Cheapest Homeowners Insurance in Kentucky (2024 Rates)


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ByMark Fitzpatrick
Edited byBenjamar Gabawa
ByMark Fitzpatrick
Edited byBenjamar Gabawa

Updated: May 22, 2024

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Various providers in Kentucky offer cost-effective options for different coverage needs. For instance, AAA provides the most economical option for coverage under $100K. In comparison, Westfield Insurance provides competitive rates for those seeking $1 million in coverage. ASI emerges as the most budget-friendly choice for insuring newer homes, while Cincinnati Insurance takes the lead for individuals with poor credit scores or a history of claims.

MoneyGeek Logo IconCheapestHome InsuranceKentucky
2024

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Why Trust MoneyGeek? MoneyGeek used information from the Kentucky Department of Insurance and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in Kentucky as of 2024.

Overall Cheapest Homeowners Insurance in Kentucky

In Kentucky, AAA offers the cheapest home insurance for $100K dwelling coverage with an annual premium of $898. Remember, rates can fluctuate significantly based on your dwelling coverage. The most affordable options in Kentucky include:

  • Cheapest for $100,000: AAA at $898 per year
  • Cheapest for $250,000: Cincinnati Insurance at $1,701 per year
  • Cheapest for $500,000: Westfield Insurance at $2,430 per year

Dive deeper into cheap home insurance options with MoneyGeek's table detailing how costs alter by dwelling coverage.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
AAAAnnual Premium$898
Cincinnati InsuranceAnnual Premium$991
ASIAnnual Premium$1,070
State FarmAnnual Premium$1,162
NationwideAnnual Premium$1,175
Auto-Owners InsuranceAnnual Premium$1,258
EncompassAnnual Premium$1,536
Westfield InsuranceAnnual Premium$1,606

Compare Kentucky Home Insurance Quotes Online

For affordable home insurance in Kentucky, it's wise to compare quotes from multiple insurers. MoneyGeek’s home insurance calculator simplifies this, offering Kentucky quotes without needing personal details first.

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Jun 13, 2024

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California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000
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California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000

Cheapest Home Insurance in Kentucky for High-Value Homes

High-value homes in Kentucky can find the cheapest home insurance with Westfield Insurance. With an annual premium of just $2,800 for $750K in dwelling coverage, it's the most affordable option for such homes. Higher dwelling coverage often means higher insurance costs. The more affordable options are:

  • Cheapest for $750,000: Westfield Insurance at $2,800 per year
  • Cheapest for $1,000,000: Westfield Insurance at $3,159 per year

We recommend homeowners consider the cost of rebuilding their home rather than its property value. See how dwelling coverage affects home insurance costs in our table of comparisons.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
Westfield InsuranceAnnual Premium$2,800
Cincinnati InsuranceAnnual Premium$3,860
Auto-Owners InsuranceAnnual Premium$4,337
State FarmAnnual Premium$4,804
ASIAnnual Premium$4,853
EncompassAnnual Premium$5,622
NationwideAnnual Premium$7,283
AAAAnnual Premium$7,329

Cheapest Home Insurance in Kentucky for New Homes

The most affordable home insurance company in Kentucky for new homes is ASI, with an annual cost of $317 for $100K in dwelling coverage. New homes in Kentucky typically have lower insurance costs. This is due to modern construction techniques and materials being considered more robust and safer by insurance companies, reducing potential claims risks.

According to our comprehensive study, the companies offering the lowest rates for new homes in Kentucky are as follows:

  • Cheapest for $100,000: ASI at $317 per year
  • Cheapest for $250,000: ASI at $523 per year
  • Cheapest for $500,000: ASI at $826 per year

For more detailed breakdowns and how costs alter for newly constructed homes by dwelling coverage, refer to MoneyGeek's table.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ASIAnnual Premium$317
AAAAnnual Premium$435
Cincinnati InsuranceAnnual Premium$469
NationwideAnnual Premium$694
State FarmAnnual Premium$697
Auto-Owners InsuranceAnnual Premium$815
EncompassAnnual Premium$998
Westfield InsuranceAnnual Premium$1,121

Cheapest Home Insurance in Kentucky for Low Credit Scores

In Kentucky, Cincinnati Insurance stands out as the most affordable home insurance provider for individuals with poor credit, costing around $1,005 annually for $100K in dwelling coverage. Credit scores are pivotal in determining home insurance rates, as they help insurers gauge the risk of policyholder default.

  • Cheapest for $100,000: Cincinnati Insurance at $1,005 per year
  • Cheapest for $250,000: Cincinnati Insurance at $1,724 per year
  • Cheapest for $500,000: Cincinnati Insurance at $2,840 per year

The influence of poor credit on insurance rates is evident, with an average annual cost of $5,861 for $100K in dwelling coverage, in stark contrast to the $1,212 average for those with good credit.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Cincinnati InsuranceAnnual Premium$1,005
ASIAnnual Premium$1,544
EncompassAnnual Premium$2,645
AAAAnnual Premium$2,663
Westfield InsuranceAnnual Premium$2,680
NationwideAnnual Premium$3,013
State FarmAnnual Premium$3,055
Auto-Owners InsuranceAnnual Premium$30,284

Cheapest Home Insurance in Kentucky With a Claims History

The most affordable home insurance in Kentucky if you've had one claim in the past five years is Cincinnati Insurance, costing $1,239 annually for $100K in dwelling coverage. Remember, homeowners with a history of claims often face higher future insurance costs.

