Does Each Roommate Need Renters Insurance? 
There are very few companies that write non-related individuals on the same renter 's policy . This status of delineating coverage is called `` Named Insured . '' The drawback to these policies is that a claim check would be made payable to ALL named insureds ; so if only your stuff was stolen from your vehicle or otherwise damaged , your roommate would also need to sign off on the check before you can cash it . The other drawback is that , in the event of a claim , it goes on the personal history of all named insureds . So if your roommate has a claim , it can penalize YOU for the next 3 to 7 years -LRB- depending on company -RRB- even if you guys separate households . Even if a roommate has no personal property -LRB- i.e. contents -RRB- , a critical component of renter 's insurance is liability . Ideally , each roommate should have renter 's insurance , so that if a guest is hurt on premises , the lawsuit could be filed against the responsible person . Most renter 's policies also include Personal Injury coverage under the liability , but some do not . Personal Injury covers damages to a third party that you may be legally liable for , but where the injured party suffered no physical injuries . The most prevalent claim currently is slander/libel from social media . Refer supra to what I indicated about claim history . Do you really want to be responsible for your roommate 's posts online ? I know I do not . I currently rent myself as it is a better deal where I live than ownership . I do have a roommate , and we each have our own separate policies . 