Roommates and Renter’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.
  2.  A maximum of two unrelated people can be on a single policy, so additional roommates will need to buy a separate policy.
  3.  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.
  4.   Stealing bya roommate—or deliberate destruction—is not covered by insurance, whether they’re on the policy or not.
  5. 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!


Leave a Reply

Your email address will not be published. Required fields are marked *