Can I add a roommate to my renters insurance policy?
Assuming your state and insurance provider allows it, you may add a roommate to your policy. Verify with your insurer if this is allowed by your insurance company as some won't allow adding an additional insured who isn't the spouse or a resident relative. Also, keep in mind that any claim your roommate files may appear on your insurance claims history.
For insurance purposes, unmarried couples, domestic partners, and friends may all be considered roommates.
Does everyone in an apartment need renters insurance?
Many insurance companies will require roommates to have their own separate renters insurance policy rather than allowing roommates to be on a policy together. If your landlord doesn't mandate renters insurance, you and your roommates aren't required to carry a policy. Learn more about how renters insurance works.
What are the downsides of getting renters insurance with roommates?
The reasons why you may want to avoid adding roommates on renters insurance policies include issues like these:
- You'll have to adjust your policy every time you change roommates.
- If there's a dispute or falling out between you and your roommate(s), that could complicate any insurance claims filed or under consideration.
- If your roommate(s) suffers a covered loss on your policy, you both will have the claim on your records, and your insurance rates could be higher in the future as a result.