Things to consider as renter’s and roommate’s

For around 20 bucks a month, a basic renter’s insurance policy can be a monetary lifesaver in case of fire or theft, as well as at least a dozen other circumstances that may transpire you and/or your roommate…ranging from power surges that annihilate your appliances, to accidental flooding, entertainment mishaps and even lost luggage.
Unlike immediate family members who live together, nonetheless, a roommate isn’t routinely covered unless they’re actually listed on the policy.


Here’s the down-low on renters’ insurance for roommates:

  1.  A roommate does not have to be on the lease to be added to the policy.

  3.  A maximum of two unrelated people can be on a single policy, so additional roommates will need to buy a separate policy.

  5.  There’s no extra charge to add a roommate, and it won’t change your premium either. You may want to increase your coverage if you have a lot of valuables, but you’ll still probably pay less than you would alone since you get to split the cost.

  7.   Stealing a roommate—or deliberate destruction—is not covered by insurance, whether they’re on the policy or not.

  9. If you ever file a claim, the check will be made out to both roommates—meaning even if the money covers damage to your belongings only, not your roommate’s, your roommate will still need to co-sign it.   Moral of the story: Make sure you’re on good terms with the person capable of holding your claim check hostage

Feel free to call Insurance Professional of Arizona for a FREE renter’s quote!

IPA Team

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