How much is homeowners insurance in Kansas?
Several factors influence home insurance prices, including the home’s location, the property’s age and condition, and the type of policy you choose. Homes in areas prone to natural disasters or with high crime rates typically have higher premiums. Choosing a policy with higher coverage limits or additional riders will also increase the price.
How your policy choices affect home insurance rates in Kansas
The choices you make when selecting a home insurance policy in Kansas can significantly affect the rates you pay.
Your policy form
Home insurance policy forms outline the coverage available to homeowners under a particular policy type. HO-1, HO-2, HO-3, and HO-5 are the most common types, but HO-3 is the most popular policy form, according to the National Association of Insurance Commissioners (NAIC).
Each policy form offers varying levels of coverage for perils, such as fire, theft, and natural disasters. Typically, the more threats a policy covers, the higher the premium. For this reason, selecting the correct policy form depends on your individual needs and budget to ensure adequate coverage for the perils most likely to occur in your area.
Read More: Understanding the 8 Types of Homeowners Insurance
Your coverage level
Insurance companies assume a greater financial risk when providing higher coverage levels. The more coverage a homeowner has, the greater the potential payout from the insurer and the higher the insurance premiums.
|Dwelling Coverage Amount||Average Annual Premium|
A deductible is the amount you’re responsible for paying out of pocket before your insurance coverage begins to pay for a covered loss. For example, if your policy has a $1,000 deductible and you file a claim for $5,000 in damages, you’d pay the first $1,000 and the insurance company would kick in the remaining $4,000.
If you choose a low home insurance deductible, you’ll pay less out of pocket, but this usually leads to a higher premium since the insurance company takes on more financial risk. A higher deductible can lower your insurance cost, but it means paying more out of pocket for each claim.
How location affects home insurance rates in Kansas
State by state and ZIP code by ZIP code, your home insurance costs can differ depending on where you live. It’s like a game of roulette, except instead of a ball bouncing around a wheel, factors like tornadoes, windstorms, flooding, and crime rates in different ZIP codes are spinning around in the mix. To score a winning quote, you must know how these factors affect your rates.
|City||Average Monthly Quote|
Table data sourced from real-time quotes from Insurify’s partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer’s unique profile.
See More: Cheap Home Insurance Quotes by State