Best Home Insurance Rates In Kentucky

On average, your neighbors pay $88 a month.

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Compare Homeowners Insurance In Kentucky

The Bluegrass State is famous for its college basketball, horse racing, and bourbon. That said, its unique location between the Midwest and the Deep South leads to some unique homeowners insurance risks to consider.

Average Kentucky Homeowners Insurance Rates

How much is home insurance in Kentucky? Kentucky is in the middle when it comes to homeowners insurance premiums. The average cost of homeowners insurance in the state of Kentucky is $1,062. That's just slightly lower than the national average of $1,173. 24 states have lower average home insurance rates than Kentucky.

Kentucky Average Annual Homeowners Insurance Rates
  2013 2014 2015
Kentucky Annual Average $981 $1,023 $1,062
Kentucky Price Per Month $82 $85 $88
US Annual Average $1,096 $1,132 $1,173
US Cost Per Month $91 $94 $98
National Rank 24 24 27

The graph below shows the change in average Kentucky home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Kentucky homeowners insurance rates increased from $839 in 2011 to $1,062 in 2015, a jump of $223 dollars, or 26.58 percent.

Kentucky average homeowners insurance rates

Choosing a homeowners insurance company in Kentucky should be easier. Actually, it’s already easy. The key to finding the best rates is to get a homeowners insurance quotes comparison in Kentucky from multiple companies.

Kentucky Home Insurance Companies

Last year, these were the 10 most common home insurance companies reported by QuoteWizard users living in the state of Kentucky. Out of the 12,058 Kentucky homeowners that used QuoteWizard to request insurance quotes last year, 832 had no home insurance.

  1. Allstate Insurance
  2. Liberty Mutual
  3. Progressive Casualty
  4. Farmers
  5. AAA Insurance Co.
  6. Geico
  7. Nationwide
  8. USAA
  9. Safeco
  10. 21st Century
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Why contact every insurer in Kentucky you want a homeowners quote from? You can just answer a few questions about your home and desired coverage, and get competing quotes. Save time and money with QuoteWizard.

Top 10 Kentucky Home Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Direct Premiums Written (in thousands) Market Share
1 Kentucky Farm Bureau Mutual Insurance $230,318 22.6%
2 Liberty Mutual $98,721 9.7%
3 Allstate $70,197 6.9%
4 USAA Insurance Group $38,979 3.8%
5 State Auto Insurance Companies $31,111 3.1%
6 Auto-Owners Insurance Co. $28,772/td> 2.8%
7 Travelers Companies Inc. $27,791 2.7%
8 Nationwide Mutual Group $26,992 2.7%
9 Cincinnati Financial Corp. $24,669 2.4%

Financial Strength Ratings of Top Kentucky Home Insurers

Source: A.M. Best (Ratings as of 8/24/2015)

  • Kentucky Farm Bureau Group: A
  • Liberty Mutual: A
  • Allstate: A+
  • USAA Insurance Group: A++
  • State Auto Insurance Companies: NR
  • Auto-Owners Insurance Co.: A++
  • Travelers Companies Inc.: A++
  • Nationwide Mutual Insurance Co.: A+
  • Cincinnati Financial Group: A+
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Rating Guide

Kentucky Property & Casualty* Insurance Company Market Share

Source: National Association of Insurance Commissioners
Rank Company Direct Premiums Written (in thousands) Market Share
1 Kentucky Farm Bureau Group $901,261 14.0%
2 Liberty Mutual $505,375 7.8%
3 Allstate $262,827 4.1%
4 Travelers Companies Inc. $221,150 3.4
5 Geico $213,507 3.3%
6 Progressive Group $191,385 3.0%
7 Nationwide Mutual Insurance Co. $160,922 2.5%
8 United Service Automobile Assurance Co. $151,783 2.4%
9 Cincinnati Financial Group $150,088 2.3%
*Represents both home and auto insurance

Home Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in Kentucky.

Average Home Listing Prices in Kentucky

Home prices can greatly affect the cost of insurance in any given state. A higher average home price usually means higher premiums in that state. For Kentucky, the average listing price is $195,540 as of July 2015, substantially lower than the national average of $284,748.

Average Burglary Rates in Kentucky

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average home insurance premiums. That's because the likelihood that someone will need to file a claim is higher. According to data from the FBI Uniform Crime Report, in 2013, Kentucky’s average burglary rate was 596.4 per 100,000 people. That's only slightly lower than the national average of 610.0 per 100,000.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In Kentucky, there are 42.9 law enforcement personnel per 100,000 total citizens. This is a bit higher than the national median of 32 per 100,000.

Kentucky Home Insurance Hazards

Kentucky’s climate, like the location of the state, is in between the Deep South and the Midwest. So, the weather is more mild here than in neighboring states, especially in the winter. That said, extreme weather does occur, and can be a homeowners insurance hazard.

Hot, humid summers: Summers in Kentucky are very hot and very humid. Temperatures frequently reach about 90 degrees, with about 90% humidity. Western Kentucky tends to get a bit hotter than eastern Kentucky. For example, at Kentucky Dam Village, on the west, the August average high is 93 degrees. To contrast, in Ashland, on the east side, the August average high is 85, which is still quite hot, though much cooler. Humidity is consistently high throughout.

The combination of heat and humidity is incredibly uncomfortable, as humidity makes heat feel even hotter. This effect is quantified using the heat index, a table that compares heat and humidity rates to determine how it really feels. For example, August in Louisville is on average 88 degrees with 80% humidity. According to the heat index, these conditions really feel like 106 degrees. This is because humid heat prevents the human body from cooling itself down as effectively, and is thus a homeowners insurance and personal hazard.

Thunderstorms: Kentucky is prone to thunderstorms, especially in the spring and early summer. Northern parts of the state receive less rain than the rest of the state, and eastern regions receive the most. While the average rainfall varies in different parts of Kentucky, overall it reaches about 48 inches per year on average. Cities in eastern Kentucky receive on average about 133 days of rain per year, and on the western side, they receive fewer: about 107. Heavy spring rains with wind, thunder, and lightning can pose a serious safety hazard, and can be very hazardous. They bring hail, wildfire, flash floods, and even tornadoes. It's important to note that the only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here. And, Kentucky has experienced some severe floods in the past, such as the famous 1997 flooding of early March.

Tornadoes: According to the National Oceanic and Atmospheric Administration, Kentucky averages 10 tornadoes per year. The National Weather Service ranked Kentucky as the #18 most tornado-prone state in 2012. Tornadoes are extremely violent and damaging storms, that usually are the by-product of thunderstorms and other storms. A strong tornado has winds over 100 mph. They can travel for miles without slowing down, especially in flat areas like the southeastern plateaus of Kentucky. Severe tornadoes can rip homes from their foundations and destroy infrastructure, and even weak tornadoes can uproot trees and cause damage to homes. Kentucky has experienced some extreme tornadoes in its history. Most recently, the March 2012 tornado outbreak involved 70 tornadoes over four states, causing 41 deaths, all within two days.

Kentucky Office of the Insurance Commissioner

Insurance Commissioner:
Sharon P. Clark
Insurance Hotline:
(800) 595 - 6053
Office Hours:
Monday - Friday
8:00 am to 4:30 pm
File a Consumer Insurance Complaint
Complaint Page

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