My Child is Moving Back Home…Now What?
Many of us aspire to save money in the New Year. In fact, it’s probably one of the most popular resolutions. Whether it is just after college or later in life more and more people are choosing moving back in with their parents over paying rent. If your child is looking to save money by moving back in there may be updates you should make to your Massachusetts home and auto insurance.
The first thing to consider is that there will be more “stuff” in your house when they move back in. This may mean that they need extra coverage for any valuable items. You may need to increase the amount of personal property coverage you have on your MA home insurance, condo insurance, or renters insurance.
Another thing to consider is if your son or daughter is bringing along a pet, make sure the pet isn’t excluded on your homeowner’s policy. Call your agent to be sure the breed is not one that your insurance carrier will not insure. You don’t want to find out after something happens you could be denied coverage due to the dog.
On your Massachusetts auto policy, you want to make sure to add them as a driver. The insurance company requires that you list all household members and regular operators of your vehicles. Lying could result in your claim is denied if a loss were to occur, the insurance company could retroactively charge you the correct rate before they paid out on the claim or your policy being canceled if the insurance company were to find out.
Give us a call at 888.865.1244 if your son or daughter is moving back in to make the necessary changes to your home and auto insurance policies.Read More