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Louisville, KY Homeowners Insurance Quotes (2023)

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Louisville, KY Homeowners Insurance

Louisville is Kentucky ‘s largest city, with a metropolitan population of 624,890. Louisville is known as the home of Kentucky Fried Chicken, the Kentucky Derby, and Louisville Slugger baseball bats. Southern hospitality is Louisville ‘s central theme, as its residents are some of the friendliest you’ll meet on its side of the Mason-Dixon line. It’s a big city with a small-town feel, with plenty of dining and entertainment and a laid-back atmosphere.

Louisville is home to a wide range of companies across several industries. From its beginnings, the city’s economy has relied on shipping and cargo. The Louisville and Portland Canal and Louisville -Nashville Railroad were once the main links in water and rail transportation. Today, the shipping industry thrives as a hub for UPS at the Louisville International Airport. Two Ford Motor Company plants, the GE Appliances factory, and the American whiskey industry also call Louisville home.

It’s no wonder the residents of Louisville love living in this city with all there is to see and do. The low housing expenses, plentiful jobs, and helpful community also keep residents happy. But Louisville does see its fair share of extreme weather like severe storms and tornadoes. As a Kentuckian, it’s worth having proper protection on your home for these types of weather events. But how do you protect your property from the financial loss associated with these events? The answer is homeowners insurance in Louisville.

Use Insurify to research the best home insurance comparison sites for Louisville. See how easy it is to compare and save money now!

Cheapest Home Insurance Companies in Louisville

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

How to Find Cheap Home Insurance in Louisville

Currently, the housing market in Louisville is very competitive. Most homes get multiple offers with waived contingencies. Properties even go pending in about 21 days, and the best homes sell in around four days. If you recently bought or are looking for a home, the market is challenging to navigate.

Buying a home may be one of the largest financial investments of your lifetime. With 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 Louisville is homeowners insurance. Though not required by law, home insurance provides financial liability for your property and belongings from property damage due to natural disasters, vandalism, and theft. Different coverage options are available for different property types, locations, and other factors. There are also additional coverage options for homeowners in Louisville, depending on what you need.

Keep reading for a full guide on Louisville home insurance.

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Cheapest Home Insurance in Louisville 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 Louisville area costs $3,620 annually, and the median home value is $190,994.

The best part of living in Louisville, Kentucky, is the low living expenses. The housing expenses are 20 percent lower than the national average. Utility prices are six percent lower than the national average, and even grocery prices are 11 percent lower than the national average. Homeowners insurance rates can vary depending on a few factors. One of these factors is the insurance provider you choose. You could be paying more or less depending on the insurance company that you go with. The easiest way to find the best homeowners insurance companies and best rates is to compare by insurance company. Then, you can get a quote and find the cheapest home insurance in Louisville.

Below you’ll find the average cost of homeowners insurance in Louisville, KY.

Average Home Cost in Louisville The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.Average Annual Insurance Premium in Louisville The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.

Cheapest ZIP Codes in Louisville for Home Insurance

Finding the cheapest price for homeowners coverage all depends on where you live. If your family lives in Lexington, you can sure bet you’ll be paying a different rate 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 Louisville 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 Louisville

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:

  • The simplest and least comprehensive type of homeowners insurance

    Provides coverage for a handful of potential problems, including

    • Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
    • explosions,
    • theft,
    • damage from vehicles,
    • or 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,
    • sudden and accidental damage.

    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.

    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 policy.

    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 that would 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.

Covered Losses for Louisville Homeowners

Living in Louisville, Kentucky, means your home is open to all kinds of property damage. Louisville has a crime rate of 42 per 1,000 residents. That figure means this city has one of the highest crime rates in America. Property crime is ranked high, at 87 on the property crime index. On top of that, in recent years, Louisville has seen more severe storms, including tornadoes. Both events leave destruction that can be unparalleled. Your property might need a repair, a rebuild, and a cleanup. And you need to make sure you have the proper coverage limits and additional insurance in the event of a covered loss.

When it comes to a covered loss for theft or vandalism, you’re covered on a standard homeowners insurance policy. Hailstorms, lightning, and windstorm damage are generally covered under severe weather events. But water damage due to flooding is not covered on Louisville homeowners insurance. Talk to your local agent about coverage limits and additional insurance for expensive items. You can also discuss flood insurance on your Louisville property. Your insurance agent will set you up so you don’t get stuck paying more money out of pocket when a peril occurs.

Cheapest Louisville Home Insurance

Did you know that you can purchase multiple insurance products and get a discount? This is called bundling, and insurance companies love when you do this. You can buy your home insurance policy with auto insurance and life insurance. And, most often, companies will offer you deals on your insurance rates.

You can also try to lower your premium by raising your deductible. In doing so, you need to make sure you don’t raise your deductible too high. If you have to file a claim and it’s too pricey, you might be stuck paying out more than you can handle.

When you’re ready, you can compare homeowners insurance quotes in Louisville. Just go to the Insurify website and fill out your information based on your needs. Then, you will get home insurance quotes delivered to your inbox. It’s that quick and easy!

How to Find the Cheapest Home Insurance in Louisville

Louisville, Kentucky, is a large city with a small-town feel. You’ll love being a homeowner in this city because you have the Kentucky Derby, premium nightlife, and the friendliest neighbors. But what all homeowners need to look out for is their property. If a peril occurs, you don’t want to get stuck paying out loads of cash to repair or rebuild your home. You need homeowners coverage that works for you. So, what do you do?
Use Insurify to evaluate our home insurance quote comparison for your property in Louisville.

Frequently Asked Questions

  • You can undoubtedly bundle your State Farm insurance policy. Combine policies like car insurance and home insurance, and you can save. Ask your local agent for bundling deals available.

  • You can undoubtedly bundle your State Farm insurance policy. Combine policies like car insurance and home insurance, and you can save. Ask your local agent for bundling deals available.

  • You can find the best-rated homeowners insurance companies in Louisville by searching J.D. Power’s website. J.D. Power awards companies with customer excellence awards each year. You’re sure to find some winners on their list!

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Jackie Cohen
Jackie CohenEditorial Manager

Jackie Cohen is an editorial manager at Insurify specializing in property & casualty insurance educational content. She has years of experience analyzing insurance trends and helping consumers better understand their insurance coverage to make informed decisions about their finances.

Jackie's work has been cited in USA Today, The Balance, and The Washington Times.