Not that long ago, individuals who cohabited were often disadvantaged when shopping for insurance. Very often, unmarried couples had to go above and beyond in order to find an insurance provider who would insure them. This is no longer the case. These days, many insurers are willing to insure cohabiting couples.
There has been a recent trend in companies to offer policies for unmarried couples living together. This is often done in an effort to attract more customers, and many companies offer very attractive rates for people wanting to insure together with their significant other, roommates, friends, or work/school colleagues.
When looking to purchase insurance together, it is important to be aware of any small print. Depending on the type of insurance being purchased, the way you go about getting coverage might differ from how a married couple would go about getting the same coverage.
To help avoid any surprises, we have compiled a short guide on how to buy insurance together with your significant other.
Remember, always consult with an insurance agent or broker for personalized advice tailored specifically to your needs. You can compare your rates quickly with an agent from our team at Portland Insurance.
Auto Insurance for Unmarried Couples
Getting auto insurance with someone other than blood relatives or your spouse used to be a real hassle in the past. But now, it’s not an issue at all. There are a variety of different options available, and most companies require only one household member to be listed on the policy – even if they’re just an excluded driver. An excluded driver is somebody who is listed on your document but isn’t covered by your policy.
There are numerous companies that will list any member of your household as a rated driver on your auto policy. This way, you can avoid having to go through the additional policy endorsements to add the excluded drivers on each policy accordingly. Whether you have a spouse, a child, or a friend who is always driving around, getting comprehensive coverage is important.
Many people choose to get their own separate vehicle insurance policy in order to save money. However, there are often multi-vehicle discounts available if each of you owns a vehicle. This might not be the case if each of you decided to get your own separate policy.
Always be sure to shop around for the best deals when it comes to insurance. If you are not sure whether a company would cover both you and your significant other, it is best to contact them directly or consult with a licensed insurance agent.
Home Insurance for Couples Living Together
Homeowners’ insurance can get tricky when it comes to covering unmarried couples. Property and private property is covered, but different insurance companies can go about insuring unmarried couples in different ways. Some might insure the property, while others might only insure your private property rights.
If you are the sole owner of the property, your home insurance will typically cover your personal belongings and contents. However, this may not always be the case if your significant other is living under the same roof. You might need to check with your insurer or agent to see if they pro-actively cover your significant other’s belongings. If not, they may require you to add your partner as an additional named insured on the policy.
One way of ensuring both of you are covered is getting a renters’ policy for your partner, although this might not be as cost-efficient.
If you are both on the deed to a property, there is no problem getting coverage and sharing the insurance costs on the same policy. Considering both of you are rightful owners of the property, there should be no problem with obtaining coverage and sharing the insurance costs together.
Renter’s Insurance for Unmarried Couples
Living together can be a really fun experience, especially if you and your partner are still looking to take things slow. When it comes to finding an apartment, however, sometimes the best option is to rent together. This way you don’t have to worry about finances or location too much – and you can get to know each other better while living in the same space!
Instead of covering the landlord, or property owner, a renters insurance policy is designed to protect your personal property as the renter and is much easier to obtain for a couple living together.
Renter’s insurance can help protect your home or property from damage or theft.
Rates are determined by many factors, like the condition of the building, the area you live in (living in certain zip-codes might statistically impose a greater risk of damage, vandalism, or theft), and how well the property is maintained by the landlord.
Which Insurance Policies Should My Partner and I Choose?
If you’re looking for a solution that won’t require hours of research and phone calls, reaching out to a professional can be the best option. Licensed insurance agents are experts in the field and can help you choose the best coverage for your situation.
At Portland Insurance, our licensed agents consult with many different insurance companies, to find you the best plans for your needs.
You can quickly compare rates in just a few minutes with our team of agents at Portland Insurance. We are excited to help you and looking forward to helping you find the best insurance coverage for you and your partner.
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