CLAIM IT & SAVE IT. Renters insurance acts as a “security blanket” essential items and for the belongings you hold near and dear. From televisions and laptops, to bicycles and camping equipment — even your favorite novel can be protected with the right coverage.

When renting your dwelling, it's easy to think, "this won't happen to me," but sometimes the imaginable will become your reality. My own experience involved internal water damage, one of the many catastrophic events that can befall a home, alongside things like fires and theft.

“One day I'll get renter's insurance,” I also thought – often without taking immediate action. That thought proved essential one day this summer, when I came home to water trickling through a light fixture in my two-bedroom apartment.

Renters insurance serves as a vital "security blanket” and protects your cherished and essential everyday belongings — if you also find water and electricity mixing (which, by the way, should be an immediate concern for any renter or homeowner).

Your things are worth more than you believe they are. –Casey Stephens, Eau Claire's State Farm branch

From televisions and laptops, to bicycles and camping equipment — even your favorite novel can be protected under renters insurance coverage. Renters are typically able to find coverage plans through any local or national insurance provider.

Casey Stephens, a financial services representative at the local State Farm branch in Eau Claire (404 S Barstow St.), believes that meeting with an agency in person can help overcome the often intimidating hurdles of learning about what options are available.

Whether it’s a second-hand couch from your grandma’s house, or a brand-new microwave, “your things are worth more than you believe they are,” Stephens said.

According to Stephens, State Farm offers renters insurance quotes that typically range from $9 to $14 per month, or an annual fee starting at $100.

The cost of renters insurance is lower than homeowners insurance because it primarily covers personal belongings, liability, and living expenses — in the chance your home becomes uninhabitable — rather than coverage for the structure of the house itself.

There are three areas of coverage which renters insurance is most commonly used for: cost coverage on belongings, liability coverage, and medical payments coverage for guests injured in the renter's unit.

The cover of a State Farm renters policy, pictured above.

Personal property coverage limits can range between $20,000-$30,000, with a personal liability coverage starting at $300,000.

State Farm and other providers offer their renters insurance policies — with details on personal property coverage — accessible online via their websites.

But what do all of these values mean, and why are they important? In the event something happens inside of your unit — and you need to get your belongings replaced — a renters policy will replace those items with something brand new, or at minimum, a depreciated value of the original belonging.

Your policy would also safeguard your belongings and other home essentials, even if the damage or loss was caused by another tenant, Stephens said.

Most landlord rental services in the city of Eau Claire require renters insurance when signing a lease. Future renters can confirm any requirements with their property manager when signing the lease.

In the outcome your lease agreement does not require renters insurance, Stephens said first-time renters should explore various providers to find the best fit for their needs — sooner, rather than later.

In the big picture, renters insurance policies can offer longevity credits that, depending on the provider, may be applied towards homeownership insurance over time.

“The longer that you have the renters policy, if you stay with the same carrier, then you are going to get some longevity credit that can be built into the policy — which makes your homeowners insurance less expensive,” Stephens said.

While I realistically will continue to rent for the foreseeable future, it’s uncertain whether the internal water damage in my current apartment will negatively affect my rental unit. Nevertheless, it's reassuring to know my most cherished belongings (which may or may not include stacks of magazines and alternative newspapers) have a possibility of being salvaged or replaced.

Eau Claire’s local State Farm insurance provider is located at 404 S Barstow St. in downtown. Stop by in-person or call (715) 835-4328 to learn more about what services fit your rental needs.