Average Costs and Cheapest Homeowners Insurance Companies in Kentucky

In Kentucky, the average cost of home insurance is $1,120 annually for a policy with baseline dwelling coverage of $100,000. At an average of $748 per year, Travelers provides the most affordable home insurance in the state. These averages represent a particular policy type and home type. To help you find the right home insurance for your needs, MoneyGeek analyzed costs for different types of homes and homeowners in Kentucky.

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Last Updated: 6/25/2022
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As per your needs and selected provider, home insurance premiums fluctuate. For instance, if you have a new home or a home with a pool, Allstate is the recommended provider for affordability. Those with poor credit should consider Travelers. To provide you with low cost homeowners insurance options in Kentucky, MoneyGeek gathered thousands of quotes from different providers.

If you’re looking to balance affordability with a strong service experience, MoneyGeek also scored the best home insurance companies in Kentucky.

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The Cheapest Homeowners Insurance in Kentucky

The Cheapest Homeowners Insurance Quotes in Kentucky

MoneyGeek analyzed thousands of quotes to find the most affordable homeowners insurance in Kentucky for different dwelling coverages. As per the findings, Travelers offers the cheapest home insurance policy at $748 per year, on average, at $100,000 in baseline dwelling coverage.

The cheapest insurance providers per dwelling coverage are:

  • Cheapest for $100,000: Travelers
  • Cheapest for $250,000: Travelers
  • Cheapest for $500,000: Travelers

The replacement cost of your home is the most important factor when deciding how much dwelling coverage you need. To check premiums for different dwelling coverages, toggle the table below.

CHEAPEST HOMEOWNERS INSURANCE BY DWELLING COVERAGE

Dwelling Coverage:

$100,000

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How Much Homeowners Insurance Costs in Kentucky on Average

The amount of dwelling coverage required to insure your property significantly impacts the cost of home insurance. As the replacement cost of a high value home is more costly, premiums will be more expensive for expensive homes.

In Kentucky, the baseline dwelling coverage is $100,000 for which an insurance policy will cost around $1,120 per year. Comparatively, the highest dwelling coverage amount of $3 million costs roughly $22,790.

AVERAGE COST OF HOMEOWNERS INSURANCE BY DWELLING COVERAGE

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  • Dwelling Coverage
    Average Annual Premium
  • $100,000
    $1,120
  • $250,000
    $1,908
  • $500,000
    $3,257
  • $750,000
    $4,581
  • $1,000,000
    $6,353
  • $2,000,000
    $14,936
  • $3,000,000
    $22,790

Find the Cheapest Homeowners Insurance in Kentucky With MoneyGeek’s Calculator

Multiple factors affect the cost of insurance for your home. Some common factors include the age of the house and the value of your dwelling. Other factors like distance from the fire department or the value of personal belongings covered under your policy are also taken into consideration.

You can change the dwelling coverage limits, deductible and other limits to see how the average cost of homeowners insurance in Kentucky can change.

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Home Insurance Calculator

State

Kentucky

Dwelling Coverage

$100,000

Deductible

$500

Liability

$300,000

Personal Property

$20,000

Credit Score

Excellent
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on average

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These are annual estimates. Get a personalized quote to determine your costs.

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The Cheapest Homeowners Insurance Companies for Expensive Homes

MoneyGeek gathered thousands of quotes from different insurers across different dwelling coverages, to find the cheapest homeowners insurance in Kentucky. If you need $2 million in dwelling coverage, the most affordable providers in Kentucky would be:

  • Travelers: $8,653 per year
  • Allstate: $8,832 per year

Though USAA provides the cheapest policy for homeowners with expensive homes, we didn’t include them in our ranking due to their exclusive availability to military families.

If you are looking to insure an expensive home, keep in mind that the rates can vary depending on dwelling coverage limits. To find the right fit, shop around and compare quotes from different insurance providers.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR HIGH-VALUE HOMES

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The Cheapest Homeowners Insurance Companies for Newer Homes

In Kentucky, it is cheaper to insure a newer home. Newer homes with newer materials have less wear and tear, and, if damaged, they are less costly to replace. We used a sample profile for a homeowner in Kentucky who needs $250,000 in dwelling coverage for a home built in 2015.

MoneyGeek found that, on average, the most affordable insurance policies for newer homes in Kentucky are offered by:

  • Allstate: $989 per year
  • Travelers: $1,077 per year

USAA provides the second cheapest policy for newer homes in the state. However, USAA has been excluded from our ranking due to its exclusive availability to military families.

The age of the home impacts insurance premiums. On average, for the same dwelling coverage, the rate for insuring a home built in 2000 would cost $440 more than a home built in 2015. Homeowners of newer homes generally experience lower premiums.

