If you’re currently renting a house or apartment, here are some reasons you should strongly consider an investment in Renters insurance.

Your responsibility - Some renters are under the impression that their possessions are covered by their landlord’s insurance. This is rarely true. Typically, the landlord’s insurance covers loss or damage to his property, but not yours.

Theft - Burglars can break in while you’re away and steal your computer, entertainment system, or other valuable items. With Renters insurance, you will have coverage for replacement of the stolen items.

Fire - Fires strike randomly and can begin in electrical wiring over which you have no control. It’s unpleasant to contemplate, but you could come home to find that everything you own has been destroyed. With Renters insurance, you would have a check in hand quite soon to begin refurnishing your life.

Personal liability - If a visitor is injured in your home, for example, by falling down the steps, you could be liable for her medical bills. Renters insurance would cover this liability. Your landlord’s insurance also covers his liability in case anyone is injured on the property, though not always injuries inside your apartment.

The policy - A basic policy usually pays only for the actual cash value of your items at the time they were lost. If you have expensive items like electronics that are subject to depreciation, you should consider replacement cost coverage. If you have any special high value items, such as antiques, furs, and jewelry you should discuss them with your Farm Bureau Insurance agent, since you may need extra coverage for them. Like most other insurance policies, your Renters policy will have deductibles. 

Your Farm Bureau Insurance agent will be happy to discuss your particular situation and help you determine the best protection.