Do you have more people living in your home these days? Over the last several years, many people have added roommates to help pay the bills or had their adult children move back home.  If other people have moved into your home, you may need to make some changes in your insurance coverage. Here are the policies that will be most affected:

Auto insurance. If you lend your car to someone else and they get into an accident, your insurance will cover it. However, as the policyholder, that accident will go on your insurance record. Be cautious about who you lend your vehicle to and make sure your insurance company knows about any regular drivers of your vehicles.

Homeowner’s insurance. You’ll want to let your insurance company know if you are renting out your home – or a portion of your home – to someone else. That way, you’re adequately covered in the event your renter is injured on your property. Standard homeowner’s policies do not cover rental activities.

Renter’s insurance. If you’re renting a property with someone else who you aren’t married to, check with your insurance company to see if one policy will cover both of your belongings, or if you should get separate policies to cover your belongings in the event of theft or other losses.

For more information about your insurance options, check out this story.