The Best and Cheapest Renters Insurance in Wichita, KS, for 2024: Rankings, Reviews and Rates

When shopping for renters insurance in Wichita, the cost is an important factor since companies offer the same core coverages. It’s best to compare quotes to find the best deal for your needs and situation.

If you’re looking for the cheapest renters insurance, MoneyGeek found that the most affordable companies in Wichita are:

• State Farm: $100 per year
• Nationwide: $109 per year

The prices in this study are for a policy with $20,000 in personal property coverage, $100,000 in liability coverage and a deductible of $500. You can check the table below to see how prices change by adjusting the personal property coverage limit.

If you live somewhere else in the state, you can compare renters insurance in Kansas as a whole.

Based on MoneyGeek’s research, the best renters insurance companies in Wichita are:

• Best Overall: State Farm
• Runner-Up: Nationwide

These are the top-scoring providers on MoneyGeek’s unique rating system that considers affordability, customer satisfaction ratings from J.D. Power and financial stability ratings from AM Best. They also offer unique coverages that are rare among companies.

The average cost of renters insurance in Wichita is $128 per year or $11 per month. That rate is $31 lower than the national average of $159 per year.

Wichita renters insurance is 19.0% less than the U.S. average.

While several factors affect the cost of renters insurance in Wichita, the following are the most impactful.

1. Personal property coverage amount. Your coverage amount has the most significant influence on the cost of renters insurance in Wichita. Keep in mind that the more coverage you purchase, the higher your rate.
2. Location. Your ZIP code can impact your insurance premium. For example, renting an apartment in a neighborhood with a history of property theft or the risk of severe weather can increase the cost of your premium.
3. Deductible. This is the amount you pay out of pocket when your insurer accepts a claim to replace your items. Choosing a higher deductible lowers the cost of your renters policy. Meanwhile, a lower deductible increases your insurance premium.
4. ACV vs. RCV. Insurance providers may reimburse you based on actual cash value (ACV) or replacement cost value (RCV). With ACV, you get the depreciated value of items. Meanwhile, with RCV, you are reimbursed the equivalent cost of a new item that’s similar in kind and quality.
5. Liability coverage amount. Your coverage level only has a minor effect on your premium. A standard renters insurance policy has $100,000 in liability coverage, but you can add thousands of dollars for a few dollars yearly.

While your neighborhood location does affect your renters insurance cost, the impact is only minimal. According to MoneyGeek’s research, where you live may only increase the cost of your premium by a few dollars per month.

Purchasing renters insurance in Wichita is not a legal requirement, but MoneyGeek recommends, given the low cost, to have a policy to protect your assets. Additionally, some landlords require renters insurance as part of your lease agreement.

When you shop for renters insurance, make sure you select the right coverage to meet your needs. Having enough coverage can financially protect your personal belongings against theft. According to the FBI, the number of property crimes reported in Wichita reached 4,731 per 100,000 residents in 2019, 150.31% above the national average.

Renters insurance also covers various risks that can happen anywhere, including fire and water damage. Here are the things that renters insurance in Wichita covers:

• Personal property: Renters insurance protects your personal items against covered perils such as fire, vandalism, theft, plumbing issues and weather.
• Additional living expenses: If your apartment is uninhabitable due to a covered peril, your renters policy covers temporary living expenses, like hotel accommodations and meals, to policy limits.
• Personal liability: Your renters insurance includes personal liability coverage to protect you against the cost of accidents that are your fault. It usually pays for legal representation and the settlement or judgment in case your injured guest ends up suing you.
• Medical payments: If a guest sustains an injury on your property, your renters policy covers the medical expenses, regardless of who is at fault, to the policy limit.

Although renters insurance covers personal property, it does not cover the building’s physical structure. It’s the landlord’s responsibility to purchase insurance that protects the building's structure. Additionally, your renters policy doesn’t cover some events.

For example, renters insurance coverage doesn’t apply to flood damage. You need to purchase incremental insurance through the National Flood Insurance Program (NFIP) to protect your personal property from water damage due to flooding.

Other things that are not covered by renters insurance are your roommate’s possessions, damage from earthquakes, damage to your car, and jewelry or similar items that cost more than your policy limit.

Remember that not all policies are the same. That’s why it’s best to review your policy before purchasing it to ensure you’re getting enough coverage.

To learn more about renters insurance in Wichita, read MoneyGeek’s answers to some frequently asked questions below.

MoneyGeek analyzed hundreds of renters insurance quotes in Wichita to help you find cheap renters insurance. The best renters insurance rankings were determined using data from J.D. Power, AM Best and our affordability metrics that we derive from a comprehensive analysis of quotes provided by Quadrant.