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19411028_MDo you have more people living in your home these days? Over the last several years, many people have added roommates to help pay the bills or had their adult children move back home. If other people have moved into your home, you may need to make some changes to your insurance coverage. Here are the two policies that may be most affected:

Auto insurance. If you lend your car to someone else and they get into an accident, your insurance will cover it. However, as the policyholder, that accident will go on your insurance record. Be cautious about who you lend your vehicle to and make sure your insurance company knows about any regular drivers of your vehicles.

Homeowner’s insurance. You’ll want to let your insurance company know if you are renting out your home — or a portion of your home – to someone else. That way, you’re adequately covered in the event your renter is injured on your property. Standard homeowner’s policies do not cover rental activities.