Kansas Home Insurance

If you own or rent a home in Kansas, you may want to consider getting home insurance to protect your property and belongings from natural disasters, theft, vandalism, and other perils. Home insurance is not required by law in Kansas, but your mortgage lender may require it as a condition of your loan. Here are some details of Kansas home insurance requirements, laws, policies, as well as average costs and best companies.

Home insurance requirements: There are no specific home insurance requirements in Kansas, but you should choose a policy that covers the main risks you face as a homeowner or renter. These include fire, hail, windstorm, tornadoes, and liability. You should also make sure your policy has adequate coverage limits for your dwelling, contents, additional living expenses, and personal liability. You can request higher limits from your insurer or purchase additional coverage if needed.

Home insurance laws: Kansas has some laws and regulations that affect home insurance policies and claims. For example, Kansas follows the "valued policy law", which means that if your home is a total loss due to a covered peril, your insurer must pay you the full amount of your dwelling coverage without deducting depreciation. Kansas also has a "comparative negligence" rule, which means that if you are partially at fault for an accident that injures someone or damages their property on your premises, your liability payout may be reduced by your percentage of fault.

Home insurance policies: Home insurance policies vary by company and type of coverage. The most common types of policies are HO-3 for homeowners and HO-4 for renters. An HO-3 policy covers your dwelling and other structures on your property for all perils except those specifically excluded, such as floods and earthquakes. It also covers your personal property for 16 named perils, such as fire, theft, and vandalism. An HO-4 policy covers your personal property for the same 16 perils as an HO-3 policy, but does not cover the structure of your rented home. Both policies also include coverage for additional living expenses, personal liability, and medical payments to others.

Home insurance costs: The average cost of home insurance in Kansas is $1,584 per year for homeowners and $172 per year for renters, according to the Insurance Information Institute. This is higher than the national average of $1,211 per year for homeowners and $180 per year for renters. The cost of home insurance depends on several factors, such as the location, size, age, and condition of your home; the amount and type of coverage you choose; the deductible you select; and your credit score and claims history.

Home insurance companies: The home insurance market in Kansas is fairly competitive, with several national and regional carriers offering different coverage options and prices. Some of the top home insurance companies in Kansas by market share are State Farm (18%), American Family (13%), Farmers (11%), Allstate (9%), and USAA (8%), according to the National Association of Insurance Commissioners. You can compare quotes from different companies online or through an agent to find the best deal for your needs.