Eagle Eye Contents — Summer 2007

Insurance polices have been and are currently designed for husbands and wives residing in the same households.

In today’s society, there are many different types of living arrangements that can have a significant impact on insurance coverage, that if not understood and treated properly by the personal auto policy may leaves gaps in coverage should a loss occur.

Some examples of situations that may occur with vehicle
ownership that need to be reviewed are;

• Individuals who are related by blood or marriage other than spouses
• Individuals who are not related
• Individuals who are related by blood or marriage including spouses who are not residing in the same household.

Additionally it is important to remember that ownership and financial interests are 2 separate issues. A parent may help a child buy a car by co-signing for a loan or actually loaning money to the child, the car could be registered in both names or in the child’s alone, but either case will present specific insurance considerations.

It is very important for us as your agent to know about any ownership arrangements of vehicles that are not by husbands and wives residing full time in the same house.