Hello r/insurance – big fan; long time, first time, etc.
I am in Chicago, Illinois. I have recently signed a lease for an apartment, and one of the terms of the lease is that I carry Renter’s Insurance with $100,000 liability coverage, and list the building owner as an additional insured.
I also had to have a guarantor (my mom) “vouch” for me with the leasing company – they wouldn’t rent to me unless she acted as my guarantor. My question is this: should I list the guarantor (my mom) as another additional insured on my renter’s policy?
What are the pros and cons? I assume the pro is that my mom will be indemnified if someone gets hurt on the property and decides to sue, but would she even be liable at all? I assume the con is that the policy will cost more money? Is there anything I’m overlooking/haven’t considered?
Any help would be most appreciated.