Me and three roommates need renter's insurance. To save money and
paperwork, we want a company that's willing to insure all four of us
under one policy. State Farm won't do this - they want us to buy four
seperate policies. Are there any insurance companies out there that
will cover all of us with one policy?

Renter's insurance and other homeowners insurance policies are
designed for single individuals and traditional families. So when
unrelated individuals share a residence, insurance coverage can become
complicated. However, some insurance companies will allow multiple
roommates to be listed on a single renters insurance policy. Insurance
laws on this topic vary from state to state, and insurance policies
vary from one company to the next. However, most insurance companies
recommend that each tenant maintain a separate renters insurance
policy to cover his or her personal property. You should each create
an inventory of your possessions, so there are no questions about
which policy covers which items if you ever have to file a claim.

Having said that , Farmers insurance and Allstate both have a multiple
renters insurance but they are not cheap

- search term used 
  I called my agent

The best place to look is with the insurance companies you already
have covering you; example (car, boat, motorcycle) insurance.  Most
insurance companies will give a discont of 10-20% on your other
premium which will make your renter's insurance seem like it's free.

If all four of you are on the same policy, and a claim is ever filed,
it will adversely affect all of you and make it more difficult for any
of you to obtain coverage in the future (past claim = higher risk).
The best thing is for each of you to get separate policies, and as a
previous poster said, you may qualify for a multi-policy discount
which effectively makes the renters insurance free (mine actually
lowers my car insurance so much that I actually SAVE money every
month!).