If you rent an apartment, house, or condo, renters insurance is coverage you need — even though your landlord’s own policy won’t protect you. A landlord’s insurance covers the building itself, not your belongings and not your personal liability. Renters insurance fills that gap, covering your possessions against risks like theft, fire, and wind, with options to add coverage for water backup and other perils depending on the carrier.
Despite that, a significant share of renters still go without it. According to the Insurance Information Institute, renters insurance adoption has climbed over the past decade but still leaves a large portion of tenants uninsured — often simply because they’ve never thought to look into it.
What Does Renters Insurance Cover?
Personal Property Covers the cost to repair or replace your belongings — clothing, furniture, electronics, and more — up to your policy’s coverage limit, if they’re damaged or stolen in a covered loss.
Liability Most landlords require this coverage as a condition of the lease. It helps pay for damage you accidentally cause to someone else’s property, and for injuries to another person you’re found responsible for — including medical bills for guests injured at your home.
Additional Living Expenses (ALE) Pays for extra costs you incur after a covered loss, such as a hotel stay or other temporary living expenses, if your rental is damaged and unlivable while it’s being repaired.
Why Work With MBG Insurance for Renters Insurance?
- We shop multiple carriers. Renters insurance is usually written separately from auto insurance, and bundling the two doesn’t always save money — sometimes it’s cheaper to keep them apart. As an independent agency, MBG can compare rates across roughly 15 carriers to find the right coverage at a fair price, bundled or not.
- More carriers means more options. Coverage details vary by insurance company — some offer extras that others don’t. Comparing multiple carriers helps make sure you get the protections that actually matter for your situation.
- We look for every applicable discount. We match you with the carrier that maximizes available discounts on both renters and auto coverage.
Renters Insurance FAQ
How much does renters insurance cost in Missouri or Arkansas? Cost depends on your coverage limits, location, and the value of what you’re insuring, but renters insurance is generally inexpensive compared to other policy types. Because MBG shops multiple carriers, we can usually find a competitive rate regardless of your specific situation — the best way to know your exact cost is to request a quote.
Does renters insurance cover water damage or backup? Many renters policies include coverage for sudden water damage, and water backup coverage (for issues like a backed-up drain or sewer) can typically be added for an additional cost. Availability varies by carrier, which is another reason it helps to compare options.
Do I need renters insurance if my landlord has insurance on the building? Yes. Your landlord’s policy covers the structure, not your personal belongings, and it won’t cover you if you’re found liable for injuring someone or damaging their property. Without your own renters policy, you’d be paying out of pocket for both.
Can I bundle renters insurance with my auto policy? Often, yes, and sometimes it saves money — but not always. Because pricing varies by carrier and circumstances, MBG compares bundled and standalone options across multiple companies to find whichever is actually cheaper for you.
Get a Renters Insurance Quote
Ready to see your options? Request a quote online, or call the MBG Insurance office nearest you:
- Springfield, MO: (417) 773-7822 — 2100 S. Brentwood Blvd., Ste. B, Springfield, MO 65804
- Oak Grove, MO: (816) 690-2640 — 1200 S. Broadway, Oak Grove, MO 64075
- Bentonville, AR: (479) 350-6862 — 1202 NE McClain Rd, Ste. 153, Bentonville, AR 72712
We’re always here to help.
Written by Brandon Thompson, CEO and Co-Founder of MBG Insurance.