Who is insured under my home policy?

Congratulations! You just bought your first home insurance policy! You can sigh with relief now that you and your closest are covered if/and when disaster strikes. But who exactly does my policy cover? Here, we cut through the myths to tell you who falls under your home policy and who needs to BYOI (bring your own insurance).

Your Spouse
The simple answer is YES! Along with you, your husband or wife and all their contents would also be covered. High five!

Okay, so I’m not married…
Don’t fret, even if you have commitment issues, your insurance company won’t. Your common law would still be covered, given that you have been continuously living together for a period of two (2) years or if they are the natural or adoptive parents of a child for a period of one (1) year or longer.

Speaking of Children
As bad as you want that brand new drum set from Uncle Steve to disappear, you and your children’s belongings would be covered as well. What about my adult children? Your adult children (over 18 years old) that do not live with you, would not be covered UNLESS they are a student attending school and residing away from your dwelling, dependent on you or your spouse for support.

The Neighbour’s Children
Are they always over? Yes. Are they covered? No. If you happen to have more than a couple of children over every day, for example, in a daycare setting, please make sure your insurance company knows this and that you have adequate insurance to cover everyone involved. Most basic home policies do not cover home run businesses! You heard it here first…

Grandma & Grandpa/Oma and Opa/ Nonna & Nonno
So, your parents have decided to move in for a few months while their kitchen is being renovated. Awesome (insert fake smile). Any relative of you or your spouse living in your home or anyone under the care of you or your spouse is covered. Also, any spouse, mother, father, grandparent, or child of you or your spouse while residing away from your dwelling in an approved nursing or care home is also covered.

My Dog, Chew Barka
You might treat him like a human and he might even think he is an actual person. Unfortunately, Chew Barka is an animal and it’s impossible to predict or control their actions all the time – even if he’s the best boy ever. Chew Barka’s toys would be covered such as his diamond-studded water dish and his favourite Yoda squeaky toy. Most likely, your home insurance policy would have liability coverage if your dog bites someone, hurts another dog, or damages someone else’s property. *Note, some insurers have exceptions for high-risk dogs in which case you would be under strict liability*

Check your specific home policy wording or ask your licensed insurance broker for the details.

There you have it. But just like your pants after the Christmas holidays, one size does not fit all. The same is true for insurance policies. If you have any doubts about your coverage, reach out to your insurance provider to set your mind at ease. And if you just aren’t getting anywhere with them contact us. You can easily schedule a call with us today. It’s that easy.

January 25, 2021