Average renters insurance cost in Olathe, KS

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In Olathe, renters insurance costs an average of $222 per year for $40,000 in personal property coverage, $300,000 in liability coverage, and a $1,000 deductible, which is $16 less than the statewide average of $238.

It can be higher or lower depending on the coverage limit you choose and the amount of liability the policy provides. If you rent, you should consider buying renters insurance because it protects your personal belongings from damage caused by covered perils such as fire or smoke damage, theft, vandalism and other mishaps.

Looking for affordable renters insurance in Olathe? We’ve compared the top companies to help you find the cheapest options.

Key Takeaways

Renters insurance costs an average of $222 per year or $18 per month in Olathe.
Iowa Farm Bureau has the cheapest renters insurance for Olathe renters at $13 per month.
Taking advantage of discounts, such as having a security system or bundling renters insurance with other insurance policies, can help reduce your insurance premiums.

What is the average cost of renters insurance per month in Olathe?

The average monthly cost of renters insurance in Olathe is $18, which is $2 less than the state average of $20. This rate is for a coverage limit of $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

Renters insurance rates vary by city depending on the coverage and the insurance company you choose. For example, renters in Olathe pay $13 monthly for $20,000 in personal property coverage with a $1,000 deductible. If you increase your personal property coverage to $40,000, the cost will rise by $5.

Higher coverage limits are recommended if you own valuable items like jewelry, furniture, and electronics.

How much is renters insurance in Olathe by deductible?

Renters insurance in Olathe costs $171 per year for a $500 deductible and $20,000 in personal property coverage.

Your deductible is the amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same (e.g., $20,000) but you increase your deductible limit from $500 to $1,000, you will pay $15 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amounts.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$171	$246	$319
$1,000	$156	$222	$286

Note: The liability protection coverage is $100,000.

Who offers affordable renters insurance in Olathe?

Iowa Farm Bureau provides the cheapest rates in Olathe, with an annual premium of $150 or $13 per month. Allstate is the second-cheapest company, followed by State Farm.

Below is a list of the cheapest renters insurance companies and their average annual and monthly rates.

Renter insurance provider	Average annual rate	Average per month rate
Iowa Farm Bureau	$150	$13
Allstate	$162	$14
State Farm	$163	$14
Auto-Owners	$192	$16
Shelter Insurance	$212	$18
Nationwide	$240	$20
American Family	$274	$23
Farmers	$274	$23
Marysville Mutual	$312	$26

Tips for reducing the cost of renters insurance

Here are some tips to help reduce renters insurance costs in Olathe:

Bundle insurance policies. If you have other insurance policies, such as car insurance, consider bundling them with the same insurer. Many insurers offer discounts for bundling in Olathe.

Increase deductible. Opting for a higher deductible can lower your premium in Olathe, but make sure you’re comfortable with the amount you’d pay out-of-pocket in case of a claim.

Choose the right coverage. Review your policy regularly to ensure you don’t have extra coverage. For example, you might not need as much coverage for personal property if you don’t own many valuables.

Avoid small claims. Filing too many small claims can increase your rates over time. Consider paying for minor damages out-of-pocket instead of claiming them through insurance.

Shop around. Don’t settle for the first quote you receive. Compare renters insurance quotes in Olathe from multiple providers to find the best price for the coverage you need.

Renters insurance in Olathe, offers valuable protection for renters at an affordable price. While premiums can vary depending on location, coverage amount and individual circumstances, the peace of mind it provides is worth the investment. By understanding your coverage needs, comparing quotes and taking advantage of discounts, you can find an affordable policy that suits your budget.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Olathe in 2023 for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.