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Kentucky Homeowners Insurance Quotes - Best and Cheapest (2022)

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Insurify Staff

By: Insurify Staff

Last Updated February 25, 2022

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Kentucky Average Cost of Homeowners Insurance Rates (2022)

According to 2021 rates, the average cost of homeowners insurance in Kentucky is $1462 per year and $122 per month. Kentucky homeowners insurance rates are $64 per year more then the national average and about 5% more annually. When compared to the other US states that makes the cost of homeowners insurance in Kentucky the 16th most expensive in the country, based on 2021 data.

For shoppers, the best way to find a homeowners insurance policy in Kentucky is to evaluate all of the quotes from individual insurance providers and then decide on the policy that fits your requirements and budget level. Fortunately finding the right homeowners insurance coverage is easy with a tool like Insurify.

Insurify provides easy and fast home insurance quote comparisons for all kinds of homeowners nationwide. Insurify has helped thousands of customers receive accurate homeowners quotes for your property in Kentucky in minutes.

Kentucky Average Homeowners Insurance Rates
Average Cost Per Month$122
Average Annual Premium$1462
State Rank (Most Expensive)16th

Cheapest Insurance Companies for Homeowners in Kentucky (2022)

For homeowners in Kentucky, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.

To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Kentucky. The following are the best insurance rates from carriers that offer homeowners insurance in Kentucky.

Cheapest CompaniesQuotes
State Auto$1,635
USAA$1,706
Allstate$2,230
Kentucky Farm Bureau$2,268
Nationwide$2,361

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How to Get Affordable Home Insurance in Kentucky

Buying a home may be one of the largest financial investments of your lifetime, even in an otherwise affordable state like Kentucky. With investment, inevitably, comes risk. But there are steps homeowners can take to minimize risk and protect their investment.

The first step to protecting your property is choosing a homeowners insurance policy that works for you. Home insurance is not required by law but provides financial liability for your property and belongings from many natural disasters or vandalism. Different coverage is available based on your property type, location, and other factors.

Keep reading for a full guide on Kentucky homeowners insurance.

Homeowners Insurance Quotes in Kentucky by Company

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.

The price of homeowners insurance varies greatly from city to city. The following quotes are general estimates of annual home insurance premiums throughout Kentucky. The following home insurance companies offer different coverage levels. Some insurance carriers even offer bundling options for your home and auto insurance.

As of 2021, the average home insurance premium in Kentucky costs $1,410 annually, and the median home value is $252,309.

That's a pretty penny. How can you be expected to pay all of these costs (vital as they are) and still provide for you and your family?

Insurify allows homeowners to compare quotes from numerous homeowners insurance companies simultaneously.

Average Annual Homeowners Insurance Premium in Kentucky by Company

Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage

State Auto
$1,635
USAA
$1,706
Allstate
$2,230
Kentucky Farm Bureau
$2,268
Grange
$2,278
Nationwide
$2,361
Traveler
$2,813
State Farm
$2,943
Encompass
$3,922

Home Insurance Rates in Kentucky by City

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.

As of 2021, the average cost of a home insurance premium in Kentucky is $3,620 annually, and the median home value is $141,000.

While overall a safe and affordable place to live, Kentucky has its fair share of natural disasters. When searching for home insurance in Kentucky, it’s important to make sure your policy includes covered losses like landslide and tornado damage.

The following quotes outline the average cost of homeowners insurance in Kentucky per year for various homeowners insurance companies. While these can help give you an idea of which insurance companies offer cheap homeowners insurance in Kentucky, premiums change based on various factors, including the city you live in and the age, type, and quality of your home.

Bowling Green, Owensboro, and Covington are great cities in the Bluegrass State for cheap homeowners insurance, while home insurance in Lexington, Kentucky, is some of the highest in the state, followed by Louisville.

These prices, paired with the living expenses related to city life, can add up quickly. Insurance agents often recommend bundling your homeowners policy and auto insurance policy to get the most savings and the best home insurance coverage. Talk to a local agent to learn what optional coverage and add-ons can help you get the most out of your home insurance policy.

The easiest way to get the cheapest homeowners insurance in Kentucky with an insurance company that cares about customer satisfaction is to compare quotes using Insurify. You can see side-by-side prices for large corporations like AAA home insurance, local home insurance companies, and even mutual insurance companies like Liberty Mutual to find the best homeowners insurance policy for you.

CityMedian Home Price
Union$305,303
Lexington$201,866
Louisville$178,807
Flatwoods$85,545
Central City$75,560
Princeton$65,272

What Does Home Insurance Cover in Kentucky?

