Homeowners insurance in Kentucky

The cost of homeowners insurance in Kentucky is $1,978 a year for the average amount of coverage. Kentucky residents can compare rates from multiple companies with Policygenius.

Pat Howard 1600

Pat Howard

Published September 21, 2020

KEY TAKEAWAYS

  • The average cost of homeowners insurance in Kentucky is $1,978 per year for $100,000–500,000 in coverage

  • The most affordable insurance company in Kentucky is ASI, according to Policygenius quote data

  • When deciding on policy coverage, Kentucky residents should consider the state’s penchant for severe thunderstorms, flooding, and tornadoes

Homeowners insurance is financial protection for your home, personal property, and combined assets in the event that something bad happens, like a bad storm or break-in. If you’re one of the almost 67% of Kentucky residents who owns a home, you’re going to want a comprehensive homeowners insurance policy given the region’s propensity for severe thunderstorms and tornadoes.

The statewide average cost of homeowners insurance in Kentucky is $1,978, which is a few hundred dollars more than the national average of $1,633. But insurance premiums will differ considerably for Bluegrass State residents based on specific factors related to your home and policy. Your rates will be directly impacted by your home’s condition and style of build, its location, your credit and claims history, and the policy deductible amount you choose. Rates will also be different from company to company for the same level of coverage, which is why it’s so important to compare policies from different companies — that’s where we come in.

To help simplify your shopping experience, Policygenius reviewed the five best homeowners insurance companies in Kentucky offered through our website. We also calculated the cheapest and most expensive cities in Kentucky for home insurance based on hundreds of submitted quotes.

Compare Kentucky quotes here

IN THIS ARTICLE

The 5 best homeowners insurance companies in Kentucky

Before deciding on a homeowners insurance policy, consider doing a little research on the company that will be insuring your house and all of your assets. A great homeowners insurance company is financially stable, has a good track record when it comes to handling claims, and offers affordable coverage, flexible policy options, and high quality discounts.

Using those benchmarks, we determined the following five companies were the best homeowners insurance companies in Kentucky. Read about our methodology here.

Best company for a cheap quote: ASI

American Strategic Insurance, part of the Progressive group of insurance companies, provides the cheapest Kentucky home insurance quote of any Policygenius partnering carrier. The average quote with ASI is $1,376 for $100,000–500,000 in coverage, which is around $600 dollars cheaper than the statewide annual average of $1,978. Kentucky residents looking for great coverage at a relatively low cost should consider homeowners insurance with ASI.

Best replacement cost policy: Safeco

Kentucky residents looking to maximize coverage for their home and personal property against the state’s severe thunderstorms and tornadoes should consider Safeco’s excellent replacement cost coverage options. Safeco has four comprehensive tiers of coverage, and all include the option to add extended replacement cost, a policy add-on that increases your home’s coverage limits an additional 25% or 50% if rebuild costs exceed your dwelling coverage amount. Safeco’s “Premier Plan”, its highest level of coverage, includes guaranteed replacement cost, which pays for a rebuild of your home regardless of the price.

Read our full review of Safeco here

Best company for discounts: State Auto

Kentucky residents looking for home insurance savings should look no further than State Auto, a company that offers an astonishing nine available discounts for everything from bundling your home and auto insurance to fitting your house with smart home devices to fortified home discounts.

Read our full review of State Auto here

Best financial ratings: Travelers

One important indicator of an insurance company’s ability to pay out claims in an effective and timely manner is its financial stability, and Travelers is among the highest-rated insurers in that area. With an A++ rating with A.M. Best, Travelers has the highest score a company can receive with the insurance company credit rating agency. Travelers also has high marks with Standard & Poors, which measures long-term financial stability, as well as Moody’s, which measures what the expected losses would be if a company were to go into default.

Read our full review of Travelers here

Best company for high-value homes: AIG

Kentucky residents with high-value homes should consider a homeowners insurance policy with AIG. This luxury insurance company provides guaranteed replacement cost dwelling coverage, replacement cost coverage on all personal property, and additional services like appraisals and risk protection consultations. Keep in mind that AIG only covers homes with an insured value of more than $750,000, and typically requires that you insure at least one other type of property (like your car or boat) as a condition for insuring your home.

Read our full review of AIG here

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Average cost of homeowners insurance in Kentucky by company

When comparing insurance companies, Kentucky residents may find that rates differ greatly from company to company for the same level of coverage. Higher-priced policies may include coverage add-ons or have higher limits than other plans, or they may cost more simply because that insurer charges more for coverage in that particular location.

