Home Insurance Leads Anchorage Alaska AK

Reader’s Question:

I would like to know if I will be covered by my room mate’s renter’s policy in Anchorage Alaska, AK too?

Katie

Anchorage, AK

This could be a very common question among young singles and other unmarried individuals who choose to share a house or apartment these days. Renter’s insurance policies just like any other homeowners insurance policies are almost always designed for single individuals and traditional families. When unrelated individuals share a single residence, insurance coverage can become a really complicated issue to handle.

Insurance laws on this topic vary from one state to another…homeowners and renters insurance policies can vary from one company to another. Most insurance companies recommend that each tenant should maintain a separate renters insurance policy to cover his or her personal property. You should each create an inventory of your possessions so there will be no questions about which policy covers which items in the event that you have to file a claim.

Most insurance companies could allow multiple roommates to be listed on a single renter’s insurance policy. Better take note that if your insurance company structures policies this way, you and your roommates will be able to purchase one renters insurance policy to cover all of your collective possessions. Each person’s name shall be listed on the policy. It will be best to make sure that you have purchased enough insurance to cover everyone’s property. You also need to remember to change your policy in the event that a roommate moves out or if a new roommate moves in.

Things can become even more complicated for those unmarried couples living together. Some renter’s insurance policies will extend coverage to any resident of the policy holder’s household who fits the definition of “domestic partner”. You need to take note that these policies are only the exception and not the rule. Each partner will need to have a separate renter’s insurance policy to cover their personal property in most cases. This is not always a perfect solution in all cases. Even unmarried couples out there will often have joint property. The best option in this case should be to keep detailed records of who actually purchased what, allowing you to make an accurate claim if the need arises.

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