"If you have a three-bedroom home and move in three or four people, we won't write a homeowners policy," says Wendy Blitstein, director of underwriting at Security First.[
Instead Security First
will require you to get a dwelling fire insurance policy, which covers specific things like damage from fire or lightning strikes, but won't cover you in case of a theft, she
Protection from theft and other types of losses will have to be purchased in separate policies.
What if you only have one person move into your home?
In that case, it probably won't affect your home insurance, Blitstein
Without such insurance, "a roommate should not assume that there is any coverage at all," Blitstein
Unlike homeowners insurance, the person living with you would be covered under your auto insurance policy if he
occasionally borrows your car and gets into an accident.