To avoid confusion and non-payment of claims, it is recommended that you and your co-owner insure the vehicle with a single policy. You can include their names in the policy and share the cost. Many insurers, including Progressive, allow roommates to share car insurance. If both vehicles stay in the same direction overnight, you can share a policy, even if you drive different vehicles or don't share last names.
Adding a roommate to your car insurance will increase the cost of your individual policy, but it may be lower than the combined cost of two separate policies. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provision, limitation or exclusion that is expressly stated in any insurance policy. Therefore, the only way to insure twice involves the participation of two insurance companies, neither of which would easily admit liability for the same claim. Two people with insurable interests in a car can have two different insurance policies, but filing two separate claims for the same accident can have unintended legal consequences, such as penalties.
Depending on the insurance requirements of your state and the insurance company, you may need to disclose people of driving age who live in your residence. Car insurance policies are for both the vehicle and the driver, so it's perfectly fine, legal and common for two people to be insured in the same vehicle with different policies. Worse yet, two people buying insurance for the same car are equivalent to paying twice for the same possible claim. If your roommate drives your car, even from time to time, you'll want to add him as a driver to your car insurance policy.
Damage to your vehicle may be covered if you've given your roommate permission to drive it and it's not listed in your policy, but it will depend on the situation and the insurer. Many insurers, including Progressive, will provide a breakdown of the cost per vehicle so that you and your roommate can effectively divide your car insurance. Insurance coverage has many variables and options, so when looking for insurance, finding a team like the Steve Wilk Insurance Agency is crucial to finding the best policy for your specific needs.