Moving in with my significant other. What about insurance?

In the past, cohabiting couples often faced difficulties when searching for insurance. Unmarried couples often had to go to great lengths to find an insurance company willing to provide coverage. However, this is no longer the case. Many companies now have no issues with offering policies to unmarried couples living together, and in fact, some even offer attractive rates for those who want to insure together with their partners, roommates, friends, or colleagues. It's worth noting that the process of obtaining coverage as an unmarried couple may differ from that of a married couple, depending on the type of insurance. The following guide will assist you in avoiding any surprises when purchasing insurance with a significant other.

Auto Insurance

In the past, obtaining auto insurance with someone other than blood relatives or a spouse could be challenging. However, today it is a common practice. You have the option of obtaining two separate policies or including all household members on one policy, with some as excluded drivers. Some insurance companies may still require all household members to be listed on the policy even if they are excluded drivers.

To simplify the process and avoid additional policy endorsements, you may consider getting a policy that lists all household members as rated drivers. Many companies have no problem including your significant other, work or school colleague, or friend on your auto policy. This approach could also lead to additional savings, such as a multi-vehicle discount if each household member owns a car.

It's always a good idea to compare offers from different companies. If you're unsure if a company would be willing to cover you and your significant other, it's best to contact the company directly or consult a licensed insurance agent for guidance.

Homeowner's Insurance

Obtaining homeowners insurance for unmarried couples can be complicated. Homeowners insurance protects your house and personal belongings from damage or loss due to fires, flooding, vandalism, or other destructive events. Different insurance companies handle insuring unmarried couples differently.

If one partner is the sole owner of the property, their homeowner's policy will typically cover the building itself and their personal belongings, but it may not cover the personal belongings of the significant other living in the same house. It's worth checking with your insurer or agent to see if your policy proactively covers your significant other.

If this is not the case, your partner may need to be added as an additional/named insured on the policy in order to have their personal belongings covered.

Another option is for your partner to get a separate renters' policy, although this may not be as cost-effective.

If both partners are listed on the property deed, there are many companies that will write a joint policy, even if you are not married. In this case, you should have no problem obtaining coverage and sharing insurance costs on the same policy, as you are both rightful owners of the property.

Renters Insurance

As an unmarried couple, you may choose to rent an apartment together. This may be a temporary arrangement, while you get to know each other before making a long-term commitment, while you save up for a mortgage, or simply because you prefer the flexibility of renting.

Renters insurance is designed to protect your personal property, rather than covering the building itself. As a result, it can be easier to obtain a joint policy with your significant other.

The rates for renters insurance are based on various factors, including the condition of the building, the location of the apartment, and the level of maintenance provided by the landlord. Factors like living in certain areas that may have higher risk of damage, vandalism, or theft, may affect the rate of the insurance.

What's best for me?

You may be wondering how to find the best price for insurance from different companies without spending hours making calls. The solution is simple! Work with a professional. Licensed insurance agents can help you find the best options for your specific situation.

At Luna, our licensed insurance agents have access to over 40 insurance companies to find the best prices for tailored coverage. Obtaining quotes takes only a few minutes with their assistance.