The Best and Cheapest Renters Insurance in Kansas for 2021: Rankings, Reviews and Rates

For most people, the cost of renters insurance is the most critical factor when choosing a policy. On average, the two most affordable companies in Kansas are State Farm and Nationwide.

For a typical renter in Kansas, a State Farm policy costs an average of $100 per year or about $8 per month. A Nationwide policy with similar coverage costs roughly $109 annually or $9 per month.

These average premiums, both yearly and monthly, are based on quotes across several ZIP codes in Kansas for $20,000 in personal property coverage, liability coverage of $100,000 and a $500 deductible.

Personal Property Coverage:

$20,000

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Company

Amountper year

1. State Farm

In 2021, State Farm ranked #1 for the cheapest renters insurance with $20,000 in personal property coverage in Kansas.

$100

2. Nationwide

In 2021, Nationwide ranked #2 for the cheapest renters insurance with $20,000 in personal property coverage in Kansas.

$109

3. American Family

In 2021, American Family ranked #3 for the cheapest renters insurance with $20,000 in personal property coverage in Kansas.

$143

4. Farmers

In 2021, Farmers ranked #4 for the cheapest renters insurance with $20,000 in personal property coverage in Kansas.

$160

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According to market share data, the largest insurance provider in Kansas is State Farm with 21% of the market share. They are followed by American Family (15%), Iowa Farm Bureau (8%), Farmers (7%) and Travelers (7%). These companies make up over 58% of all renters insurance policies in Kansas.

Larger providers are usually more financially stable. This means you can buy a policy from them and have the confidence of knowing that your legitimate claims will get paid.

The average cost of renters insurance in Kansas is $128 per year. This rate is $32 less than the national average. The typical renter pays around $11 monthly, which is $3 less than the national average. These rates are for a policyholder with personal property coverage of $20,000, liability insurance of $100,000 and a $500 deductible.

Customers in Kansas can save money by comparing renters insurance quotes. For example, our sample renter could save about $60 per year by choosing the cheapest provider, State Farm, instead of the most expensive, Farmers. This translates to a $5 monthly savings.

Several criteria can influence how much you pay every month for renters insurance, including where you live and your coverage amount. Keep these factors in mind when shopping for renters insurance in Kansas.

• Location: Your ZIP code can impact your renters insurance price since crime rates and weather patterns are factored into your rates. If you live in a neighborhood with a history of weather events or property crimes, you will likely have to pay higher rates.
• Coverage Amount: The more insurance coverage you choose, the higher your premium could be. Complete a home inventory to understand how much it might cost to replace your property after an accident before researching insurance quotes so you don’t buy more coverage than you need.
• Deductible: Your deductible is the amount you pay when your insurance company accepts a claim to replace your items. A lower deductible plan has a higher monthly premium since the company will incur more expenses if they have to replace your items. A higher deductible plan costs less because you will have to pay more out of pocket if you file a claim.
• Actual Cash Value (ACV) vs. Replacement Cost Value (RCV): After an accident, insurance carriers might provide reimbursement using actual cash value (ACV) or replacement cost value (RCV) calculations. ACV policies consider the depreciation of value over time and pay less for older items. RCV policies pay for a new item of similar kind and quality. ACV policies can help customers save on monthly costs but provide less reimbursement after a claim. RCV policies are more expensive but provide additional reimbursement.
• Credit Score: Insurance companies can use your credit score to assess risk and predict the possibility of a claim. According to insurance company projections, customers with lower scores are more likely to file claims. This means that you might get a lower rate if you have a good credit score.

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With renters insurance, you have a low-cost way to protect your assets. It can come in handy if there is a theft, fire or your assets are destroyed by weather events.

In Kansas, 29.8% of the population rents their home and pays an average of $862 per month. The average premium for a standard policy with $20,000 in personal property coverage, $100,000 in liability coverage and a $500 deductible is $11 per month. This is 1.24% of the price of rent.

Before purchasing renters insurance in Kansas, it is important to understand what is covered and what isn’t. Most standard policies cover personal property, liability insurance, additional living expenses and medical payments. Certain policies may offer extra features like identity theft protection.

Personal property coverage can protect against burglary and damage caused by weather events. In Kansas, it can be smart to purchase renters insurance coverage since tornadoes and wildfires have been known to cause substantial damage.

While renters insurance can help protect your belongings, it will not protect you in every situation. Here are a few events that are generally not covered by renters insurance.

• Structural Damage: Renters insurance covers your personal property, not damage to your rental home frame and structure. These are your landlord’s responsibility.
• Flooding: While water damage from broken pipes or a faulty water main may be covered, flooding from a natural disaster is usually excluded. Flooding can occur in Kansas, so it could be smart to consider adding flood insurance through the National Flood Insurance Program (NFIP).
• Earthquake Damage: Kansas does have earthquakes. However, damage occurring from earthquakes are generally not covered by renters insurance.
• Expensive Items: High-end or expensive items like jewelry or gaming computers are often excluded from renters insurance. You may want to purchase extra coverage to protect your valuables.
• Roommate Property: Your renters insurance will only cover your property. Your roommate needs to purchase their own renters insurance if they want to make sure their belongings are protected.

Take the time to read the fine print to understand what your policy covers and what it does not. Ask your agent all of your relevant questions so that you have a better chance of your claims being accepted.

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Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.

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1. What advice would you give tenants looking to buy a renters insurance policy in your state?

   Daniel A Boyer

   An important coverage consideration is personal liability, which is built into renters policies. The basic amount is almost always $100,000. I always encourage my clients to carry $300,000. That usually only adds a couple of dollars a month to the premium. The personal liability coverage protects the insured when a guest gets hurt on their property, but few people realize that it also goes with you anywhere in the world and continues to provide protection for personal liability risks. For example, if they play golf and damage someone's property or injure someone, they can fall back on that personal liability coverage.

2. What considerations should tenants in your state take when determining the best renters insurance company for them?

   Daniel A Boyer

   Your renters plan should always include replacement cost coverage, which means in the event of a claim, the insured receives the amount it would take to replace used items with brand-new replacements. Many companies offer actual cash value coverage as their standard, which means the company is going to pay a claim based on depreciated values.

3. Are there any environmental factors renters should consider when deciding whether or not to buy a renters insurance policy in your state?

   Daniel A Boyer

   Tornadoes are a huge concern in the middle of the country. We are in what is known as the Tornado Belt. The vast majority of policies carry a perils form that covers this risk. Earthquakes are also a big risk, especially since fracking has become more prevalent. Earthquake coverage here is not normally or automatically included in most home or renters policies, but it can usually be added as an optional endorsement.

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Daniel A BoyerAgency Owner, 30 years experienceREAD ANSWERS

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