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Live in relative-owned apt- Do I need renter's insurance or am I covered?

post #1 of 7
5/2/11 at 12:20pm
Thread Starter 
I live an apartment owned by my father.
I pay him rent.
He of course has his own homeowners insurance etc.

Would my belongings be covered under his policy if lost in a fire, etc?

Should I get my own separate renters policy, which then I would presume allow him to reduce the level of coverage he has for his polocy.
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post #2 of 7
5/2/11 at 12:41pm
Country? State? Insurance company? My gut says that you are not covered as a tennent, but as his son, you are. Basically if they can prove you pay rent. you will not be covered. If he can prove that you only pay him money for food (or something) and that actually you just live in his house, then you will be. Basically are your lawyers better than the insurance lawyers?
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post #3 of 7
5/2/11 at 1:37pm
My gut also says you are not covered. This is even more likely if the apartment is not at the same address as your father's house. Talk to your father and the agent who issued the policy.
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post #4 of 7
5/2/11 at 2:35pm
Quote:
Originally Posted by Sartorial1 View Post
My gut also says you are not covered. This is even more likely if the apartment is not at the same address as your father's house. Talk to your father and the agent who issued the policy.
Yes. I would not be comfortable making any decision without having verifying coverage with your father's agent. To Blackhood's point, while in college my apartment was burglarized and my parents' homeowners policy covered it. So it is possible, but speak to the agent.
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post #5 of 7
5/3/11 at 9:17pm
I certainly agree that you should speak to the agent, but in all probability (in my limited experience), you're not covered. It sounds as if you're living in a separate apartment? As in, not in the same house as your father? (Correct me if I'm wrong.) If he has an owners policy on a rental property, the insurance company will probably not even permit him to insure your stuff. They'll likely only insure the property in his name. This is all based on my conversations with my agent, but probably depends on state laws, too, of course, though. I own a home and have a renter. My agent advized me that the renter's stuff would not, and cannot, be covered by my policy. If we were living together, and it was listed as an owner occupied property, everything in it would be covered, according to my agent, but since it's listed as a renter occupied property, they won't permit me to insure anything contained therein, other than appliances and furniture that specifically belong to the house. I could, of course, just try to pass his stuff off as my stuff, but that's insurance fraud, and some people with bad suits and badges frown upon that.
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post #6 of 7
5/4/11 at 8:22am
Renters insurance is cheap enough just get it.
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post #7 of 7
5/4/11 at 10:57am
Thread Starter 
Okay, thanks for all the help guys.
I actually think I may be okay - since my name is on the title of the property, my agent tells me I am covered under the policy.
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