Renter’s insurance protects your belongings and living space!
From the kitchen to the living room to your favorite sweater, most roommates share everything. Roommates are often the siblings you never asked for (or got), but there’s a mutual likeness when sharing a living space with another human being day in and day out.
Whether you watch reruns of The Voice together every night, or stay in your room to avoid awkward small chat, many roommates think that if one of you has renter’s insurance, the coverage extends to the entire apartment and all of the contents.
This is a costly misconception. Renter’s insurance protects the property of the people listed on the policy. Unless your roommate is listed as an additional insured on your insurance policy (or is a domestic partner, spouse, or a member of your family), their things will not be covered.
Here’s the lowdown on renter’s insurance for roommates:
A roommate does ...