If you own a home in Wichita, Kansas, buying a comprehensive homeowners insurance policy to protect your investment is an important step. Although the average cost of home insurance in Wichita is quite expensive, Bankrate has deep expertise in helping homeowners find the best insurance for their budget. We reviewed some of the top providers to help you find the best and cheapest homeowners insurance in Wichita.
Best cheap home insurance companies in Wichita
According to rate data from Quadrant Information Services, the top three cheapest homeowners insurance companies in Wichita are USAA, Auto-Owners and Travelers. The average premiums for these three carriers are cheaper than the citywide average rate, which is $3,194 per year for a policy with $250,000 in dwelling coverage.
To find the best cheap home insurance companies in Wichita, we reviewed some of the top providers and assigned each one a Bankrate Score out of five possible points. Bankrate Scores are calculated using factors like financial strength, coverage options, availability, customer experience and claim handling.
When comparing cheap home insurance companies, it’s important to evaluate them based on factors besides price. For example, the cheapest carriers may not always have the best customer service or the largest number of coverage options. If those aspects are important to you, it’s possible that only settling for the cheapest company available might not be the best fit for your needs.
The table below includes Bankrate’s recommendations for the best cheap home insurance in Wichita:
|Home insurance company||Bankrate Score||Average annual premium for $250K dwelling coverage||J.D. Power score|
*Not officially ranked with J.D. Power due to eligibility restrictions
USAA is the cheapest home insurance company in Wichita, based on our analysis of average annual premiums. It also has some of the best third-party reviews and is highly rated for customer service. However, you can only purchase home insurance through USAA if you are an active duty or retired military servicemember. In addition, USAA has limited coverage options and discounts compared to some of its competitors.
Learn more: USAA Insurance review
Auto-Owners has below-average rates in Wichita and ranks second in the 2021 J.D. Power U.S. Property Claims Satisfaction Study. The company offers various coverage options, including dwelling replacement cost coverage, inland flood coverage, home cyber protection and many others. The biggest downside to Auto-Owners is that you must work directly with an agent to get a quote and purchase a policy, which may not be ideal for consumers who prefer digital options.
Learn more: Auto-Owners Insurance review
If you are looking to personalize your home insurance policy with endorsements, Travelers is another great insurance company to consider. There are several add-ons to choose from, including green home coverage, identity fraud coverage and extra protection for jewelry and valuables. The company has below-average premiums in Wichita and offers many discounts for further savings. However, Travelers has the lowest J.D. Power rating for claim satisfaction out of the five companies on our list.
Learn more: Travelers Insurance review
Allstate was rated just below average by J.D. Power for overall claim satisfaction, but it’s one of the most affordable home insurance companies in Wichita on average. It has meaningful coverage options and discounts, including savings for being a responsible payer, having no recent insurance claims, having fire alarms or a security system in your home and purchasing a newly constructed home. You could also add claim rate guard protection and a disappearing deductible for a few extra dollars per month.
Learn more: Allstate Insurance review
American Family has the most expensive average rates out of the five providers on our list. However, the rates are still below average and the company stands out in other areas. With American Family, you could take advantage of many coverage options, like service line coverage, flash flood coverage, water backup coverage and assisted living coverage. There are extensive discounts available for bundling your policies, paying in full, enrolling in autopay, insuring a home that is less than 15 years old, being a loyal customer and a few others.
Learn more: American Family Insurance review
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. Even though Kansas is located inland, floods can still occur. According to the U.S. Geological Survey (USGS), flooding in Kansas has caused millions of dollars in property damage across the state, as well as loss of life.
- 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 from a home insurer..
- Policy bundling: Most insurance carriers will provide a discount if you purchase a home insurance and auto insurance policy together. Policy bundling discounts are often significant, with potential savings between 15%-25% from many companies.