FAQ: Does My Roommate Need Renters Insurance Too?

Here is an excerpt from a new blog post at GreggMarcus.com:

There are many common misconceptions about Renter’s Insurance . This is a special policy that can be purchased by tenants to protect their valuables and provide liability coverage as well. Gregg S. Marcus, a Long Island Insurance Executive  highly suggests that all tenants purchase renter’s insurance for a small monthly premium to protect all of their possessions.

Depending on your policy, your roommates’ possessions may or may not be covered. Most policies are designed for single individuals and families, not unrelated individuals. Some insurers cover roommates if they’re included on the policy but it’s by no means the rule. Gregg Marcus recommends that each tenant purchase an individual renters insurance policy.

To read this post in it’s entirety, click here to visit the Gregg Marcus official website.