Moving in together? What about insurance?

Moving in together?

When you decide to take the big step and leave home, remember that you will also need to consider taking out your own insurance.

When you become financially independent most insurers will no longer provide cover for your assets on your parent’s policy. That’s because you are only able to insure items that you own, in other words, you cannot insure something that doesn’t belong to you.

If you decide to move into a commune or share an apartment with your significant other, it’s very important that you let your insurance company or broker know this fact.

Apio home insurance moving in together

Can we insure both our possessions on a single policy?

If you decide to take the plunge and move in with your partner, your insurer may view your relationship in the same way as they would a married couple. You could take out a policy that covers both of you, with one of you being the main policyholder, and the other person noted as an additional policyholder.

Bear in mind that if there is an increase in the sum insured, the policyholder takes the responsibility to pay the premium, and if there is a claim, the policyholder will be paid out. Make sure you are both comfortable with the financial arrangement.

Make sure that you are adequately covered if combining households

We suggest that you complete a contents valuation so that you can check if you are adequately covered for your combined items. Also, consider all the items that will be taken out of the house and maybe consider increasing your General Portable Possessions amount.

What if I move into a commune?

Each person will need to insure their own belongings. Some companies will not provide cover for communal living so please check with your insurer or broker that the correct cover has been arranged for you to avoid any problems at claims stage.

If you need any help arranging insurance cover or have any queries, please contact your Apio Key Account Manager