Renters Insurance Quotes Better Left Unshared

Everyone has been taught to share, but there are some things best left in isolation. While sharing renters insurance quotes with a roommate sounds like a cheap and easy solution, a recently published article on InsuranceAgents.com begs to differ.

“The amount of renters insurance coverage you will want depends on your individual needs but the universal answer to whether or not you and your roommates need to take out separate policies is a resounding ‘yes,’” the article, Renters Insurance Quotes and Roommates, stresses. “Your possessions will not be covered by your roommates’ policy and vice versa.”

Several insurance providers offer joint policies to their customers, but they are generally not recommended for a few reasons. First and foremost, an individual should only have to be responsible for their own things; otherwise, they can find themselves paying higher premiums because their roommate’s belongings were damaged or stolen.

The second reason, and one that many renters forget to think about, is that not all valuables are worth the same. If one roommate has a plethora of expensive jewelry that he/she wants insured, the other roommate will have to pay a higher premium as well.

“If you are the primary renter, then be sure to inform your roommate or roommates that their contents are not covered by your renters policy or by your landlord’s building policy and it would be a good idea for them to look into a policy of their own,” the article suggests. “Remind them that comparing renters insurance quotes online is a good way to find an affordable policy.”

Visit InsuranceAgents.com for more information on how to find affordable renters insurance quotes.

Staff contribution: Rafael Onak

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