Who lives in your home? That sounds like a U.S. Census question, but it’s also an insurance issue.
Today, an estimated 18% of U.S. households are multi-generational. That means more than one generation, such as adult siblings, adult children, and/or grandparents, live together under one roof.
According to the NAR 2025 Home Buyers and Sellers Generational Trends Report, 21% of Gen X buyers (ages 45-59),15% of younger boomers (ages 60-69), and 12% of older millennials (ages 35-44) purchased multigenerational homes in 2024.
Financial stability, student loans and difficulty in finding well-paying jobs often keep adult children living with parents, or in some cases, moving back home. Older millennials – AKA the Sandwich Generation – may find themselves juggling responsibilities of both younger children and aging parents, welcoming their parents into their home (or vice versa) so they can provide or share caregiving responsibilities.
And while many of these moving arrangements are need-based, 32% of older millennials say they bought their homes because they want to spend more time with their aging parents.
Like any change in household dynamics – birth, adoption, marriage, divorce, going to college – a multigenerational living situation warrants an insurance review to determine that proper coverage and liability are in force. Some insurance considerations for multi-generational households:
· Are your personal liability limits high enough in the event of injury or lawsuits?
· Do your parents/adult children have possessions like jewelry, art or collectibles that are not covered by your homeowners policy?
· Have you renovated your home or added a structure to extend your living space?
· Does anyone in your family need life insurance?
· Will there be additional drivers or vehicles tied to your address?
· Does anyone in your home pay rent?
If you have new residents living under your roof, it’s important to talk with your trusted Howard Hanna Insurance advisor. We’ll make sure you have the right coverage in place to take care of everyone who calls your house their home.
Howard Hanna Real Estate Services proudly provides real estate, mortgage, title, and insurance services across 14 states. As the largest family-owned and -operated real estate brokerage in the United States, Howard Hanna operates more than 500 offices with 15,000 sales associates and staff. Recognized as the most innovative brokerage, Howard Hanna provides solution-based programs and platforms to empower their agents to provide more resources for homebuyers and home sellers, resulting in their agents achieving a sales success rate that is 53% higher than agents at the top 1000 brokerages nationally. Since 1957, Howard Hanna has helped agents build the skills and experience needed to thrive in the ever-changing landscape of real estate. Learn more at www.HowardHanna.com.
