While some companies allow roommates to split the cost of a policy, it may be wise to consider separate policies. For approximately 50 cents per day, renters insurance covers all of your possessions and personal liability. In the grand scheme of things, that’s a modest investment. Furthermore, with an individual policy you don’t need to worry about false or excessive claims on your account, nor will you have to modify your policy in the event that your roommate unexpectedly moves out before the end of your lease.
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