Shared Policies: What to Do During Separation, When Adding Roommates, and Beyond

It’s not uncommon for multiple people to share a house or an apartment these days, which might lead to the question, "Is it possible to share a policy with someone else, such as a roommate or a spouse?". The answer to this question is a resounding yes. However, there are things to remember if you wish to share a policy with others. If shared policies are on your mind, the team here at Ruddy Insurance Group in Niles, OH will help you better understand renters insurance and how shared policies may affect your coverage.

What to Consider With Shared Policies

  • Potential complications may arise when sharing policies, especially with roommates. This is due to issues figuring out who owns what when trying to file a claim, a lack of coverage you may receive if your roommate gets angry and intentionally damages something, and problems when someone decides to leave the property. Consider sharing a policy before you fully commit to it.
  • Sharing a policy with a spouse makes sense when you both own the same things and live together in one place. If you haven’t already, now might be the time to talk about it if you both have policies and recently moved in together.
  • If someone on a policy leaves due to separation or moving out, you will need to contact your provider and change your policy. This isn’t complex, but it can be undesirable.

Find a Renters Insurance Policy With Ruddy Insurance Group

Whether you’re looking for a shared policy or you want to have your own renters insurance, we’re here to help. Start here with Ruddy Insurance Group in Niles, OH. Contact us if you need help or compare renters insurance quotes with us to find the right policy for your needs today.