Average Cost of Homeowners Insurance in Kentucky (2024)


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Updated: May 22, 2024

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The average cost of homeowners insurance in Kentucky in 2024 is $2,060. This amount is $363 less than the national average of $2,423. Aside from the amount of coverage you get, credit rating has the largest impact on premiums in Kentucky. The difference between the lowest and highest premium amounts due to credit can be up to $7,579.

If your rates have recently increased, we've also analyzed the cheapest policies in the state. Remember, the insurance provider you choose can also affect your premiums.

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Rates updated:

Jul 19, 2024

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To establish the average cost of homeowners insurance in Kentucky, MoneyGeek used quotes from various providers for a profile that reflects the average homeowner.

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These rates reflect the average cost of home insurance in Kentucky as of 2024.

1.04 MQuotes Analyzed
 
8Companies Compared
 
10ZIP Codes

Average Cost of Home Insurance in Kentucky by Coverage Amount

In Kentucky, the average annual premium for homeowners insurance with $250K Dwelling / $125K Personal Property / $200K Liability coverage is $2,060, which is less than the national average of $2,423.

Determining how much coverage you need involves ensuring you can rebuild your home and replace personal property after a loss. For example, a Kentucky homeowner with $100K in dwelling coverage pays an annual premium of $1,212. For a larger property with $500K in dwelling coverage, the premium increases to $3,564.

Average Annual Home Insurance Premium New Jersey by Coverage Amount
$100K Dwelling / $50K Personal Property / $100K LiabilityAverage Annual Premium$1,212
$250K Dwelling / $125K Personal Property / $200K LiabilityAverage Annual Premium$2,060
$500K Dwelling / $250K Personal Property / $300K LiabilityAverage Annual Premium$3,564
$750K Dwelling / $375K Personal Property / $500K LiabilityAverage Annual Premium$5,111

Average Cost of Home Insurance in Kentucky by Insurer

Premiums for homeowners insurance in Kentucky can significantly differ among insurers, even for similar levels of coverage. For instance, a policy from Cincinnati Insurance may cost less than one from Encompass, reflecting a range of underwriting criteria and risk assessments.

Kentucky homeowners can choose from a variety of great providers, each with its unique pricing structure. Differences in underwriting can lead to substantial variations in annual premiums, making it wise to compare options.

Average Annual Home Insurance Premium New Jersey by Provider
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Cincinnati InsuranceAnnual Premium$1,701
Auto-Owners InsuranceAnnual Premium$1,859
AAAAnnual Premium$1,959
Westfield InsuranceAnnual Premium$1,967
NationwideAnnual Premium$2,065
ASIAnnual Premium$2,106
State FarmAnnual Premium$2,141
EncompassAnnual Premium$2,685

Average Cost of Home Insurance in Kentucky by Credit Score

Homeowners in Kentucky with excellent credit pay an average annual premium of $1,692 for homeowners insurance, which is $368 less than the overall state average of $2,060. Conversely, those with poor credit face an average premium of $9,271, soaring $7,211 above the state average, demonstrating how credit scores directly impact insurance rates.

While improving your credit score takes time, it can lead to lower insurance rates in the future. For immediate savings, it's beneficial to shop around and compare insurers. You can quickly see which insurer offers the most competitive rates for your profile and potentially find a more affordable option in less than 15 minutes.

Average Annual Home Insurance Premium in NJ by Credit Rating
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
PoorAnnual Premium$9,271
Below FairAnnual Premium$4,598
FairAnnual Premium$2,772
GoodAnnual Premium$2,060
ExcellentAnnual Premium$1,692

Average Cost of Home Insurance in Kentucky by Construction and Roof Type

The type of roof on your home can influence your homeowners insurance premiums in Kentucky. For instance, tile roofs, known for their durability, may lead to lower insurance costs. However, shake-treated roofs, which are more vulnerable to weather-related damage, can increase premiums.

Construction materials used in building your home also affect insurance rates. Superior construction materials that are more resistant to hazards like fire may result in more favorable premiums. Standard frame construction, which is less resistant to damage from severe weather events, might lead to higher insurance costs.

Use the drop-downs on the table below to see how premiums change based on your home's materials.

Average Annual Home Insurance in New Jersey by Construction and Roofing Type
Data filtered by:Results filtered by:
Construction:
Construction:Frame
Roof Type:
Roof Type:Composition
$100K Dwelling / $50K Personal Property / $100K LiabilityAnnual Premium$1,212
$250K Dwelling / $125K Personal Property / $200K LiabilityAnnual Premium$2,060
$500K Dwelling / $250K Personal Property / $300K LiabilityAnnual Premium$3,564
$750K Dwelling / $375K Personal Property / $500K LiabilityAnnual Premium$5,111
$1M Dwelling / $500K Personal Property / $1M LiabilityAnnual Premium$6,558

Average Cost of Home Insurance in Kentucky for Newly Constructed Homes

Insuring a new construction home in Kentucky typically costs less than an existing home, reflecting the benefits of modern materials and adherence to current building codes. Homeowners in Kentucky can expect to pay an average annual premium of $1,125 for new construction. This is $935 lower than the average premium for existing homes. The table below details how premiums vary between new and existing homes, allowing you to filter for the desired coverage amount.

