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Kentucky Homeowners Insurance Quotes

Kentucky is a treasure trove of family fun and outdoor activities. While we are certainly known for the Kentucky Derby, the Bluegrass State is famous for more than just horse racing. There is no doubt that horses are a major part of Kentucky life but we have plenty of other outdoor activities for residents and visitors alike to enjoy.

Regardless of whether you are looking for a small town farm lifestyle or are more comfortable in the big city, Kentucky has you covered. We have loads of culture, museums, shopping, nightlife and world-class restaurants.

If its time to get outside, Kentucky is full of hiking trails, riding trails, boating, fishing and even zip lining. Regardless of which outdoor activities you love there is a good chance you can pursue your passion in Kentucky.

If you are considering the move to Kentucky, you are a making a great decision. Regardless of whether you are moving to Louisville, Ft Mitchell, Lexington, Monticello, or Salyersville, you won’t regret the decision to call Kentucky home.

Kentucky Facts

The most recent census data shows that Kentucky is the 26th most populous state in the country with 4,339,367 residents. When it comes to area size Kentucky ranks number 37 in the United States. These numbers break down to about 3,279 households per ZIP Code with an average number of three people in each house.

Unfortunately, the average household income is somewhat low at $26,202. A very affordable housing market offsets this low average income with the average house value coming in around $61,379.

Homeowners Insurance in Kentucky

In the Bluegrass State homeowners insurance is pretty affordable with the average cost of an H-03 policy, which is the industry standard for a single family home being priced at $981. This is well below the national average of $1,034.

Despite the fact that homeowners insurance is fairly reasonable in Kentucky, there are ways to lower your premium even further. Following are a few tips on how to save money on your homeowners insurance:

  • Shop Around: According to experts the number one way to save on your homeowners insurance is to shop your coverage on a yearly basis. Insurance companies rate risk differently and its your job to find the insurance company that likes your risk the best. When shopping for coverage make sure you're comparing apples to apples when it comes to deductibles and coverage levels.
  • Discounts: All insurance companies offer discounts to their customers and it's important that you are receiving all discounts you are qualified to receive. Your agent should be able to do a review of your policy and make sure all available homeowners insurance discounts are being applied to your policy.
  • Raise Your Deductible: Doubling your deductible from $500 to $1,000 will significantly impact your premium. If you can afford to raise your deductible, you should. Always make sure you can afford to cover the deductible in the event you need to make a claim.   » Helpful Link: What effect does a home insurance deductible have on the premium?

Insurance Rates by Homeowners Insurance Type

Homeowners insurance comes in a variety of different types and each type is specifically designed to insure a certain type of home. Following is a quick overview of the different types of homeowners insurance, as well as the average premium according to data collected from NAIC:

Dwelling Fire: A dwelling fire policy is very bare-bones and only offers a narrow range of coverage. Due to the limited coverage these policies tend to be very affordable but it's important to remember they only cover damage from smoke and fire although some policies may also cover vandalism and explosion damage as well as damage caused by wind.

According to data from the NAIC, only 0.5% of policies written in Kentucky are DF policies and the average premium is $434

HO-2: An HO-2 policy is still very basic homeowners insurance but it is more robust than a dwelling fire policy. These policies only cover perils that are listed in the wording of the policy.

These policies tend to be pretty affordable and the average HO-2 policy in Kentucky costs $798. NAIC data shows that only 5.8 percent of Kentucky policies are HO-2s.

HO-3: An HO-3 policy is considered standard for a single-family home. This policy offers protection from all perils except the ones that are specifically excluded in the policy wording. It should be noted that all homeowner policies exclude damage from floods and earthquakes.

In Kentucky, these policy types are by far the most common with 70.3 percent of homeowner policies falling into this category. The average policy price is a very affordable $981.

HO-4: This policy type is often referred to as renters insurance because it is designed to protect people who live in apartments. It not only covers your personal possessions but also offers liability protection in the event someone is injured while in your apartment.

Renters insurance in Kentucky is not as popular as other types with 15.6 percent of policies being renters insurance.

HO-5: These policies are designed for newer, more upscale homes. They not only protect your home but other structures on your property as well. Loss of use protection is included in the event if you cannot live in your house after an incident. HO-5 policies cover your personal possessions against all perils except those excluded in the policy wording. In almost all circumstances these policies are not available for older homes.

The HO-5 is not very popular in Kentucky with only 2.9 percent of policies being this type. They tend to b a bit pricy with the average premium coming in at $1,265.

HO-6: The HO-6 is targeted at condo and co-op owners. These policies offer coverage for your personal property as well as any structural parts of the building that you own such as your interior walls and cabinets. Coverage is limited to 16 specific perils.

In Kentucky, about 3.3 percent of policies are HO-6s.

Factors to Consider in Kentucky

While Kentucky doesn't fall into the heart of tornado alley, it is considered to be on the fringes. According to weather data, the Bluegrass State has seen a total of 1,053 tornadoes touch down since 1950, which breaks down to an average of 17 per year.

Tornadoes and severe thunderstorms can do major damage to your home. Everything from hail damage, to collapsed roofs, to a completely destroyed home are all possibilities when it comes to tornadoes and other severe storms.

It is possible to help minimize the damage from these types of storms and lower your chances of having to make a claim. Upgrading your roof to wind resistant materials will often result in a discount. Adding storm shutters and a sprinkler system to your home will also result in a significant discount.

If you are moving to Elkhorn City, Louisville, Bowling Green, Covington or our capitol city of Frankfort you will need a great new policy to protect your new home. We can easily help you shop and compare up to 12 different Kentucky home insurance premiums and apply all the available discounts and credits.

