Most Wichita homeowners know the value of a good insurance policy, but the average cost of a policy in the city is pretty expensive. Nearly 59% of Wichita residents own their own homes, which have a median value of $133,400. Yet, the average insurance policy in Wichita in 2021 costs $2,878, which is above the state average of $2,694 and well above the national average of $1,674.
To find the best cheap home insurance in Wichita, we looked at companies that write the most policies in the region. We assessed them for cost, financial stability, customer service and whether they make it easy for policyholders to customize their insurance to fit their needs. Our picks for the top five insurers excelled in all these areas.
Best home insurance companies in Wichita
According to our research, the home insurance companies below are the best in Wichita. All rate well in J.D. Power’s Overall Customer Satisfaction Index Ranking, and all offer an average home insurance premium below Wichita’s average rate. Each carrier is financially solid and provides a range of home insurance options.
|Home Insurance Company||Average Annual Premium for $250K Liability||J.D. Power Score|
USAA’s average rate for Wichita residents is a full $1,409 below the city’s average cost of home insurance. That is a significant amount of savings and indicates that you should consider asking for a quote from the company if you are in their demographic.
That demographic is specific, though: USAA only sells policies to members of the U.S. military, veterans and their families. If you are in one of those groups, you will also appreciate the company’s reputation for customer service and fast claims management. USAA’s coverage options include perks geared toward the military, including full coverage of uniforms and home-sharing coverage if you are renting out your home while deployed.
Auto-Owners comes in third place in J.D. Power’s ranking, which means you will likely have a positive experience dealing with the company. The carrier offers comprehensive, affordable home insurance with a focus on high-value homes.
Optional coverages include guaranteed home replacement, identity theft coverage and ordinance or law coverage, enabling you to rebuild to current municipal codes. The company also offers a lengthy list of discounts that may lower your costs, including a green discount, a paid-in-full discount and a mortgage-free discount.
A standard Traveler’s home policy covers your dwelling and other structures, your personal property, liability, and loss-of-use coverage, which helps pay for your costs if you need to live away from your home while it is being repaired.
The company also has a wide range of optional coverages or endorsements that allow you to tailor your policy to your needs. These include green home coverage, identity fraud and extra coverage for jewelry or other valuable items or collections.
Allstate scores above average with J.D. Power and has an A+ rating with AM Best, which indicates a high level of financial solidity. That means the company will likely be there when you need them, even after a disaster that impacts many of their policyholders.
Allstate offers standard coverage options and a few optional endorsements and discounts, such as a 10 percent savings just for switching to the company. It also features “Allstate Extras,” including Claim Rateguard, ensuring that your premium will remain stable even if you file a claim with the company.
State Farm is the largest insurer of homes in America today. There are some excellent reasons to consider the company when looking for the best cheap home insurance in Wichita. Although its average rate for home insurance in Wichita was the highest of our five chosen companies, it was still below the average for the city’s residents. State Farm’s A++ rating with AM Best is the highest award the company gives, and it ranks above average with J.D. Power.
State Farm’s discounts may help you get your rates down, especially if you bundle your auto insurance with homeowners and install fire, smoke and burglar alarms. You’ll also get a discount if you use impact-resistant roofing products, which is a good idea anyway, considering Wichita’s sometimes severe weather.
Home insurance coverage options in Wichita
Unlike auto insurance, homeowners insurance is not mandated by law in Kansas, but if you have a mortgage on your home, your lender probably requires you to carry homeowners insurance. Even if you don’t have a mortgage, it’s still a good idea to look into purchasing a policy to protect your considerable investment in your home.
Standard HO-3 homeowners insurance (the most common type) covers your dwelling, other buildings such as a garage or shed, your personal belongings (up to a limit), liability and loss-of-use. There are also some common optional coverages you might need, including:
- Flood insurance: Flooding is one of the biggest potential disasters not covered by HO-3 policies. If your home is in a flood zone, you may want to consider purchasing flood insurance.
- Water/sump pump backup: If you have a drain back up or your sump pump fails and floods your basement, you may not be covered unless you have this additional endorsement on your insurance policy.
- Windstorm: Kansas is known to have tornadoes, so Wichita homeowners may want to look into purchasing windstorm insurance, which will help further protect them from the costs associated with tornado damage.
Home insurance discounts in Wichita
When looking to save money on cheap home insurance in Wichita, make sure you take advantage of every discount available to you. Almost every major insurer offers at least a few discounts, and they can often be easily earned. Here are some common ones:
- Automatic payments: If you set up an automatic payment plan with your bank, you may earn a small discount, such as 5%, off your premium.
- Welcome/loyalty discounts: Some insurers offer a discount just to switch to that company or remain a customer for a certain period.
- New home discount: If you have purchased your home in the last 12 months, some insurers will offer a discount, which may be even greater if the house is new construction.
- Protective devices: Anything that makes your home safer and more secure, such as smoke detectors and burglar alarms, is likely to earn you a discount.
Frequently asked questions
What is the best home insurance company?
The best insurance company for you may not be the same one that is best for your neighbor. Start by doing a little research into insurance companies near you and comparing quotes for premiums and coverage options. If you want more information, consider speaking with a licensed insurance agent or broker to learn more about coverage options.
How much does home insurance in Wichita cost?
The average cost of home insurance in Wichita is $2,878 for a $250K dwelling, which is slightly higher than the overall Kansas average of $2,694. The propensity for tornadoes and other severe weather in the state is one reason why Kansas insurance is on the high side. Your actual rates are based on several factors and may differ from the state or city average.
How much home insurance do I need in Wichita?
A good insurance agent can help you determine just how much home insurance you need in Wichita. It is a good idea to purchase enough coverage to repair or rebuild your home if you face a disaster, such as a fire. You probably also want to have adequate liability to cover yourself if someone is injured at your home.
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
Rates are determined based on 2021 Quadrant Information Services data.