INDIANAPOLIS – Sometimes the empty nest doesn't stay empty. In fact, according to the Pew Research Center, the number of Americans living in multigenerational households has doubled since 1980. Baby boomers supporting their parents and their college graduates returning home are among the more than 50 million Americans living in multigenerational homes. These modern families have unique concerns when it comes to home, health, auto and life insurance.
“The challeges of living in a multigenerational household can be considerable.” said Indiana Department of Insurance Commissioner Stephen W. Robertson. “Make sure you contact your insurance agent when your living arrangements change so they can help you determine if you are covered in all areas.”
Household Concerns
When you experience change in your household status, contact your insurer or insurance agent to let them know about the new arrangement. It may be a good time to shop around to make sure you are getting the right coverage for the best price.
Home Insurance
Visit the Indiana Department of Insurance’s Property Insurance web page for detailed information about a homeowners insurance policy.
Health Insurance
For information about health insurance options, visit in.gov/healthcarereform.
If an older relative approaching age 65 is moving in with you, he/she will most likely qualify for Medicare. To learn more about Medicare, visit the official U.S. government site for Medicare. If an older parent or relative is moving in due to health concerns, you may want to check to see if they have a Long Term Care insurance policy. For more information about Long Term Care insurance, visit in.gov/iltcp/.
Auto Insurance
To learn more about auto insurance, visit the Indiana Department of Insurance’s Auto Insurance web page.
Life Insurance
To learn the basics about life insurance, visit the Indiana Department of Insurance’s Life Insurance web page.
More Information
For more information about home, health, auto or life, visit Insure U.
