Kansas Homeowners Insurance

Last Updated on September 29, 2020 by Andrew Lee

As someone about to or who has bought a residential property, you know you’ll spend quite a lot of money not only with its purchase but also with its maintenance. Protecting and securing it is a major contributor to properly and thoroughly maintaining your house.

The easiest way to complete this part of your maintenance responsibilities is to purchase a comprehensive Kansas homeowners insurance policy. And this doesn’t just keep your home and personal property safe; it also safeguards you from potential liabilities and lawsuits.

Average premiums for homeowners and renters insurance in Kansas

The National Association of Insurance Commissioners (NAIC), in a recent study, collected facts and figures relating to the homeowners insurance industry. According to the researchers, the national average of homeowners insurance premiums is $1,096.

Homeowners paid an average of $1,343 makes Kansas the 6th state with the highest insurance premiums

Renters, on the other hand, had a median expenditure of $176 giving it the 25th place in the rankings of per-state premiums from highest to lowest

Another study, this one from the financial resource group ValuePenguin, took a look at the monthly average of homeowners insurance premiums in every state. The experts list the median in the State of Kansas at $94.68.

What your insurance form should consist of

Purchasing a comprehensive Kansas homeowners insurance policy is the easiest way to maintain your house responsibilities.

As the Kansas Insurance Department cited, homeowners insurance policies in the state should provide, at the very least, coverage for these five sections:

  • Dwelling – This provides protection for your house and outbuildings (storage sheds, garages, etc.) in the event of a fire, windstorm, hail, or vandalism.
  • Contents – Covers your personal belongings such as furniture and clothing.
  • Additional Living Expenses – If a disaster renders your home unlivable for a period of time, this part of your policy will help cover costs for temporarily renting out a dwelling. It also helps you with food and other similar expenses.
  • Liability – This protects other people when you accidentally injure them or cause damage to their property.
  • Medical Payment – When another person outside of your family gets injured while at your home, this coverage will cover the medical or hospitalization bills incurred.

It is important you carefully read over your policy, as this will help you figure out the valuables and belongings it covers. It’ll also help you determine the maximum amount of coverage you have, which is important for realistic expectations in the event you do file a claim in the future. Note that the more robust your coverages, the greater the amount of protection you’ll receive.

Key Facts and Market Trends in Kansas: NAIC also studied the number of insurance companies in every state, and their findings state that in KS, there are 49 local insurers. However, there are 1,590 licensed foreign insurers too, bringing this count to 1,639.

The perils basic policies usually don’t cover

One of the most common mistakes a lot of homeowners make is believing that just because they have insurance, they can already file a claim after any event that results in property damage or loss. There are actually many damage- or loss-causing incidents that insurance policies, particularly the basic ones, don’t cover.

Some of these perils include damage resulting from a faulty plumbing system (indoor flooding or sewer backups), earthquakes, nuclear accidents, naturally-occurring flood, and wars among several others. Note also that your home insurance doesn’t cover your cars, pets, or business property.

There is no way for you to predict the future and tell when severe weather may hit your home and result in you suffering serious property damage or loss. So protect this biggest investment you ever made, its contents, your wallet, and yourself through a comprehensive Kansas homeowners insurance policy.