Get Your Own Policy: Roommates and Renters Insurance

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(Free-Press-Release.com) January 15, 2010 -- For renters with a roommate or who plan on having one, they should keep in mind that roommates will affect renters insurance coverage and quotes, says a new InsuranceAgents.com article, ‘Renters Insurance Quotes and Roommates.’ It’s typically recommended, instead of sharing a renters insurance policy, that roommates each purchase their own policy.

“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,’” according to the InsuranceAgents.com article. “Your possessions will not be covered by your roommates’ policy and vice versa.”

Though a joint renters insurance policy may be offered by the insurance provider of choice, they are generally not recommended for several reasons. First, 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.

Second, a joint policy can be a bad idea because one roommate’s belongings may hold a different value than the other’s. For example, if one roommate wants to insure their expensive jewelry and/or electronics, the second roommate will have to share in paying the higher premium.

For renters who already have their own renters insurance policies, they shouldn’t forget to clue their new roommates in on that fact, in case they mistakenly assume they’re covered under the policy.

“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. Remind them that comparing renters insurance quotes online is a good way to find an affordable policy,” the article recommends.

To find affordable renters insurance quotes, visit InsuranceAgents.com. There you can find more information and guides to saving money on insurance.

More information can be found online at http://www.insuranceagents.com/renters-insurance-quotes.html

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