<prompt> Human: Im moving into a new apartment with two other roommates and we are required to have renters insurance with personal liability coverage of 300k. Im wondering if it makes more sense to all get on the same policy or if we should all get individual policies? Im aware of a few pros and cons for both but am having trouble deciding what the smart decision is.Individual policiesPros: This safeguards me from my roommates liability or vice versa. If my roommates bike gets stolen and he makes a claim for it, my insurance rates wont be affected. Ive also heard of some companies that are not even willing to insure someone if they have made a claim in the past 3 years.Cons: Overall, this is more expensive. If someone gets hurt while in our apartment and decides to sue all three of us, we have opened ourselves up to 3 times the liability since all three of us can be held responsible. Shared policyPros: Cheaper Cons: If one person makes a claim, it affects all three of us. I dont even know of an insurer that will put 3 people on the same policy. The max is 2 people on the same policy by most insurers. Questions: Are there other proscons Im not aware of? If we all get individual policies, would each of us be required to have 300k personal liability or can we each get 100k which adds up to 300k together? What do you all think is the smart decision here and why?Thanks!  <response>: IMO you should all get your own policies. Also, regarding this con: If someone gets hurt while in our apartment and decides to sue all three of us, we have opened ourselves up to 3 times the liability since all three of us can be held responsible. This may be true any way. Thats part of what the insurance is for. Its not like having insurance affects your liability. It just hopefully pays for it in the event you are liable for something. If we all get individual policies, would each of us be required to have 300k personal liability or can we each get 100k which adds up to 300k together?You should each get coverage with the assumption the other ones do not have it. What if one of your roommates decides to drop their insurance or not pay? 