Services
Insurance
Loans
Repairs
Advice
About

Does each resident need renters insurance?

I’m moving into a new apartment with a coworker, but I’ve never had a roommate before. Our lease requires renters insurance, but does each resident need their own policy?

avatar
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Living with a roommate can be both a blessing and a curse, but I hope you’re getting excited about the move!
Each resident doesn’t need their own
renters insurance
policy. You can share a policy with your roommate if both your state and insurance company allow it. That said, just because you can share a policy doesn’t mean you should.
Considering renters insurance is usually only about $5-$30 a month, you won’t save much money by sharing a policy. Additionally, sharing a policy might not be the best idea because:
  • Any claims made will go on both of your records and could increase your premium, even if your property wasn’t damaged.
  • Claim checks will be issued using both of your names and must be endorsed by each roommate.
  • The coverage limits may not be high enough to cover all of your belongings.
  • Removing a roommate from the policy can be difficult.
Rather than share a policy, you and your roommate can save money on both your renters and
car insurance
policies by using
Jerry
. A licensed broker that offers end-to-end support, the Jerry app gathers affordable quotes, helps you switch plans, and will even help you cancel your old policy.
View full answer 
WHY YOU CAN TRUST JERRY
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.

Join 4M+ members in lowering their car insurance

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings