There is certain etiquette when it comes to purchasing renter's insurance. For example, a family that rents their home should have no issues when purchasing a renter's insurance policy. This is because most renter's insurance policies cover the policy holder and the policy holder's family members.

However, two roommates who rent but are not related usually can not be covered under the same renter's insurance policy unless the two roommates are related ? and the relation sometimes has to be immediate family. This is where things can begin to get tricky.

If you rent your residence and your landlord requires you to purchase a renter's insurance policy, there should be no problem with you or your roommate; however, the two of you must understand that you will most likely be required to purchase two separate renter's insurance policies in order to cover the two different sets of personal property. The two of you must also understand that even if you aren't required by your landlord to purchase renter's insurance policies, but one of you decides to purchase a renter's insurance policy anyway, the other's personal property is not covered under the renter's insurance policy. Both situations are subject to change, of course, if the insurance company from which you choose to purchase your renter's insurance policies allows family members who rent together to have one renter's insurance policy together.

Before moving in together, make sure each of you understands the etiquette of purchasing renter's insurance. Contact an insurance company that offers renter's insurance and learn what is and isn't allowed in regard to more than one person being covered under the same renter's insurance policy.