Does Each Tenant Need Renters Insurance? 
For the most part , yes , unless you 're married or live with your parent -LRB- s -RRB- . For the property part of your insurance , you must have an insurable interest in the property . The insurance company will only pay the owner of the property in the event of a claim . If you do n't own it , you have no loss . If you 're married , the property is considered to be owned by both so either can collect from a loss . For the liability portion , you must be a named insured or the dependent of a named insured . If you have a roommate and you both get sued , your liability covers you and their liability covers them . Look at it this way , if you 're roommate gets sued for doing something negligent , do you really want that to be your problem ? A good agent will help you choose the right coverages for your situation and build a policy you can afford . Be smart and find an agent you can trust . It 'll save you money in the long run . 