Many people rent their homes, and with good reason. Renting instead of buying allows for greater flexibility when it comes to moving and allows more variety in housing options. It's also convenient to not be responsible for repairs and maintenance. But to make sure you can keep renting with confidence, it's vital to get the coverage you need.
At Golden Way Insurance Services Inc., we offer comprehensive renters insurance coverage for residents in multiple states. From apartment units to houses and everything in between, we've got a rental policy that fits. Contact our office today, or keep reading to learn more.
How Renters Insurance Works
Many states do not require renters to purchase insurance. However, landlords and property management companies are permitted to require it as part of their lease terms. And many do exactly that. While most of them still do carry insurance on the property itself, this does not cover you, your possessions, or any liability that you may have in the event of an incident. That's where renter’s insurance comes in.
So, whether or not your landlord requires you to get renters insurance, it's something you should still carry. Having a history of renters' insurance will also show reliability on future lease applications.
What if I Have a Roommate?
If you're one of the many people with a roommate, it's only natural to wonder if you can share a rental policy with them. The answer? It's complicated. If your landlord does not prohibit it (and some do), then you can share the same renter's policy with your roommates as long as all of your names are on it, and the same lease. If only one of you is on your policy/lease, then the other roommates will not be covered in any situation.
That said, it is not recommended that you share a policy with your roommate(s). Doing so can be very risky, and it can jeopardize your rental insurance options in the future.
Have other questions or ready to learn more about your renter's insurance options? Contact the experts today at Golden Way Insurance Services Inc.
While our office is located in California, we serve all across the following states: California, Texas, Tennessee, Michigan, Florida, New Jersey, Arizona, Nevada, and Indiana.