Renting a home or an apartment comes with many cost-saving benefits, such as not having to pay property taxes or cover some utility costs. However, Farmers Insurance Group reminds renters that, in the event of an incident, some costs and protection may not be covered by a landlord’s homeowner insurance. As such, renter’s insurance is available to provide vital coverage if the property, your belongings, or people are subject to damage or injury.

According to this respected national insurance agency, here are five reasons why you need renter’s insurance:

• Covers Guest Injuries: If someone is injured on your property, such as by slipping in the home, a landlord may not be responsible for subsequent medical bills. Renter’s insurance offers you liability protection against these costs, including those you may ultimately be responsible for, such as dog bites.
• Provides Legal Cost Coverage: If someone is suing you for an incident that occurred on your property, renter’s insurance can cover your legal fees, so you can get the defense you need.
• Protects Against Loss Or Damage Of Personal Property: When you sign up for a renter’s insurance policy, you and your agent will list the total value of your belongings. In the event of theft, natural disasters, and fire or water damage, you can receive payment to cover the current value of stolen or broken items. Replacement cost coverage can also be added to your policy to provide you with the full market value of the item as if it were new, allowing you to purchase another in its place.
• Pays For Property Damage You Cause: Accidents happen, but that doesn’t mean your landlord will always be responsible for covering the cost of them. If anyone in your household has damaged the property, like breaking a window, renter’s insurance can help cover the cost of the repair.
• Funds Living Expenses: If you can no longer live in your rental, your living expenses can often be covered through what’s known as “loss of use” coverage. This means that if your property is unsafe to live in, such as after a natural disaster or fire, this coverage can pay for housing, food, and other essentials while the space is repaired.

Another reason you need renter’s insurance: It doesn’t cost much, and it can save you a great deal in the long run. To learn more about coverage and to request a quote, visit the Farmers Insurance Group online. You can also call your local agent at (417) 926-7900 to open a renter’s insurance policy in Mountain Grove.