Renters insurance typically covers family members, but may not include roommates. While some providers may allow you to add someone who is not related to you onto your policy, it’s recommended they purchase a separate insurance policy. For one, a claim that is made by either party will go onto your insurance record and could hurt you down the road. The amount of coverage is another thing to consider, as it will not change automatically if you add someone to your policy. The money you are saving is usually not worth it to combine onto one policy.