Insurance, Conservative By Nature

If you ever dreamed of being a time-traveler, one way to simulate the experience of going back in history is to read an insurance policy. Policies are written so conservatively that they still reflect situations that existed prominently decades ago. One example is the way that policies define the persons it insures. Most policies are designed to cover:

• single individuals
• traditional married couples
• traditional family - husband, wife, children.

Policies also make allowances under all three of the above situations to cover relatives who live in the same household. However, when two or more unrelated individuals live in the same home, apartment, or condo and/or share the use of the same vehicle(s), the coverage situation becomes confused. Depending upon the policy wording or according to a company's underwriting rules, coverage for an unrelated person may either be limited or may not exist.

It Doesn't Have To Get Personal, Does It?

Not at all. Situations involving persons living together who aren't related by law or by blood may have a romantic origin, be based on a platonic relationship or may be due to economic reasons. Why one or more unrelated persons are together is their business; the important consideration is, how are their insurance needs met?

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