Does Renters Insurance Cover My Roommate? - NYCM Insurance Blog

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Oct 18, 2023

Does Renters Insurance Cover My Roommate?

Whether you are moving into your first apartment or downsizing to a downtown loft, renters insurance is a must-have for anyone who is living in an apartment or any other type of rental property. If this is your first time seeking a renters insurance policy, you may have some questions about who and what is covered. Here are some answers to questions you may have about renters insurance.

Is my roommate covered by my renters insurance policy?

After seeing all the features and benefits that renters insurance has to offer, you may be left wondering if the other residents of your rental property and their belongings are also covered. Unfortunately, the short answer is likely no. When a person who resides in a rental property purchases renters insurance, they are the only insured. This means that the policyholder and their belongings are the only things that are covered. Any additional inhabitants in the apartment who are not related to the policyholder must purchase their own renters insurance policy to ensure that they have coverage for themselves and their personal property.

Is my spouse covered by my renters insurance policy?

Yes, under most renters insurance policies, spouses are covered even if they are not listed on the policy. This also means that spouses’ belongings and personal property are also covered.

What else does a renters insurance policy cover?

Renters insurance policies cover a wide range of losses. Here are some examples of coverages that are included in a renters insurance policy:
       Liability including bodily injury, damages, legal expenses and medical expenses.
       Theft and vandalism including malicious mischief.
       Extreme weather including wind damage, freezing, lightning, hail, weight of ice and more.
       Fire damage including smoke damage, accidental discharge of water and overflow of water.

What discounts are available for renters insurance policyholders?

Renters insurance policies are often very affordable and can cost even less after applying discounts. Available renters insurance discounts that you may qualify for include the following:
       Multipolicy discounts allow you to lower the cost of your insurance if you have two or more insurance policies with the same insurance carrier. Some discounts may reach up to 25%.
       Alarms/fire extinguisher discounts may apply if you equip your home with smoke alarms, sprinklers, burglar alarms, deadbolts, locks and other protective devices.
       Claim-free discounts are available to policyholders who are claim-free for five consecutive years.
       A retirement discount applies to those who are over the age of 55 and are not employed full-time and are not seeking full-time employment.
       And many more.

How do I get renters insurance?

If you find yourself in need of renters insurance, make sure to contact your agent so they can help find the policy that best fits your needs. If you do not have an insurance agent, you can click here to find an agent near you. Once you find an agent, you should call them and ask about renters insurance.

To ensure you and all your belongings are safe from various losses and disasters, be sure to add renters insurance to your move-in checklist.