Get started today, get free quotes on your homeowners insurance in Kentucky.

Average Homeowners Insurance Premiums in Kentucky

With over 95% of all Americans are known to have homeowners insurance coverage, it's important to know what Kentucky homeowners are paying on average. Did you know that the average homeowners insurance premium in Kentucky is $1174? Kentucky is now ranked 28 in the country. The country wide average for homeowners in the United States is $1,311. This means the average home insurance premium in Kentucky is 10.45% less than the national average.

YearAverage Annual PremiumAverage Monthly PremiumState Rank (Overall)
2020$1174 (0.2%)$ 9828
2019$1172 (1.7%)$ 9829
2018$1152 (3.8%)$ 9626
2017$1109 (2.19%)$ 9226
2016$1085 (2.14%)$ 9027

When we combine the state averages over the last decade, the Kentucky overall average is estimated to be around $1,003.93. Our homeowners insurance quoting and rating process helps you compare homeowners insurance quotes, coverages and premiums. Kentucky current state rank compare to the rest of the country is #28. Consider shopping your Kentucky home insurance with us so we can help you save up to 40% or more on your policy.

Kentucky Homeowners Insurance News & Information

  • Florida Homeowners Advance From Citizens into Private Companies Posted on Tuesday 5th December, 2023

    Homeowners Choice Property and Casualty Insurance Co. has assumed approximately 53,750 policies from Citizens Property Insurance Corp., Florida’s state-backed insurance company, the parent company says in a Tuesday news release. Homeowners Choice is owned by HCI Group Inc., a holding company with operations in homeowners insurance, information technology services, real estate and reinsurance. Homeowners Choice […]

  • North Carolina Joint Underwriters and Wind Pool Map Explained Posted on Thursday 30th November, 2023

    North Carolina is a lovely state to call home. Our state is packed with beautiful cities, museums, restaurants and of course, some of the loveliest beaches in the country. Unfortunately, if you live in one of our amazing coastal southern cities such as Ocean Isle Beach, Holden Beach, Oak Island Beach, Calabash, Bald Head Island, […]

  • Did you know? Your Home Insurance Doesn’t Cover… Posted on Wednesday 29th November, 2023

    While homeowners insurance covers a variety of perils and protects your home and personal possessions, it does come with a number of exclusions and coverage gaps that can result in you having to cover the cost of certain damage out of pocket.  Let’s have a quick look at what your homeowners policy does and doesn’t […]

  • 2024 Homeowners Insurance Outlook Receives Negative Rating Posted on Tuesday 21st November, 2023

    The insurance news for 2024 is certainly not great. Experts expect that extreme weather and increasing costs will push up insurance costs and make insurance companies more selective when deciding where they will write policies.  Recently, credit rating agency AM Best downgraded the entire home insurance industry from stable to negative. According to Richard Attanasio, […]

  • What Is the 80/20 Rule In Homeowners Insurance? Posted on Wednesday 8th November, 2023

    If you are purchasing a home, your lender will require that you carry homeowners insurance to protect their investment in your home. Homeowners coverage will help cover the cost of repairing or replacing your home if it is damaged or destroyed by a covered peril.  Covered perils can include items such as a hurricane or […]

Kentucky Housing & Real Estate Data

Total Housing Units1927164
Occupied Housing Units1719965
Vacant Housing Units207199
Vacant Housing Units for Rent56960
Vacant Housing Units Rented Not Occupied3059
Vacant Housing Units For Sale27286
Vacant Housing Units Sold Not Occupied8687
Vacant Housing Units For Seasonal Occasional Use38616
Vacant Housing Units All Other Vacants72591
Housing Units Homeowner Vacancy Rate Percent2.2
Housing Units Rental Vacancy Rate Percent9.5
Housing Tenure Occupied Units1719965
Housing Tenure Occupied Units Owner Occupied1181271
Housing Tenure Occupied Units Owner Occupied Population2966808
Housing Tenure Occupied Units Owner Occupied Averge Household Size2.51
Housing Tenure Occupied Units Renter Occupied538694
Housing Tenure Occupied Units Renter Occupied Population1246689
Housing Tenure Occupied Units Renter Occupied Average Household Size2.31

Understanding Kentucky Homeowners Insurance

When shopping for Kentucky homeowners insurance quotes you should be aware of the various types of insurance policies that are available in your area:

  • HO-3: This is the most common type of homeowers policy. This policy type protects your home against all perils, except ones that are specifically excluded. In most cases earthquake and flood damage are excluded.
  • H0-6: This policy type is specifically written for condos or co-ops. If you own a condo or live in a co-op building this type of policy is a necessity. A HO-6 policy covers both your personal belongings and the structural parts of the building that you own. There are 16 disasters listed on a typical policy that HO-6 protects against.
  • HO-4: If you are looking for Kentucky renters insurance, a HO-4 policy is a great option. Renters insurance will cover your contents as well as offer liability coverage in the event a person is injured in your apartment.

While other types of policies exist, these are the most common ones. A HO-2 is a more basic policy that offers reduced coverage levels and a HO-5 is a high-end policy that offers increased protection.

If you are shopping for a new home in Kentucky, homeowners insurance is a must do. We can help you find the perfect policy for your new home, regardless of whether you need a standard HO-3 policy, HO-6 or renters insurance, our site makes shopping for homeowners insurance quotes easy. Visit our online quoting application today and let us help you shop and compare up to 12 different Kentucky rates and coverage options.