Who needs to be listed on my car insurance?

Who needs to be on my car insurance as a driver

Everyone who drives the car should be on your car insurance policy as a driver, as well as everyone that drives your car regularly should be on your car insurance as a driver. 

Everyone that lives in your household should be listed on the car insurance policy  as a driver or as an excluded driver(meaning a non driver). All household members have to be listed if they are over the age of 16 because they have access to the vehicle to use as transportation, even if they are not licensed they are of age and physically could operate the vehicle so they have to be listed as a non driver on the insurance policy until their driving status changes to an actual operator.  You list them as excluded on the car insurance if they do not drive the car at all, or do not have a license which means that they have no coverage if they actually would drive your car and cause an accident. 

Here is an excerpt from a carrier describing who should be listed on the car insurance policy;

 “You must list yourself, your spouse and any person who drives any vehicle on this policy regardless of whether that person lives with you. Please include any relative who resides in your home, is of legal driving age or has a permit even if he or she doesn't drive any vehicles. Also, please include any child who lives away from home and drives a vehicle on this policy, even if only occasionally.”

Why must everyone that drives must be listed, not just the owner of the car?

Insurance pricing is based on your risk profile. The likelihood of you having a claim. As your likelihood increases or decreases then your insurance can increase or decrease. 

If a driver you know is driving will severely impact the rate; young driver or driver with prior accidents and tickets. And materially withholding that information can result in legal action by the insurance carrier. 

It is better to protect yourself and A. not let anyone drive your car or B. Add all drivers to your policy. That way you have a clear conscience on making sure your car is properly protected in any circumstance. 

Homeowner Insurance MUSTS when you are buying your first home!

OK OK the excitement is too much to handle!! You are buying your first HOME! All of the paperwork required by the bank, the interest rates and the confusing closing costs sheet. So much to do and the only thing you can think of is what color to paint your new living room! 

You are creating your family legacy; settling down in your first home. Giving your kids a solid ground of where you stay and you creating generational wealth in the meantime! 

This. Is. Exciting!

Congrats! The best thing you can do for your family is buy your own home! 

As you fumble through all the bank requirements, realtors, lenders...close to the end of closing you have to find your homeowners insurance! 

With everything going on it's hard to concentrate and make sure you make the right decision. 

You know how many people tell me they do not know who their homeowner insurance provider is?

One thing for sure you have to make sure you have these coverages;

1. Water and sewer back up - this is essentially coverage if your drains back up into the house. This has happened when sump pumps fail, or when lines are too clogged. Essentially water gets into the basement of your home and ruins everything in its path. I have seen this happen more often than any other claim. So it is very important you get this endorsement on the policy.

2. Loss of Use (what the heck does this even mean!) If there is a claim at your house and you cannot stay there due to a lot of damage and or construction; the insurance company will help lodge you. Finding and assisting with lodgings during a claim to help keep you and your family safe like nothing happened. 

3. Service Line Coverage - This covers underground utility lines. Example; Your sewer line breaks from the house to the muncipality tie in! You have to replace the line and also in the meantime no operation on the plumbing.

4. Please Please Please do NOT skimp on your Liability coverage! IF you were quoted at $100,000 or $300,000 in liability for just a small amount more in premium you can have $500,000 or even a million in liability coverages which is a much more comprehensive policy.

If you are purchasing a home for the first time make sure you get these insurance MUST HAVES! It is such a scary but rewarding process going through all of the first time home buying steps, between appraisal and inspections please make sure you do not forget to take time to review your new home owners insurance policy!