Kansas Landlord Insurance

Find Your Ideal Landlord Insurance Policy in Kansas

There are currently more than 300,000 renter-occupied homes in the state of Kansas. If you are one of the many property owners who lease out homes in this state, you can protect your investment with a suitable landlord insurance policy. Whether you are renting out a traditional family home in Overland Park, a luxury apartment in Kansas City, or a studio apartment on a short-term lease to a visiting professor in Lawrence, this coverage is necessary.

A landlord insurance policy will shield you from the many potential hazards you face as a property owner with tenants so that your rental properties can continue to generate a profit. To be sure that you are getting your coverage at a reasonable rate, you will need to compare a variety of landlord insurance quotes.

Median Gross Rent in the Largest Cities in Kansas, 2011

  • Wichita: $671
  • Overland Park: $903
  • Kansas City: $684
  • Topeka: $676
  • Olathe: $862
  • Lawrence: $892
  • Shawnee: $791
  • Manhattan: $777

Why Lessors in Kansas Need Landlord Insurance

Traditional homeowners insurance policies will not provide coverage for damages to your property if it was occupied by tenants at the time the damage occurred. If you want to be compensated for loss, damage or liability expenses associated with your rental property, you will need a landlord insurance policy.

You are not required to cover the property owned by your tenants. They will need a renters insurance policy for that.  You are, however, responsible for covering damages to the structure of the home, any of your own personal property that is kept inside, and any liability expenses that may arise.

Be aware that quotes for landlord insurance policies typically run about 25 percent higher than quotes for traditional homeowners policies. This is because there are more inherent risks involved when you have tenants occupying your KS rental property.

What Landlords in Kansas Are Charging for Rent

  • Less than $200: a total of 17,320 renters, making up 5.6%
  • $200 to $299: a total of 25,846 renters, making up 8.3%
  • $300 to $499: a total of 103,580 renters, making up 33.4%
  • $500 to $749: a total of 97,619 renters, making up 31.4%
  • $750 to $999: a total of 32,101 renters, making up 10.3%
  • $1,000 to $1,499: a total of 11,196 renters, making up 3.6%
  • $1,500 or more: a total of 3,578 renters, making up 1.2%
  • No cash rent: a total of 19,183 renters, making up 6.2%
  • The median cost to rent a home in Kansas: $498

Landlord Insurance Protects Against Liability

One of the most important features of a landlord insurance policy is liability coverage. This will protect you if your tenant, or one of your tenant’s guests, is injured or suffers property damage and it can be shown that the accident was a result of negligence in upkeep on your part.

Some examples of things you might find yourself held liable for include:

  • Medical expenses if there is a carbon monoxide or gas leak in the home
  • Medical expenses resulting from a fall that could have been prevented had the home been kept up better
  • Damages or injuries caused by a fire that resulted from faulty wiring in the home

If your rental home becomes uninhabitable because of negligence in upkeep, you may also be responsible for compensating your tenant for the costs associated with temporary lodging.  Fortunately, your landlord insurance policy will cover all of this as well any court costs or legal defense fees you may accrue as a result of liability charges.

Kansas Burglary Statistics, 2012

  • More than 18,700 burglaries occurred in this state in 2012.
  • The national burglary rate is 6.70 burglaries per every 1,000 residences.
  • The Kansas burglary rate is 6.50 burglaries per every 1,000 residences.
  • The KS city with the highest burglary rate is Kansas City with 12.05 burglaries per every 1,000 residences.

Landlord Insurance Covers Property Loss and Damage

In the case of any renter-occupied home, wear and tear is to be expected. Unfortunately, tenants sometimes cause damages that go beyond what is considered reasonable. This might happen if they are careless with cigarettes, overflow the bathtub, or fail to report a pest infestation to you, among other possible scenarios. Landlord insurance will compensate you for damages that go beyond reasonable wear and tear.

In addition, severe weather events such as tornados can also lead to damages to both the structure of your rental home and your personal property—including rugs, appliances,and light fixtures—that you include within the home. Landlord insurance covers weather-related damages with the exclusion of flood damage. For that, you will need to purchase a separate flood insurance policy.

Finally, burglaries and other property crimes may result in property loss or damage. You are not responsible for compensating your tenants for any personal belongings they may have lost in a burglary, but be aware that a home invasion can also result in broken doors or windows as well as vandalism. Your landlord insurance policy will compensate you for damages for losses caused by property crimes.

Landlords in Kansas Can Easily Compare Insurance Quotes

Comparing landlord insurance policies and quotes for your Kansas rental property is necessary if you want to be sure that you are getting a quality policy at a reasonable rate. Working with an independent agent in the Trusted Choice® network can streamline the comparison shopping process. These agents work with several highly-rated insurance companies so they can easily provide you with an assortment of policies and rates to choose from.

Contact a Trusted Choice agent in or near your Kansas neighborhood to learn more about landlord insurance. You can start comparing quotes in no time.

Now, who's ready to get their insurance problems solved?