Best Homeowners Insurance in Kentucky

On average, your neighbors pay $145 a month.

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Compare Homeowners Insurance In Kentucky

We studied the home insurance market in Kentucky and found that the cheapest home insurer in the state is USAA with an average premium of $1,657. Although Kentucky's average premium of $3,212 is higher than the national average, some insurers offer cheaper rates. Because rates, customer service and coverage vary across the top companies, it's important to compare them on multiple levels.

In this article:

Cost of homeowners insurance in Kentucky

We collected quotes from every ZIP code in Kentucky from four insurers. Kentuckians pay an average $268 per month for homeowners insurance.

  Kentucky U.S.

Annual rates

$3,212

$1,735

Monthly rates

$268

$145

Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

One way to lower your premium is by increasing your deductible. The higher your deductible, the lower your premium. Increasing your deductible from $500 to $2,000 can reduce your premium by 10%. Below are average home insurance premiums based on different deductibles.

Deductible Average annual premium

$500

$3,287

$1,000

$3,212

$1,500

$3,049

$2,000

$2,973

Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Cheapest homeowners insurance companies in Kentucky

The cheapest home insurance company in Kentucky is USAA, according to our research. Since premiums vary widely between insurance companies, we recommend comparing quotes from multiple insurers.

 

Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Kentucky Farm Bureau's average premium is more than double USAA's average premium.

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Best homeowners insurance companies in Kentucky

To help you find the best insurance company for your situation, we reviewed the top companies in Kentucky. State Farm and USAA stood out as great options, each for their own reasons.

State Farm: best overall value

State Farm takes our top spot in Kentucky for its balance of fair rates, above-average customer satisfaction and great coverage. State Farm's average cost in Kentucky is $2,401 a year, which is about $811 below the Kentucky average. For that price, you'll get standard homeowners insurance coverage, access to its claims service 24 hours a day and above-average customer service. State Farm received an 835 out of 1,000 on J.D. Power's 2021 U.S. Home Insurance Study for customer satisfaction, which was the fourth highest score in the study.

NAIC's Complaint Index measures the amount of complaints a company receives relative to its size. A lower Complaint Index indicates better performance. In 2020, State Farm had a Complaint Index of 0.74, which means that it receives fewer complaints than expected for a company of its size.

USAA: best for military and cheap rates

To qualify for USAA insurance, you must be an active military service member, veteran or immediate family member. But for those who qualify, USAA offers best-in-class service and cheap rates in Kentucky.

USAA's homeowners insurance rates average $1,657 a year in Kentucky, more than $1,500 below the state average. For that price, you'll receive excellent customer service. USAA received a score of 882 out of 1,000 in J.D. Power's 2021 U.S. Home Insurance Study. USAA also has a NAIC Complaint Index of 0.73. These ratings suggest that USAA's customers have an all-around great experience with the company.

USAA's homeowners insurance policies provide service members and veterans with coverage that fits their unique needs. For example, personal property protection covers damage to military uniforms. That's just one way USAA serves the more than 250,000 veterans who live in Kentucky.

Home insurance rates in Kentucky by location

Bowling Green has the highest home insurance rates of the cities we considered, at $2,440 a year, while Georgetown has the least expensive premiums, at $1,771 per year. Here are Kentucky homeowners insurance rates by city.

Home insurance rates in Kentucky by city
City Average annual premium

Louisville

$2,300

Lexington

$1,849

Bowling Green

$2,440

Owensboro

$2,083

Covington

$1,840

Richmond

$1,939

Georgetown

$1,771

Florence

$1,841

Nicholasville

$1,799

Elizabethtown

$2,314

Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Campbell has the lowest average annual premium among the counties we considered, at $1,738 a year. Here are Kentucky homeowners insurance rates by county.

Home insurance rates in Kentucky by county
County Average annual premium

Jefferson

$2,285

Fayette

$1,854

Kenton

$1,885

Warren

$2,471

Boone

$1,813

Hardin

$2,432

Daviess

$2,301

Madison

$2,025

Campbell

$1,738

Bullitt

$2,328

Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

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Homeowners insurance perils in Kentucky

Kentucky's climate is mild compared to some surrounding states. It is landlocked, so it doesn't experience severe storms off the Atlantic Ocean. Still, Kentucky is no stranger to cold winters, storms and floods.

Tornadoes

Kentucky is prone to tornadoes. According to Courier Journal, there were 26 tornadoes in Kentucky in 2020 that resulted in over $4 million in damage. Luckily, homeowners insurance typically covers damage from storms such as tornadoes. To help lower your risk of experiencing severe tornado damage, we recommend reinforcing your roof and installing storm shutters.

Cold winters

Kentucky's winters aren't as cold as in the northern states, but average temperatures can still drop below freezing for long stretches. Cold snaps may concern homeowners for a few reasons: snow accumulation, frozen pipes and slippery conditions.

Snow accumulation on roofs, garages and porches can cause collapse. While it is common for homeowners insurance to cover such a loss, it's always better to prevent claims in the first place. That's why we recommend keeping your home as clear from snow accumulation as possible. Freezing temperatures can put an extra strain on plumbing, too. We recommend taking the proper precautions to prevent plumbing from bursting, though this is also frequently covered by homeowners insurance.

Floods

Kentucky is in the middle of the pack when it comes to flood claims. The National Flood Insurance Program, or NFIP, paid just under $200 million in flood damage to Kentucky between 1996 and 2016, the 18th largest sum of any state. In 2021, Kentucky had the 19th most claims in the country. That indicates Kentucky's flood risk is far from nonexistent, but isn't as severe as in coastal states.

According to FEMA, there are 18,722 flood insurance policies in force in Kentucky, meaning that only about 0.4% of the state's population has an NFIP flood insurance policy. The average flood insurance rate in Kentucky is $1,109 per year, slightly higher than the U.S. average by $151. If NFIP flood insurance is too expensive, we recommend exploring private flood insurance, which sometimes offers more reasonable rates for lower-risk homes.

Methodology

We aggregated thousands of quotes from every ZIP code in Kentucky. We used the following policy specifications:

  • Dwelling coverage: $275,000
  • Personal property coverage: 50% of dwelling ($137,500)
  • Other structures coverage: 10% of dwelling ($27,500)
  • Loss of use coverage: 20% of dwelling ($55,000)
  • Liability coverage: $100,000
  • Deductible: $1,000, unless otherwise noted

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