your home. In fact, the level of coverage for each member of your household can vary greatly. In order to understand how much coverage you, your family, and visitors have, please review the following list:
- Named Insured and spouse residing in the home: When you purchase a home insurance policy, you will be listed as the “named insured”, meaning that your name is on the policy. The named insured is almost always the owner of the property. The named insured has the most coverage, and is able to take advantage of property insurance, personal property insurance, and liability insurance.
- Children of the Named Insured: Children of the named insured, regardless of age, will have coverage for their personal property and liability, as long as they are still living at home.
- Invited Visitors: invited guests and visitors will usually be covered by personal property insurance. However, this coverage is not available in every policy, so be sure to check with your broker at TMIB to make sure your policy covers visitors.
- Tenants: Please note, tenants are NOT generally covered by your home insurance policy. Tenants will have to purchase their own renter’s insurance policy to ensure that they are covered.
This is not a complete list of policy details or coverages, please speak to your broker at TMIB for additional information. Please call us at 310-828-9662.