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The Best and Cheapest Renters Insurance Companies in Kansas for 2022: Rankings, Reviews and Rates
Renters insurance lets you protect your property against burglary and unforeseen damage at an affordable price. According to MoneyGeek’s data, the cheapest renters insurance in Kansas costs an average of $8 each month versus $13 per month for the most expensive option. This means renters can save about $5 per month by shopping around.
If you are looking for the best renters insurance in Kansas, MoneyGeek has ranked the providers to help you find the right coverage for your needs. Our scoring system takes into consideration price, financial strength and customer service so you can find the best provider for your needs.
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Last Updated: 4/19/2022
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Cheap Renters Insurance Companies in Kansas
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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Companies With the Cheapest Renters Insurance in Kansas by City
City | Cheapest Company | Average Annual Premium |
|---|---|---|
Wichita, KS | State Farm | $100 |
Wichita, KS | Nationwide | $109 |
Wichita, KS | American Family | $143 |
Wichita, KS | Farmers | $160 |
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Best Renters Insurance Companies in Kansas
Price is just one of the factors to consider when shopping for renters insurance in Kansas. Customers need the peace of mind that their insurance company will provide timely and effective support during a worst-case scenario.
To find the best renters insurance companies in Kansas, MoneyGeek ranked providers based on price, customer service scores from J.D. Power and Associates and financial stability ratings from AM Best. According to this research, State Farm ranks as the best renters insurance provider in Kansas with a score of 95 points out of 100. Nationwide takes second place with 92 points.
1
State Farm
Score:95.4
More About State Farm
State Farm provides an excellent balance between protection and value. The standard policy includes coverage for several weather and non-weather incidents. There are plenty of customization options available for items like computers, silverware and jewelry. You can also add earthquake coverage and identity theft protection to your policy.
2
Nationwide
Score:91.6
More About Nationwide
Nationwide offers several discount options. You may be eligible for savings if you bundle car insurance with renters insurance, have no claims for a period of time or if your home has qualifying fire, burglar and smoke alarms. The standard insurance policy covers theft and fire damage. Customers can get separate coverage for items like jewelry, cameras and watches. You can get a basic quote online or have an agent provide a more detailed quote for your specific needs.
3
American Family
Score:75.6
More About American Family
American Family provides excellent customer support using a large network of agents who interact personally with customers. It’s easy to get a quote over the phone. While the company does not provide many online features, it is a good option for people looking for personal interactions with agents.
4
Farmers
Score:71
More About Farmers
Farmers offers identity theft protection at an additional cost, and you can use their online tool to get a personalized quote. Policyholders can get discounts if their home has been smoke-free for a minimum of two years or has smoke alarms.
Largest Renters Insurance Companies in Kansas
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.
- CompanyMarket Share
- 1.State Farm21.0%
- 2.American Family15.3%
- 3.Farm Bureau Mutual (IA Group)7.7%
- 4.Farmers7.2%
- 5.Travelers7.2%
Average Cost of Renters Insurance in Kansas
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renters insurance is equal to the average.
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.
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What Factors Impact Renters Insurance Cost in Kansas
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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Renters Insurance in Kansas: What You Need to Know
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.
What Renters Insurance Typically Covers in Kansas
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.
What Renters Insurance Typically Does Not Cover in Kansas
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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FAQs About Renters Insurance in Kansas
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Expert Insight on Renters Insurance in Kansas
- What advice would you give tenants looking to buy a renters insurance policy in your state?
- What considerations should tenants in your state take when determining the best renters insurance company for them?
- 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
Agency Owner, 30 years experience
Renters Insurance in Kansas Analysis: Methodology
MoneyGeek analyzed renters insurance premiums from four of the top insurance companies in Kansas that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Kansas. Quotes were gathered for policies with personal property coverage of $20,000, $50,000 and $100,000; liability coverage of $100,000 and a deductible of $500.
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