Ensuring your personal belongings are protected in case of an emergency is crucial. Homeowners typically have a home policy to cover this. Many people who rent a house or apartment in Negaunee, MI, obtain renters’ insurance. But what if you’re renting a room?
Property Protection
You can also obtain a policy if you’re renting a room. It may even be more affordable because you only need coverage for your personal belongings rather than the entire house. An agent at U.P. Insurance Agency Inc. can help you learn more.
Personal Policy
It’s possible to get your own policy instead of sharing one with roommates. A personal policy is typically recommended. Sharing a policy can result in your monthly premium increasing if your roommate files a claim. It can also be more expensive because you’ll need coverage for everything in the house.
Common Exclusions
It’s important to remember that every type of insurance typically comes with exclusions. For example, some companies specifically state they do not cover damage caused by pets. Many insurance policies won’t cover damage caused by someone else living in the house unless you file a police report and press charges.
Most policies will not cover anything that isn’t yours. For instance, if you have a personal policy and someone robs the house, the company will not reimburse you for your roommate’s belongings. However, many companies make an exception if you’re related to other people living in the home. This small loophole can be used if you’re living with family members or if your children’s belongings are stolen.
We understand the importance of obtaining coverage when living with someone else. Professional agents at U.P. Insurance Agency Inc. can help you learn everything you need to know. Contact us today to learn more. We proudly serve the Negaunee, MI area.
