Lexington, KY Homeowners Insurance Quotes (2023)

Lexington, KY Homeowners Insurance

Lexington is Kentucky ’s second-largest city, with a metropolitan area of 517,000 residents. Horses, bluegrass, and bourbon are synonymous with Lexington. The city gets its nickname, the Horse Capital of the World, for its famous racecourses, The Red Mile, Keeneland, and Kentucky Horse Park. Horse races attract thousands of people a year to the city. Lexington is also home to the Festival of Bluegrass, Kentucky ’s oldest bluegrass music festival. And, since around 1865, bourbon barrel distilleries have been a staple in Lexington. The location is perfect for bourbon because of the area’s abundance of corn and limestone. Limestone helps filter out iron in the water used, which takes out any impurities and makes the bourbon taste delicious. Today, tourists and residents enjoy touring the local distilleries around the city.

Lexington is also a family-friendly city with low living expenses. The University of Kentucky influences sports, entertainment, and employment for the residents. This makes Lexington residents a highly educated and tech-savvy population. Life is good for its residents.

But with Lexington being in a humid subtropical climate, hot and humid summers and somewhat cold winters are common. On average, the city experiences around 23 days of 90°F weather in the summer and annual precipitation of 45 inches. This kind of extreme weather can make for severe thunderstorms, extreme heat, flooding, and tornadoes. Lexington residents should be as prepared as possible. And the best way to do that is to have a home insurance policy.

Insurify has the answer to that! Research home insurance comparison sites in Lexington, Kentucky, right now. You’ll be on your way to savings!

Cheapest Home Insurance Companies in Lexington

For homeowners in Lexington, 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 Lexington. The following are the best insurance rates from carriers that offer homeowners insurance in Lexington.

How to Find Cheap Home Insurance in Lexington

The housing market in Lexington, Kentucky, is very competitive at the moment. Most homes go pending in about seven days. And the most popular dwellings go pending in around two days. Are you looking for a new home? Or have you recently bought a house?

Buying a home may be one of the largest financial investments of your lifetime. With the investment, inevitably, comes risk. However, there are steps homeowners can take to minimize risk and protect their investment.

The first step to protecting your property in Lexington is homeowners insurance. Though not required by law, home insurance provides financial liability for your property and personal belongings from a covered loss like natural disasters, theft, and vandalism. Different coverage options are available for various property types, locations, and other factors.

From Covington to Richmond, there’s a homeowners insurance policy for you. Keep reading for a full guide on Lexington home insurance.

Cheapest Home Insurance in Lexington by Company

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.

As of 2020, the average home insurance premium in the Lexington area costs $3,620 annually, and the median home value is $218,084.

Lexington ’s living expenses are lower than the national average. Housing expenses are seven percent lower than the national average, and utility prices are eleven percent lower than the national average. Even grocery expenses are nine percent lower than the national average. Homeowners insurance in Lexington can vary. It depends on essential factors like which home insurance company you purchase your policy from. Homeowners insurance companies price differently from one to the other. For example, insurance providers like Allstate and State farm differ in pricing. The best way to find the right prices is to compare home insurance quotes. Go to the Insurify comparison tool and fill out what you need. Then, you’ll get quotes delivered to you within a few minutes. It’s so fast and easy!

See the average cost of homeowners insurance in Lexington, KY, below.

Average Annual Home Insurance Premium in Lexington by Company

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

Cheapest ZIP Codes in Lexington for Home Insurance

Living in Kentucky means you will pay different amounts for homeowners insurance depending on where you live. For example, you’ll pay a different price in Bowling Green then you would in Louisville.

Like property costs, home insurance varies in price from city to city. Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on your annual premiums.

Rates in Lexington can be relatively high or low compared to the national average; it all depends on which area you live in.

Home Insurance Coverage Types in Lexington

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

Severe Weather and Lexington Insurance Coverage

In Lexington, Kentucky, most natural disasters include severe weather like extreme cold, ice storms, flooding, extreme heat, severe storms, windstorms, and tornadoes. Central Kentucky, where Lexington is, gets 88 percent more tornado activity than the rest of the United States.

Tornadoes can destroy homes and towns in a matter of minutes. And although lightning, wind, and hail damage are covered on homeowners insurance in Lexington, flooding is excluded. Since Lexington receives a lot of precipitation, flooding is all too common in the area. You don’t want to get stuck paying thousands in water damage. It’s important to purchase flood insurance from your local insurance agent, especially if you live in a flood zone.

Cheapest Home Insurance Rates in Lexington

One tip for lowering your Lexington, Kentucky, home insurance premium is to raise your deductible. Do this with caution, though. You don’t want to increase your deductible too much and have to pay out of pocket after a covered loss. You could also look at different insurance discounts like loyalty discounts, claims-free discounts, and home improvement discounts. Most insurers give loyalty discounts to customers who stick with the same provider for many years. Claims-free discounts come with a demonstrated history of no claims, which usually grants lower rates over time. And your effort to make home improvements since the start of your policy can help you save. All you have to do is let your insurance provider know you made these changes!

Next, you can purchase multiple insurance products from one insurance agency. This is known as bundling. You can combine home insurance with auto insurance and life insurance and get a great discount. You’ll have multiple insurance policies within reach from the same company. Insurance companies love it when you purchase multiple insurance products, so this is the deal to have!

When you’re ready, search for the best homeowners insurance companies. You can compare pricing and find the perfect homeowners insurance in Lexington for your lifestyle. You can then get a home insurance quote for free in a matter of minutes. Try it out now!