Note, however, that the numbers for homes built in 2000 differ from the first section due to a different ZIP code collection process.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR OLDER HOMES

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The Average Cost of Homeowners Insurance in Kentucky for Newer Homes

On average, newer homes in Kentucky cost $1,164, while those built in 2000 cost $1,604 to insure. The replacement cost of older homes rises with time as the materials used become less resistant to weather. When calculating premiums, insurance providers consider risk factors, such as water pipe damage, short circuits, electrical issues and other risks.

AVERAGE COST OF HOMEOWNERS INSURANCE BY HOME AGE

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  • Year of Construction
    Average Annual Premium
  • 2015
    $1,164
  • 2000
    $1,604

The Cheapest Homeowners Insurance Companies in Kentucky if You Have a Pool

Homeowners with pools can experience higher premiums. Pools increase the value of a home, the neighborhood and the cost of maintenance.

For Kentucky homeowners with a pool, the most affordable providers are:

  • Allstate: $1,356 per year
  • Travelers: $1,441 per year

As pools are considered an additional “structure,” they increase the value of your home, as well as the cost to repair. Keep in mind that while some insurers in Kentucky provide pool coverage within the dwelling coverage, others may require additional coverage.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR HOMES WITH A POOL

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The Average Cost of Homeowners Insurance in Kentucky for Pool Owners

In most states, having a pool increases premiums. In Kentucky, for $250,000 in dwelling coverage, having a pool would cost around $1,604 in homeowners insurance. Comparatively, without a pool, the same coverage limit would cost $1,908 per year, on average.

AVERAGE COST OF HOMEOWNERS INSURANCE WITH AND WITHOUT POOL

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  • Have a Pool?
    Average Annual Premium
  • With Pool
    $1,604
  • No Pool
    $1,604

Cheapest Home Insurance in Kentucky if You Have Poor Credit

MoneyGeek evaluated thousands of quotes to find the cheapest insurance provider in Kentucky for homeowners with poor credit.

The two cheapest insurers in Kentucky for homeowners with poor credit are:

  • Travelers: $1,270 per year
  • Allstate: $1,562 per year

In most states, poor credit history increases home insurance premiums. Homeowners with poor credit are considered more likely to file a claim and less likely to make payments on time, which in turn increases the risk of insuring the home.

CHEAPEST HOMEOWNERS INSURANCE COMPANIES FOR POOR CREDIT

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The Average Cost of Homeowners Insurance in Kentucky by Credit Score

Home insurance costs may vary depending on your credit score. While a homeowner in Kentucky with excellent credit would have to pay an average of $1,675 per year, a homeowner with poor credit would have to pay about $1,623 more at an average of $3,298 per year.

AVERAGE COST OF HOMEOWNERS INSURANCE BY CREDIT SCORE

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  • Credit Score
    Average Annual Premium
  • Poor
    $3,298
  • Below Fair
    $2,661
  • Fair
    $2,193
  • Good
    $1,903
  • Excellent
    $1,675

Cheap Homeowners Insurance Quotes in Your Kentucky City

The premiums for homeowners insurance and the cheapest company can change depending on where you live. MoneyGeek found that the average homeowners insurance premiums in Lexington and Louisville are $996 and $1,245 per year respectively, making Louisville a more expensive city for home insurance buyers.

In Lexington, the cheapest home insurance provider is Travelers. On the other hand, Allstate is the cheapest provider in Louisville. You can click on your city to learn more about homeowners insurance rates.

AVERAGE COST OF HOMEOWNERS INSURANCE BY CITY

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  • City
    Average Annual Rate
    Cheapest Company
    Average Annual Rate
  • $996
    Travelers
    $632
  • $1,245
    Allstate
    $856

How to Get Cheap Homeowners Insurance Quotes in Kentucky

When you’re ready to begin searching for the best homeowners insurance in Kentucky, keep all of your information handy to provide insurance agents to get the best quotes.

Some of the most important information to provide potential insurers include square footage of the home, age of the home (or the year in which it was built), the age of the roof, construction details and coverage needs and liabilities. Take note of any major changes made to the home, including any claims that were filed in the past five years and potential dangers in your home such as swimming pools or pets.

You can use MoneyGeek’s Kentucky home insurance calculator to get an anonymous estimate, which compiles thousands of quotes from different providers.

FAQs About Home Insurance Costs in Kentucky

In Kentucky, the cost of homeowners insurance will depend on your situation and the company you choose to insure your home. MoneyGeek has answered some of the most commonly asked questions regarding homeowners insurance to help you determine the best provider and policy for your home.

Methodology

MoneyGeek analyzed homeowners insurance premiums from 10 of the top insurance companies in Kentucky that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Kentucky. Quotes were gathered with an average home profile of 2,500 square feet, built-in 2000, with an average dwelling coverage value of $500,000, liability coverage of $100,000 and personal property coverage of $100,000.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.