There are several types of home insurance. Specific terms of insurance policies may vary by state, but in general, the standard policy types are as follows:

  • The simplest and least comprehensive type of homeowners insurance.

    Provides coverage for a handful of potential problems including:

    • Natural disasters (storms, fires, wind lightning, volcanic eruption)
    • Explosions
    • Theft
    • Damage from vehicles
    • Civil commotion
  • Broad form homeowners insurance policies include all basic form coverage, plus:

    • Protection from falling objects
    • Damage from the weight of ice, snow, or sleet
    • Freezing of household systems including HVAC and pipes
    • Sudden and accidental damage to pipes and other household systems from artificially generated electrical current
    • Accidental discharge or overflow of water or steam
    • HO-2 policies typically cover both dwelling protection and personal property.
    • In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
    • The most common form of homeowners insurance is known as a “special form” policy.
    • While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
    • HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
    • Tenant’s form policies typically cover all the same dangers as HO-2 policies.
    • Tenant’s form policies typically cover all the same dangers as HO-2 policies.
    • These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
    • Some HO-4 policies may also include loss of use coverage for the tenants.
    • Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policies.
    • The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
    • An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
    • HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property such as jewelry and artwork.
    • Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
    • They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
    • These policies also include personal property and liability coverage and may include loss of use coverage.
    • If you own a mobile home or manufactured home, you likely have an HO-7 policy.
    • Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
    • Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
    • HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
    • Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
    • HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
    • Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home to enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

For more detailed Kentucky city level guides, check out these below.

Covering Your Kentucky Home in the Case of a Landslide

Landslide and mudslide coverage is not included in most Kentucky home insurance policies. The best way to ensure your home is covered from the damages landslides leave is to purchase a difference in conditions policy or DIC. These policies are intended to fill the gaps in standard home insurance policies, offering coverage for unconventional circumstances. Not every home insurance provider offers DIC policies, so you will need to ask your insurance provider if this is an optional add-on to your homeowners insurance policy.

Kentucky Home Insurance

Many insurance policies cover the cost of wind damage, but when it comes to tornado damage, they can fall short. For Kentucky homeowners—especially those near the infamous Tornado Alley—it is crucial to make sure your property is protected in the case of a tornado.

First, it is important to know what your homeowners insurance policy covers and what it doesn’t. If you are not happy with your current coverage, there are ways to augment your policy so you are protected after natural disasters arise. Most homeowners insurance providers offer comprehensive coverage options for people who live in neighborhoods in Kentucky that face tumultuous weather. While this will cause your insurance premiums to increase, you won’t have to worry about out-of-pocket costs to repair your home or replace your belongings after a tornado.

Special Home Insurance Situations in Kentucky

Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Kentucky.

Cheapest Home Insurance for Houses Near Fire Department in Kentucky

If your home is within a certain distance from a fire department or fire hydrant your rates may decrease. The same applies for the opposite. If your home is far from fire safety, you may pay more for homeowners insurance.

Insurance CompanyAverage Annual Premium
Allstate$2,230
Cincinnati$1,417
State Auto$1,635
USAA$17,067

Cheapest Home Insurance for Houses Less Than 20 Years Old in Kentucky

The age of your home and its major systems may affect the policy rate you're quoted by insurance companies

Insurance CompanyAverage Annual Premium
State Farm$2,530
Travelers$2,335
Nationwide$2,190
USAA$1,433

United we stand, divided we fall, Together we find cheap home insurance.

How to Find the Cheapest Home Insurance in Kentucky

There’s a lot to consider when searching for home insurance, but it doesn’t have to be hard to find the best homeowners insurance policy for your Kentucky home. With a little research and the right tools, you’ll be on your way to big savings.
Use Insurify to compare home insurance quotes for your property in Kentucky.

Kentucky Homeowners Insurance FAQ

  • Many employers in the state will offer optional life insurance plans through the Commonwealth of Kentucky. Because of this, it is likely you won’t need to consider purchasing life insurance from your home insurance provider. If you are not eligible for life insurance through the Commonwealth of Kentucky or are seeking higher coverage, you can purchase additional life insurance from your insurance provider.

  • Most insurance policies do not include flood insurance, but that doesn’t mean it isn’t necessary. Floods are a serious concern for Kentucky homeowners, with 21 counties sustaining massive flood damage in the first half of 2020. It’s important to purchase additional flood insurance to make sure your home and belongings are covered in the case of a flood emergency.

  • Nearly all basic homeowners insurance policies cover the cost of wind damage. If you are worried about your level of coverage, you can seek higher coverage rates with lower deductibles so you don’t have to worry about the cost of repairs after a windstorm.

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Methodology

The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews. 

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.

Insurify Staff
Insurify Staff

Content Specialist at Insurify

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