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Can you share renters insurance with roommates?

At the end of this month, I’m moving out of my parents’ house into an apartment with some of my friends from school. We’re trying to figure out the total cost each month, including utilities and other bills, but can you share renters insurance with roommates?

avatar
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Congratulations on the move! Moving out from your parent’s house is a significant milestone, and you should feel proud!
Depending on the insurance company, you might be able to share
renters insurance
with roommates. That said, it depends on where you live and the company’s policies.
Even if your insurance company allows you to add roommates, it may not be the best idea since:
  • Renters insurance typically costs between $5-$30 a month.
  • If any of you make a claim, it will go on all of your records. You could see higher premiums in the future, even if your belongings weren’t damaged.
  • Any claim check issued needs to be endorsed by all your roommates, which can sometimes be challenging.
  • The coverage limits may not be high enough to cover everyone’s belongings.
  • Removing a roommate from the policy can be tricky.
Rather than split a policy, you and your roommates are better off getting individual policies based on the coverage you each need. If you want a fast and easy way to find cheap renters insurance quotes, use
Jerry
.
After providing you with a comprehensive cross-analysis of the best policies across providers, Jerry will handle the phone calls, paperwork, and renewals for your top pick so that you don’t have to. They even help cancel your old policy. So why do all that extra work when Jerry can do it better?
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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