Cheapest and Best Homeowners Insurance in Kentucky as Rated by Customers in 2023
Unfortunately, there are many perils your home can face that may result in damage that requires a homeowners insurance claim. If you’ve ever filed a homeowners insurance claim, you know the importance of having a company you can trust to help the situation. In the event you may need to file a claim, don’t you want to feel confident you’ve protected your home with one of the best Kentucky homeowners insurance companies?
To help you find the right homeowners insurance company for you, we have reviews and rankings for hundreds of homeowners insurance companies so you can evaluate and compare the best Kentucky home insurance companies. In the table above, you can sort through every homeowners insurance company ranked on Clearsurance. Next to each insurer you’ll find the company’s rating, which is based exclusively on the reviews and ratings provided by customers. Note: Only those companies with at least 25 homeowners insurance reviews are eligible to appear in the best Kentucky homeowners insurance rankings.
If you’re looking for additional information on one of the best homeowners insurance companies in Kentucky, you can visit the company’s profile page where you’ll learn about the company, additional coverages and potential discounts offered. You can also read reviews to see what other policyholders have to say about the home insurance company.
On this page:
- Best homeowners insurance rates in Kentucky for a $200K dwelling
- Best homeowners insurance rates in Kentucky for a $400K dwelling
- Kentucky property crime statistics
- Kentucky disaster statistics
Cincinnnati Insurance Company offers the cheapest homeowners insurance rates in Kentucky for a $200K home, on average.
In the table below, you can compare the average home insurance rates for five companies in the state.
|Company||Average rates for $200K dwelling|
|Cincinnati Insurance Company||$925|
|Kentucky Farm Bureau||$2,303|
|State Farm Insurance Company||$1,700|
These rates are based on a $200,000 dwelling with the following coverage limits: $100,000 personal property, $20,000 loss of use, $20,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Kentucky will differ. Rate data is provided by Quadrant Information Services.
Of some of the largest companies in Kentucky, Liberty Mutual offers the cheapest homeowners insurance rates for a $400K Kentucky home.
Compare the average homeowners insurance rates in Kentucky for five companies in the table below.
|Company||Average rates for $400K dwelling|
|Cincinnati Insurance Company||$1,606|
|Kentucky Farm Bureau||$4,824|
|State Farm Insurance Company||$2,682|
These rates are based on a $400,000 dwelling with the following coverage limits: $200,000 personal property, $40,000 loss of use, $40,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Kentucky will differ. Rate data is provided by Quadrant Information Services.
Theft and vandalism or malicious mischief are among the 16 perils a standard homeowners insurance policy protects you from. So, how does crime in Kentucky compare to other states around the country? The FBI published the following statistics on crime in Kentucky for 2016:
- Property crime - 97,158
- Burglary - 20,834
- Larceny theft - 66,438
Kentucky’s property crime rate and larceny theft rate, per 100,000 inhabitants, rank below the national average. While Kentucky’s burglary rate is in line with the national average.
Weather-related incidents are typically among the costliest homeowners insurance claims. FEMA has published statistics for each state since 1953. Data is updated through August 2018. Here’s a look at the Kentucky federally declared disasters since 1953:
- Severe storm - 29
- Flood - 22
- Fire - 8
- Snow - 5
- Tornado - 5
- Severe ice storm - 2
- Hurricane - 1
How are homeowners insurance rates calculated in Kentucky?
Ever wonder why you pay what you do to insure your Kentucky home? Some things may be obvious, like the age of your home. But other factors that contribute to the price of homeowners insurance may not be as obvious. Here’s a list of some of the things homeowners insurance companies consider when quoting you a rate:
- The level of coverage required
- The size of your mortgage
- Your credit score
- The square footage of your home
- The geographic location of your home in Kentucky
- The condition of your home
- The age of your home
- The proximity of your home to a fire station
- Your previous claims record
- The amount of your deductible
- Optional add-ons like umbrella insurance
Zillow estimates that homeowners can expect to pay approximately $35 each month for every $100,000 of your home's value.
Buying homeowners insurance in Kentucky is important because the state experiences some of the world's most extreme weather. Kentucky homeowners pay a higher cost of homeowners insurance for dwelling coverage than the national average cost due to the increased potential of damages resulting from natural disasters. Kentucky also has higher homeowners insurance premium compared to neighbouring states, because of the state's risk of weather-related damages including wind damage caused by tornadoes, and flood damage caused by heavy rains.
Standard coverage options include personal property coverage, liability coverage and medical payments to provide additional protection. However, homeowners may want to consider additional coverage such as flood insurance, wind damage coverage, water backup coverage, identity theft coverage to prevent losses from weather related disasters.
How does Clearsurance rate and rank the best homeowners insurance companies in Kentucky?
Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:
- Customer Service
- Claim service
- Likelihood to renew
The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.
The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.
Homeowners Insurance Guide
Your home is likely your most valuable asset, making it that much more important that you insure your home with one of the best Kentucky homeowners insurance companies. But beyond just picking a company, it’s crucial to have the right coverage and to understand that coverage. Did you know that a standard homeowners insurance policy has six types of coverage? And did you know that there are usually 16 types of perils found in a homeowners insurance policy?
At Clearsurance, we want to make sure you have a strong understanding of your homeowners insurance coverage and what it all means. Check out our homeowners insurance guide to become a smarter insurance customer. And for more educational content on other homeowners insurance topics, check out our homeowners insurance blog!
Frequently Asked Questions
Who offers the best homeowners insurance rates in Kentucky for a $200K home?
Liberty Mutual offers the cheapest homeowners insurance rates in Kentucky for a $200K home, on average. However, you must note that every company offers different coverages, discounts and rates because each homeowner situation is unique.
Who offers the best homeowners insurance rates in Kentucky for a $400K home?
Of the six largest companies in Kentucky, Liberty Mutual offers the cheapest homeowners insurance rates for a $400K Kentucky home.