5 Things to Know About Adding a Roommate to Your GEICO Policy

5 Things to Know About Adding a Roommate to Your GEICO Policy

Moving in with a roommate can be an exciting time—you get to share expenses, have someone to talk to and split household chores. But have you thought about your car insurance policy? If you’re considering adding a roommate to your GEICO policy, here are five things you need to know.

1. The Policyholder Must Consent

Before you can add someone to your car insurance policy, you need to make sure they have your consent. As the main policyholder, you have the right to decide who is covered under your policy. This means you need to discuss it with your roommate and make sure they are comfortable being added to your policy.

2. They Must Have a Valid License

To be added to your policy, your roommate must have a valid driver’s license. This seems like common sense, but it’s important to mention. If they don’t have a license, they cannot legally drive your car and therefore should not be added to your policy.

3. They’ll Affect Your Premiums

Adding a roommate to your policy will impact your premiums, either positively or negatively. If your roommate has a good driving record and is a responsible driver, your premiums may go down. However, if they have a bad driving record or a history of accidents, your premiums may go up. It’s important to discuss this with your roommate before making a decision.

4. They Need to Be Listed on the Policy

Once you decide to add your roommate to your car insurance policy, they need to be listed on the policy document. This means providing their full name, date of birth, and driver’s license number. Failure to do so could result in denied claims or even canceled insurance policies.

5. You’ll Both Have Access to Policy Information

As a policyholder, you’ll receive updates on any changes to your policy. When you add a roommate to your car insurance policy, they’ll also have access to this information. This means they’ll be updated on any changes made to the policy, including premium increases or decreases.

In conclusion, adding a roommate to your GEICO policy requires careful consideration. You need to make sure both you and your roommate are comfortable with the decision, and that they meet all the necessary requirements. Nonetheless, if done correctly, you can save on car insurance premiums and have peace of mind knowing your roommate is covered.

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