Average Annual Home Insurance Premiums: New vs. Existing Construction
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Existing Construction (2000)Annual Premium$2,060
New Construction (2023)Annual Premium$1,125

Average Cost of Home Insurance in Kentucky by Claims History

In Kentucky, homeowners with a claim-free history for five or more years pay an average annual premium of $2,060 for their homeowners insurance. Those who have filed one claim in the past five years see their rates increase to an average of $2,515, while homeowners with two claims within the same period face an even steeper average premium of $2,985. This data illustrates how maintaining a claim-free record can be financially beneficial, as each claim can significantly affect insurance costs.

Average Annual Home Insurance in New Jersey by Claims Experience
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Claim free for 5+ yearsAnnual Premium$2,060
1 claim in past 5 yearsAnnual Premium$2,515
2 claims in past 5 yearsAnnual Premium$2,985
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KENTUCKY NATURAL DISASTERS AND HOME INSURANCE

In Kentucky, tornadoes, earthquakes, landslides and hurricanes are major risks for homeowners. Tornado damage is usually covered by homeowners insurance, but earthquake and flooding damage is not covered. To protect your home and belongings from floods or earthquakes, you need to buy separate insurance.

Average Cost of Home Insurance by City in Kentucky

For the cities we analyzed, we found premiums ranging from $1,655 to $2,097. In Bowling Green, homeowners pay around $2,097 annually, while Lexington-Fayette residents see lower rates at $1,655. Louisville/Jefferson's average is close to the state's overall average at $2,011. Location impacts premiums due to factors like local crime rates and weather risks. City-based pricing variations are significant but not as influential as credit score or coverage amount differences.

Average Annual Home Insurance Premium by City
Data filtered by:Results filtered by:
Coverages:
Coverages:$250K Dwelling / $125K Personal Property / $200K Liability
Bowling GreenAnnual Premium$2,097
Lexington-FayetteAnnual Premium$1,655
Louisville/JeffersonAnnual Premium$2,011

How to Shop for Home Insurance in Kentucky

Shopping for home insurance in Kentucky doesn't have to be a hassle. In fact, it can be quite straightforward to snag a great deal on your policy. Just like finding the perfect pair of shoes, it's all about knowing your size and where to shop. Here's how to find the best deal for you.

1
Understand Your Needs

Decide what you want to protect.

2
Assess Your Coverage

Figure out how much coverage you need with this guide.

3
Compare Quotes

Shop around and compare quotes online.

4
Check for Discounts

Ask about bundles and discounts.

5
Review Companies

Look at customer service and claims experience.

6
Choose a Policy

Pick the best option for your home.

Bundling Home Insurance With Auto Insurance in Kentucky

In Kentucky, homeowners can potentially save on insurance costs by bundling their home and auto policies. According to MoneyGeek’s analysis, the average savings from a multipolicy bundle range from $243 to $743, with an average percentage savings of about 14%. For more detailed insights, explore MoneyGeek's best and cheapest home and auto bundle companies in Kentucky analysis. This strategy not only simplifies your insurance management but also offers a financial break on the combined cost of your auto and home insurance premiums.

Home Insurance Discounts in Kentucky

Kentucky offers several homeowners insurance discounts to help reduce premiums.

  • Impact-resistant roofing: Installing shingles that resist hail and wind can lower rates.
  • Home safety features: Smoke detectors, burglar alarms and deadbolts may offer savings.
  • Claims-free history: Longer periods without filing a claim can significantly cut costs.

For a comprehensive look at how to save with discounts, explore our guide on how to shop and save on homeowners insurance. Remember, to maximize your discounts, it's important to inquire about them when obtaining a quote.

FAQ: Homeowners Insurance in Kentucky

On average, what is the cheapest insurer in Kentucky?
Is tornado coverage included in Kentucky homeowners insurance?
Is flood coverage included in Kentucky homeowners insurance?
What is the biggest factor that impacts the price of homeowners insurance in Kentucky?
In Kentucky, how much can I save on average by bundling my homeowners insurance with auto?

Additional Resources for Homeowners Insurance in Kentucky

Use these links to learn more about insurance coverage in Kentucky.

About Mark Fitzpatrick


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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.