Brock Insurance Group, LLC

820 S. Friendswood Dr.Suite 103,
Friendswood, TX 77546

mobile-mapGet Directions

Home Insurance Considerations When Sharing a Home

Home sharing is becoming more popular because it is now more difficult for one person or a family to be able to earn enough to buy a home. Rather than wasting money on rent, which helps the landlord get rich, millennials are teaming up to buy a house together. Homeowners may want to use a spare room in a home that they already own to rent it out to help pay the bills.

Multigenerational Housing

A huge trend is for multiple generations of families to live together in one big home. Part of this trend comes from children who do not move out of their family home when they become adults. Another part of this same trend comes from elderly parents moving back in with their children who are middle-aged adults.

This is a more economical way to take care of parents than trying to pay the expensive monthly cost of them being in an assisted-living facility. The median price of assisted living is $4,000 per month, as reported by the Genworth Cost of Care Survey 2018. That is a lot of money, which could go to make a mortgage payment instead.

Insurance Concerns for Shared Living

The main thing to worry about is if getting money from another person to share a home creates a commercial operation. If you are renting out a room, this is a business effort, and regular home insurance will likely have exemptions that do not cover this activity. Perhaps, the personal property of the renter needs to be insured separately under a renter’s insurance policy, and you will need to have commercial insurance.

Even the sharing of expenses for a home may be considered a commercial activity depending on whom the parties are. To avoid problems, consult with your agent at Brock Insurance Group, LLC serving Friendswood, TX, and the surrounding area.


Your agent at Brock Insurance Group, LLC in Friendswood, TX will conduct a home insurance review. Then, they will make suggestions about how to upgrade or change coverage to make sure you have adequate protection when sharing a home or renting out part of it to another person.

Contact your agent by calling our office to get a quote and for help with all of your home insurance needs.