What is homeowners insurance in Kansas City?
Home Insurance in Kansas City is very important, not only to protect you from the many types of possible losses but also to cover the living expenses in case of damage to your house. When looking for home insurance in Kansas City, there are some decisions that you need to make such as where do you want your coverage. The most common ones are listed as follows:
- Coverage on the structure of your Kansas City house – a basic policy is what most agents sell you because you are asking for the lowest price. Depending on the age and location of your dwelling you can get a more comprehensive home insurance policy for just a few bucks more. Don’t screw yourself with just a basic policy. (You are the only one who will lose with this type of coverage)
- Personal property coverage – you need to insure all your personal belongings inside your house. This is where you can decide to cover them up to the market value or not. In the event of a claim you will want replacement cost, trust us, it makes a huge difference in how much you get paid.
- Coverage for liability -from what we know liability claim accounts for almost two-thirds of every homeowner’s insurance claims filed and so it is very important that you have this one covered as well. Most people have only $100,000 or $300,000 maximum limits, but for about $1 per month you can get $500,000 limits of liability on your Kansas City homeowners insurance policy if you just ask. Don’t let your agent tell you that you don’t need it, they don’t have a crystal ball and for $1 per month this is a no brainer.
- Other Structure Property insurance – if you have any structures on your property such as a garage, shed or storage building then you need to get this one included on your homeowners insurance.
- Special Form Personal property policy – there are some specific insurance options that you can get from your insurance agent if you just ask, such as ones that would give you protection for your personal property. This insurance coverage typically ranges from $5 to $15 per month depending on how much stuff you have. Again, you are going to want this coverage in the event of a claim.
How much deductible should I choose for my home?
There are two possible types of deductibles you can choose from:
- Flat Deductible- this is where your homeowners insurance deductible is a set dollar amount. In Kansas City most people are opting for a Flat $2500 deductible because it hits the sweet spot of saving money on your home insurance policy and not having to come up with an amount in the event of a claim that is hard to find.
- Percentage Deductible – When your homeowners insurance has a percentage deductible, this means the deductible changes from year to year and is based on the reconstruction value of your house. For example if your Kansas City home has a reconstruction cost of $300,000 and you had a 2% deductible, your deductible would be $6000. (300,000 x 2% = $6,000)
A good rule of thumb is that your deductible should be around 1% of your dwellings reconstruction cost. If you are going with a flat deductible (which we suggest) pick the one closest to the 1%. But don’t rule out higher deductibles, many times you can save more over 5-7 years than what your deductible would cost you.
PRO TIP: Insurance companies LOVE when you choose a low deductible because they can charge you more and make more money off of you.
Does my neighborhood affect my insurance?
The location of your house does matter in getting your insurance since it can affect the likelihood and cost of possible claims that could happen to your house. It doesn’t matter if you live in Overland Park, Lawrence, Blue Springs, Liberty, Lee’s Summit, or Kansas City, nothing is the same when it comes to home insurance prices.
Home insurance rates depend on where your house is located since some regions are more prone to natural disasters or even theft. Your insurance company has a weather tracking system that is just as good as most local news stations. What they don’t tell you is they can track weather events down to the street level and can pinpoint your house with a specific weather event.
Not only does your home insurance company track weather events in Kansas City, they can pull up the historical records over time to see the likely hood that your specific dwelling will receive damage in the future based on past weather information and crime rates. And I’m not just talking about your zip code, with gps technology today, insurance companies can drop a pin on your house.
Working with an independent insurance agency like Beacon Point Insurance is the best way to find the best home insurance policies in Kansas City MO to meet your needs and fit your budget.
How do I get the best value for my home insurance in Kansas City?
Your home insurance in Kansas City can be cheaper and more affordable if you follow the following tips:
- Check with your independent insurance agent – they might be able to help you find a Kansas City homeowners insurance policy that offers more value for your money.
- Compare various home insurance policies – this way you would be able to find the one that has the most coverage for your money. Remember, Not all home insurance polices are created equal in Kansas City MO or Kansas City KS.
- Work with an independent insurance agent to get quotes from different insurance companies – you can get them online and see if you have any discounts or even other great offers from them, but don’t screw yourself by comparing the wrong things. Only local insurance agents like Beacon Point Insurance Agency can help you find the best homeowners insurance in Kansas City.
- Buy a policy with replacement cost – this is very advantageous because you would be able to replace any damaged property at market value without having to pay extra for it. And replacement cost is not the same as current market value, fyi. The cost to rebuild your home has nothing to do with how much you paid for it.
The Best Kansas City Homeowners Insurance Companies
- Chubb Insurance
- Encompass Insurance (an Allstate Company)
- Hartford Insurance
- Metlife Insurance
- Nationwide Insurance
- State Auto Insurance
- Safeco Insurance (A Liberty Mutual Company)
- Travelers Insurance
Contact Beacon Point Insurance Today to review your coverage options!
Read More about Home Insurance: https://tinyurl.com/hbb1rtjq