Living with a group of people has its advantages while you are young and money is tight. It can also be a lot of fun! Once you have found a great shared household that clicks, you may consider pooling resources to buy household items. While this can make sense financially, keep in mind that should anything be damaged and destroyed by fire or other disaster, an insurance company may ask for proof that the particular item did in fact belong to whomever is making the California renters insurance claim. 

Renter’s insurance protects home contents for renters and it is advisable that each person in the home takes out their own insurance. When you make any major purchase it’s important to keep the receipt and even catalogue it in an individual home inventory - a detailed list of your possessions. Include make and model number where applicable. This may make it a lot easier when looking to make any insurance claim. 

While buying items such as a washing machine together may help everyone, just remember that one of you will be the holder of the receipt and also that you’ll need to agree who gets to keep it when you all move on.

To find out more about California renters insurance, do seek professional advice. Remember too that if you already have car, health or other policies with the same provider, you may be eligible for a discount. 

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