Can my parents buy my renter insurance policy through their auto insurance?
They are paying for my auto insurance policy current since I am a full time student, I have to get renter insurance for my new apartment, Should/Can my parents buy my renter insurance through their policy? They have their own property already. I just heard if you bundle your policies you can get a discount. What are some suggestion I can make to help my parents and my self out? Let me know thanks!
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Answer by Someone Else
Certainly, they can pay for it, but the "named insured" must be yourself.
Anytime you buy insurance, you must have an "insurable interest" in the property. Renters insurance covers your "contents," meaning all of your personal belongings, your clothes, your furniture, etc. This is stuff YOU OWN. So you must insure it.
Renters insurance also covers your LIABILITY, meaning the liability of the "named insured." Your parents already have liability coverage. You are the one who needs liability coverage, not them. So the policy must be in YOUR NAME.
The cost of renters insurance is only about $ 100 or $ 150 per year. It is cheap.
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50 Yardley Road, Acocks Green - Prudent House - Adler Insurance Brokers Ltd
Image by ell brown
This is 50 Yardley Road, opposite the Baptist Church on Yardley Road in Acocks Green. Also known as Prudent House. Currently occupied by Adler Insurance Brokers Ltd.
It is on the corner with Elmdon Road. Locally listed as Grade A.
Built for John Nicol by Essex, Nicol and Goodman, c. 1903. A detached residential property on corner plot, brick ground floor, render upper. Tile hanging to gables. Original ornate fenestration comprising leaded coloured glass. 2 ornate bays with buff terracotta dressings, square stone portico. Coach house converted to ground floor room. Stylistic mix of Arts and Crafts and Edwardian influences. To rear an addition c. 1980 of similar scale, massing and materials. Further alterations have been made.
Acocks Green locally listed
Close up look at the buff terracotta dressings.
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