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?
Whether you rent in Springfield, Oak Grove, or Northwest Arkansas, our team can help you compare renters insurance in Springfield, Oak Grove, and Bentonville from about 15 carriers.
- 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?
Renters insurance is one of the most affordable policies you can buy. Your cost depends on how much personal property coverage you choose, your liability limit, your deductible, your location, and your claims history. Bundling with auto insurance can lower the price further. Because MBG compares about 15 carriers, we can usually find a policy that fits your budget without cutting important coverage.
Does renters insurance cover water damage or backup?
Sudden and accidental water damage, such as a burst pipe or an overflowing washing machine, is typically covered. Water or sewer backup through drains is usually excluded unless you add a backup endorsement, and availability varies by carrier. Flood damage from rising surface water is not covered and requires a separate flood policy.
Do I need renters insurance if my landlord has insurance on the building?
Yes. Your landlord’s policy covers the building and the landlord’s liability, not your belongings or your liability. If a fire destroys your apartment, the landlord’s policy rebuilds the structure, but your furniture, clothes, and electronics are your responsibility. Many landlords now require tenants to carry renters insurance with liability coverage as part of the lease.
Can I bundle renters insurance with my auto policy?
Often, yes. Many carriers offer a multi-policy discount when you insure your car and renters policy together. However, a bundle isn’t always the cheapest option. As an independent agency, MBG quotes bundled and standalone options side by side, so you can see which one saves more.
How much renters insurance coverage do I need?
Start with a home inventory: add up what it would cost to replace your furniture, clothing, electronics, kitchen items, and other belongings. Most people underestimate this number. For liability, many renters choose $100,000 to $300,000. Higher limits cost little more and give you better protection if someone is hurt in your home or you accidentally damage someone else’s property.
Does renters insurance cover my belongings outside my home?
Yes. Most renters policies cover your personal property anywhere in the world, subject to policy limits. That includes a laptop stolen from your car, luggage taken while traveling, or items in a storage unit. Some policies limit off-premises coverage to a percentage of your personal property limit, so ask your agent how your policy handles it.
Does renters insurance cover my roommate?
Usually not. A renters policy covers the named insured and resident relatives, such as a spouse or children. Unrelated roommates generally need their own policy. Some carriers allow a roommate to be added, but separate policies keep each person’s claims and coverage independent.
Does renters insurance cover dog bites?
In many cases, yes. The liability portion of a renters policy can cover injuries your dog causes to others. However, some carriers exclude certain breeds or dogs with a bite history. If you have a dog, tell your agent so we can match you with a carrier that covers your pet.
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. Revised 08/25/2026