OKC Insurance Agents: Insuring your belongings and ensuring you
When you own a home you have many more responsibilities, so there are perks to renting. If you’re renting, then you don’t have as many responsibilities such as handy fixes around the house, but you do have a lot of belongings that may be pretty important to you. Rental insurance can help you protect your valuables in case of theft or accidents. Many renters have roommates to cut the cost of the rent so this may have you wondering if your roommate can be covered on your rental insurance in order to cut the cost of it, too. OKC insurance agents want you to be able to make an informed decision about purchasing renters insurance.
OKC insurance agents offer many options for you and the true answer is that your renters insurance may cover your roommate, but there is more than to consider here. While OKC insurance agents will be able to write a policy for multiple roommates, keep in mind that the renter’s insurance premium takes into account the value of the property being insured. That means higher priced items such as computers (which you and your roommate may both own) may drive your premium up. So, your initial attempt to save money by joining up on your Renters insurance policy may actually leave you with a higher payment in the long run.
On many occasions, OKC insurance agents will warn that sharing Renters insurance with a roommate, like your college buddy, may be risky. The reason? Well, we will say that you would really have to trust the person you were renting with. For instance, in the event that household items were stolen or damaged, only the owner of the policy would receive the insurance payment. The roommate would have to trust that their friend will divvy up the payment. If after closer examination of your circumstances you still wish to share a Renters insurance policy then it can be done. Ask your OKC insurance agent about Farmers Renters insurance for more information.