Would renters insurance provide coverage to a subletter?
UPDATED: Jun 12, 2013
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Asked June 12, 2013
A renters insurance policy is meant to protect one person and their immediate family against a series of known perils. The protection includes liability insurance for damages or injuries to other people as well as personal property protection for the policy holder. There is no provision in a renter's insurance policy for subletters, or roommates of any type.
On the other hand, if a person is subletting from you, then they should compare renters insurance quotes and a policy of their own. Subletting is a form of renting, where insurance is concerned, and such a policy would cover all of the things a roommate or subletter needs to insure. Any time there are multiple tenants in a dwelling, it is best for each one to have their own renters insurance policy.
Having different renters insurance policies makes each tenant responsible for their own liabilities if a visitor gets hurt. In a group liability policy, the whole family would be liable, and if it had been one of them, they wouldn't even be covered because liability does not include the people protected by the policy.
Similar disputes could arise if a major personal property claim had to be made. The insurance company would be faced with a double claim based on a smaller estimated value of property. And since personal property only pays a percentage of the full policy value, the chances are good the limits would be reached before all parties got their property back.
Yes, a subletter can purchase a renters insurance policy to protect themselves and their property. No, a subletter is not qualified to share in the renters insurance policy of the primary renter. Doing so would introduce too many risks and variables for insurance companies to be able to provide adequate coverage at a fair price.
Answered June 12, 2013 by Anonymous