Kansas Home Insurance

Kansas residents have the luxury of building their homes on the open prairie or in the city. The state boasts miles of prosperous land, ideal for farming and ranching. However, all Kansas residents assume the risk of living in the heart of “tornado alley,” which poses a threat to their homes. Having adequate home insurance can allay some of the fears associated with living in a state so familiar with natural disaster.

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Stats in Your State

Residents in the state of Kansas can compare the various home insurance rates and how they stack up to the national average to get a sense of whether or not they’ve secured a reasonable premium on their own coverage. The following charts and graphs display the behavior of home insurance premiums over time as they correlate with the rest of the United States.

Homeowner Insurance Premiums

Homeowner insurance premiums in Kansas consistently skirted above the national average between 1999-2008. In fact, when the national average dropped in 2008 from $822 to $791, Kansas premiums inflated from $904 to $916.

Renter Insurance Premiums

While homeowner’s insurance premiums may be high, renter’s insurance in Kansas was far cheaper than the national average between 1999 and 2008. In a 2004 spike, premiums averaged $180, but have fallen as low as an average of $162 in 1999.

Existing Home Sales

Existing home sales in the state of Kansas between 2000 and 2005 steadily climbed to a peak of nearly 78,000 homes sold. However, the housing market has worsened all over the country since then, with sales dropping each year. By 2010, housing sales in Kansas had plummeted to as few as 51,800 homes.

Flood Insurance in Region

Between the years of 2011 and 2012, there were only 125 flood claimants in Kansas, collecting $2,433 in damages. This was considerably lower than data collected for other states in the West North Central region.

Homes Built

The majority of homes in Kansas were built in the 1930’s or earlier, with similar spikes in development in the 1970’s and 1990’s. As of 2005, growth has been comparatively slow.

Rules in Your State

Just like other insurance branches, home insurance is regulated by Kansas law, dictating how insurers may handle their claims and what constitutes unfair business practices. Kansas residents should learn the home insurance regulations in their state in order to be sure their policy is written correctly.

Unfair Claims Settlement Practices Model Regulation: The Kansas Insurance Department provides the code for unfair claims practices.

Introduction to Home/Renters Insurance: For those new to the concept of home or renter’s insurance, the Kansas Insurance Department provides a very basic guide on how to get started, where to shop around, how to get a quote, and what to do in the event that you can’t find coverage.

Representatives & Resources in Your State

There are several resources in your state that can help you best utilize your homeowners insurance policy. Whether you need help settling a claim or just general information pertaining to insurance or housing, the following local authorities may be of assistance.

Kansas Insurance Department
420 SW 9th Street
Topeka, KS 66612
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Consumer Complaint Resource
The Kansas Insurance Department’s consumer complaint guide has links to company complaints, market conduct exams, and an online form for consumers who wish to issue their own complaints.

Before and After the Storm
This Kansas Insurance Department publication has tips for handling insurance with regards to disaster preparation and recovery. Specifically, it aims to help Kansas residents understand their storm coverage and losses due to natural disasters.

U.S. Department of Housing and Urban Development
The HUD provides information for homeowners and renters with sections for individual states.

The NAIC Consumer’s Guide to Home Insurance
The National Association of Insurance Commissioners compiled a guide for consumers as to why they need home insurance, types of homeowners policies, limits of coverage, and more.