I'm living in my cousin’s basement suite. If something happens to the house, my stereo and furniture are covered under his house insurance, right?
WRONG! Roommates, or significant others that don’t qualify under the definition of ‘spouse’, may not be covered for their contents unless they are added to the policy. Only the named insured, who has a financial interest in the contents, is protected by the policy. If you rent a room in someone’s house, their homeowners policy does not cover your possessions.