Here are the most affordable companies for different coverage levels:

  • Cheapest for $100,000: Cincinnati Insurance at $1,239 per year
  • Cheapest for $250,000: Auto-Owners Insurance at $1,859 per year
  • Cheapest for $500,000: Westfield Insurance at $2,524 per year

Also, note that the average annual premium for homeowners in Kentucky with no claims in the past five years is $484 less than those with two claims for $100K in dwelling coverage. This demonstrates that there's indeed a price spike associated with multiple claims. Understanding this is especially significant to Kentucky homeowners, given the state's potential for natural disasters.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Cincinnati InsuranceAnnual Premium$1,239
Auto-Owners InsuranceAnnual Premium$1,258
ASIAnnual Premium$1,265
State FarmAnnual Premium$1,326
AAAAnnual Premium$1,508
NationwideAnnual Premium$1,554
Westfield InsuranceAnnual Premium$1,669
EncompassAnnual Premium$1,796

Cheapest Home Insurance in Kentucky by Home and Roof Materials

The construction and materials of your roof directly influence homeowners insurance rates. A frame home type with a shake-treated roof in Kentucky will see the lowest annual premium from Cincinnati Insurance, which is $925 annually. This cost is attributed to the inherent risks, such as susceptibility to weather damage associated with these materials, that may lead to more insurance claims.

Here are the cheapest options per coverage value in Kentucky:

  • Cheapest for $100,000: Cincinnati Insurance at $925 per year
  • Cheapest for $250,000: Cincinnati Insurance at $1,587 per year
  • Cheapest for $500,000: Westfield Insurance at $2,446 per year

Homes with superior construction and tile roofs incur lower insurance costs due to their resiliency to Kentucky weather conditions. This results in an average savings of $316 annually compared to frame construction homes with shake-treated roofs.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Cincinnati InsuranceAnnual Premium$925
AAAAnnual Premium$1,032
State FarmAnnual Premium$1,162
NationwideAnnual Premium$1,272
ASIAnnual Premium$1,424
EncompassAnnual Premium$1,536
Auto-Owners InsuranceAnnual Premium$1,542
Westfield InsuranceAnnual Premium$1,617

Cheapest Home Insurance in Kentucky by Deductible

Changing your deductible could save you hundreds annually. In Kentucky, the cheapest home insurance with a $2,000 deductible is Cincinnati Insurance at $814 per year, compared to the least expensive $500 deductible, AAA, which costs $971 annually. The least expensive companies in Kentucky for each deductible level are:

  • $2,000 deductible: Cincinnati Insurance at $814 per year
  • $1,500 deductible: AAA at $864 per year
  • $1,000 deductible: AAA at $898 per year
  • $500 deductible: AAA at $971 per year

In home insurance, a deductible is your out-of-pocket cost before insurance coverage begins. Homeowners in Kentucky can save an average of $215 per year by having a $2,000 deductible instead of a $500 one. Still, it's only best to do so if you can shell out the money if you incur damages from a covered event.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Cincinnati InsuranceAnnual Premium$814
AAAAnnual Premium$839
ASIAnnual Premium$917
NationwideAnnual Premium$922
State FarmAnnual Premium$1,070
Auto-Owners InsuranceAnnual Premium$1,223
EncompassAnnual Premium$1,240
Westfield InsuranceAnnual Premium$1,369

Cheapest Home and Auto Insurance Bundle in Kentucky

State Farm is Kentucky's most affordable home and auto insurance bundle, offering an average of $2,434 per year. By bundling home and auto insurance, providers will likely offer you a discount.

  • State Farm at $2,434 per year
  • Nationwide at $2,566 per year

Besides the savings, bundling enhances convenience by consolidating your policies under one insurer. You'll also simplify your insurance dealings with a single point of contact. Explore more about the best Kentucky insurance bundle to reap the benefits.

State FarmAnnual Premium$2,434
NationwideAnnual Premium$2,566
Auto-Owners Insurance CoAnnual Premium$2,614
EncompassAnnual Premium

Cheapest Home Insurance in Kentucky by City

AAA is the least expensive home insurance provider in most Kentucky cities, offering rates from $643 to $895. Broad differences in expenses across cities are attributed to factors such as local building codes, crime rates and weather threats. Specifically:

  • Lexington-Fayette has the lowest annual premium in Kentucky, which is $643.
  • Bowling Green has the highest annual premium of $895.

It is invaluable to shop around since insurance providers account for unique factors when calculating rates for various geographical areas, leading to potential savings.

Bowling GreenCheapest CompanyAAAAnnual Premium$895
Lexington-FayetteCheapest CompanyAAAAnnual Premium$643
Louisville/JeffersonCheapest CompanyAAAAnnual Premium$871

About Mark Fitzpatrick


Mark Fitzpatrick headshot

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.