You finally found the perfect roommate and moved into your dream apartment. You’re excited to start this new chapter in your life, but there’s one important question you need to answer first: should you get renters insurance? On the surface, it may seem like an unnecessary expense, especially if you have a roommate. But in reality, there are several good reasons to get your renters insurance, even if you have a roommate. Here’s why.
While you can share a renters insurance policy with your roommate, there are limits to what the policy will cover. For example, most policies limit the amount of personal property coverage, which means that if you have expensive items or a lot of belongings, your possessions may not be fully covered. Additionally, many policies exclude certain property types from coverage, such as jewelry or collectibles. If you want to make sure all of your belongings are protected, it’s best to get your own policy.
In some cases, you and your roommate may need to file a claim on the same policy. For example, if there’s a fire in your apartment and both of your belongings are damaged, you’ll each need to file a claim. But if you have separate policies, your claims will be processed independently, and you won’t have to worry about one claim affecting the other.
Your renter’s insurance policy will provide liability coverage if someone is injured in your apartment. If you’re sued, your policy will help pay for legal fees and any damages you’re ordered to pay.
If you’re thinking about whether or not to get renters insurance, Stalwart Insurance in Pittsburgh, PA can help. Our team of experts can help you understand your coverage options and ensure you have the protection you need. Contact us today for more information.