After reviewing hundreds of quotes submitted with Policygenius, we found that ASI is the cheapest insurance company in Kentucky with a $1,376 average annual premium for $100,000–500,000 in coverage. MetLife has the most expensive coverage with an average annual premium of $2,727.

CompanyAverage Cost
ASI$ 1,376
[Encompass](https://www.policygenius.com/homeowners-insurance/reviews/encompass/$ 2,134
Hippo$ 1,426
MetLife$ 2,727
Nationwide$ 2,512
Progressive$ 1,568
Safeco$ 1,574
State Auto$ 1,858
Travelers$ 1,593

Average cost of home insurance in Kentucky by coverage amount

The average cost of homeowners insurance in Kentucky will also differ considerably based on the amount of insurance you have for your home. Below are the average homeowners insurance quotes for five different levels of coverage.

Coverage AmountAverage Cost
$100,000-$200,000$ 1,590
$200,000-$300,000$ 2,108
$300,000-$400,000$ 2,392
$400,000-$500,000$ 1,940
Greater than $500,000$ 2,998

Average cost of home insurance in Kentucky by city

Insurance companies will also price policies differently based on where you live. We found the city of Paducah on the Ohio River in Western Kentucky has the highest rates in the state with a $3,505 average annual premium for $100,000-500,000 in coverage. The city with the cheapest rates is Independence, outside of Cincinnati, Ohio, with an average annual premium of $1,242 for the same amount of coverage.

CityAverage Cost
Alexandria$ 2,361
Ashland$ 1,461
Bowling Green$ 1,664
Covington$ 1,404
Elizabethtown$ 2,832
Erlanger$ 1,269
Frankfort$ 2,017
Georgetown$ 1,706
Henderson$ 2,205
Hopkinsville$ 2,474
Independence$ 1,242
Lexington$ 1,590
Louisville$ 1,599
Murray$ 1,967
Nicholasville$ 1,660
Owensboro$ 1,791
Paducah$ 3,505
Richmond$ 1,342
Shepherdsville$ 1,304
Somerset$ 2,741

We selected the 20 largest cities in Kentucky by population where customers have submitted quotes with Policygenius. Quotes are based on a coverage amount between $100,000 and 500,000.

The cheapest cities for homeowners insurance in Kentucky

kentucky-cheapest-homeowners-insurance

The most expensive cities for homeowners insurance in Kentucky

kentucky-most-expensive-homeowners-insurance

Guide to homeowners insurance in Kentucky

Common causes of home insurance loss in Kentucky

Kentucky is prone to extreme weather most of the year. The state sees around $15 million in annualized property losses from winter storms and extreme cold, $29 million from tornado damage, and $32 million in losses from thunderstorms and lightning, according to the U.S. Department of Energy. All of the aforementioned hazards are covered in a standard homeowners insurance policy, but Kentucky residents should see to it that their homes are both built and insured to withstand the most severe weather.

Does homeowners insurance cover flooding in Kentucky?

Homeowners insurance does not cover flood damage in Kentucky or any of the other 49 states. Kentucky residents can supplement that gap in coverage by purchasing a flood insurance policy. Flood insurance can typically be provided through the same insurance company that insures your home.

Most flood policies are sold by private companies but administered by the federal government’s National Flood Insurance Program (NFIP). An NFIP flood policy can cover up to $250,00 for the structure of your home and up to $100,000 for personal belongings.

Kentucky Department of Insurance

The Kentucky Department of Insurance is a valuable resource for Kentucky homeowners purchasing coverage for the first time and those who are already insured. The KDI website has helpful information about what to prioritize when selecting your coverage, comparing rates, preparing your home for bad weather, and you can even file a complaint if you’re unhappy with your home insurance company.

What if I can’t get homeowners insurance?

Homeowners insurance companies can cancel your insurance for a number of reasons — maybe you filed too many claims in a short period of time, maybe the insurance company no longer offers coverage where you live, or maybe they determined your home was too risky to insure after a recent inspection.

If you’re struggling to find coverage, you can get last-resort coverage via a Kentucky Fair Access to Insurance Requirements (FAIR) Plan. The Kentucky FAIR Plan is offered through the Kentucky Property Insurance Association, a not-for-profit insurance pool that provides basic coverage for Kentucky residents who are unable to get home insurance on the open market. To qualify for a FAIR Plan, you need to demonstrate that you’ve had at least three unsuccessful attempts to buy insurance from other companies.

Not where you live? We've got you covered, check out our guide to homeowners insurance in your state

Insurance Expert

Pat Howard

Insurance Expert

Pat Howard is an Insurance Editor at Policygenius in New York City, specializing in homeowners insurance. He has been featured on Property Casualty 360, MSN, and more. Pat has a B.A. in journalism from Michigan State University.

Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.

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