FAQs
Your renters insurance generally won't cover your roommates' things unless they're related to you or their names are listed on your policy. Unrelated roommates should generally buy their own renters insurance.
Should all roommates get separate renters insurance? ›
Does each roommate 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.
Is a good idea to add your roommate on to your renters insurance as you will save money? ›
Splitting Costs and Sharing Coverage
One way to save money on renters insurance is by sharing a policy with your roommates. However, not all insurance companies allow sharing among unrelated individuals, though, so check with your agent before choosing a policy.
Does renters insurance cover roommate theft? ›
If you live with a roommate and they are the one who steals your belongings, your renters insurance policy is unfortunately unlikely to cover this.
Does my renters insurance cover my partner? ›
Your household insurance policy (aka, your renters or homeowners policy) covers losses suffered by everyone living in your home and related to you by marriage, blood, or adoption. That means your children, husband, wife, partner, parents, etc. … you get it.
How does renters insurance work with multiple tenants? ›
Renters insurance does not cover a roommate. The insurance policy is designed to protect the personal property and liability of the policyholder specifically. This means that unless your roommate is explicitly listed on your policy, they are not covered by your insurance.
Is it better to share renters insurance? ›
If you share a renters insurance policy, it may not protect you from your roommate. A shared policy may not be your best bet, according to personal finance publisher Kiplinger, when an accident or a dispute occurs and you end up needing legal protection from your roommate.
How to put multiple people on renters insurance? ›
Call your insurer to add your roommate to the policy and make sure both of you are also named on the lease. And before you sign the paperwork, have a clear discussion with your roommate about expectations so you're both on the same page.
Can you have two renters insurance policies at once? ›
Technically, it is always possible for you to get two renter policies, especially if you go through different carriers. However, doing so is typically not worth it for most tenants.
Can I add a roommate to my lemonade renters insurance? ›
Some insurance companies—including Lemonade! —only allow you to add additional people to your policy if you're related to the particular person (meaning they're your brother, mother, spouse, or so on). While you may love and adore your non-related roommates, you won't be able to share renters insurance in this case.
We're glad you asked! Lemonade's renters insurance is available in 28 states plus Washington, D.C., and we're still growing. Check out the availability of our renters insurance and other products.
What to do if your roommate steals? ›
You should cooperate with the police, but you don't have to say anything that could incriminate yourself. It's important to remember that you are not responsible for your roommate's actions. You are not likely to be charged unless you helped steal.
Does renters insurance cover dog bites? ›
Yes, renters insurance typically covers dog bites, unless your dog is on the restricted breeds list or has previously bitten someone. Renters insurance is a good idea for most dog owners, because it covers dog bites and other damage your pet might cause.
How does renters insurance work with a roommate? ›
Does each roommate need renters insurance? Does renters insurance cover all roommates? Your renters insurance generally won't cover your roommates' things unless they're related to you or their names are listed on your policy. Unrelated roommates should generally buy their own renters insurance.
Why do landlords want you to have renters insurance? ›
Without a renters policy in place, damage or injury from a gathering gone wrong could be your responsibility. Renters insurance can help protect a landlord against tenant negligence. Tenant negligence can take many forms, ranging from a kitchen fire while cooking to water damage from an overflowing tub.
Does it matter whose name is on house insurance? ›
When you buy homeowners insurance, any person or entity with a financial stake in the property being covered should be named on the policy. That way, if something happens and the property is damaged or destroyed, anyone with an insurable interest can receive compensation for their loss from the insurer.
Should roommates split rent equally? ›
The simplest solution for many situations is to divide rent equally. For example, if everyone living in the apartment is okay with some bedrooms being bigger and sharing bathrooms, it is possible to share rent this way.