Living with roommates in West Hartford, Connecticut may help reduce your living expenses, but it can also be difficult when you are looking for homeowners insurance. Roommates are not usually covered under a basic homeowners policy, especially if you have more than one person living in the apartment, so it is usually best for every individual to obtain their own personal renter’s policy.
What is Renter’s Insurance?
Renter’s insurance is designed to address the needs of individuals who are renting a space rather than buying the property. It is appropriate when you have several roommates in the home and need your own protection plan because it helps protect your personal property. It also offers liability coverage in case an accident takes place in your personal space or a guest is injured in the apartment.
The insured individual has protection, but other individuals living in the apartment will not have coverage in most cases.
Policies for All Individuals
Every individual living in the apartment may need insurance to protect their personal assets and ensure that they are prepared for the worst-case scenario. Depending on the property and the amount of personal property that your roommates own, the coverage that they may require can vary.
It is usually best to seek insurance personally rather than trying to obtain a policy with any of your roommates. It will simplify the process of finding an appropriate policy and it will reduce the risk of being denied when your application is processed.
It may seem bothersome or challenging when you are first looking for an appropriate policy to cover your belongings, but an independent agent can help you find the best option for your goals and needs. Contact us to talk to an agent for more details today.