The Best Homeowners Insurance in Kentucky 2020

Fact-checked with HomeInsurance.com

4 min read
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In Kentucky, roughly 67% of the state’s population owns their home, which is slightly above the national average homeownership rate of 65%. Kentucky is located in the southeast, where hurricanes, tornadoes and floods are extremely common. As a result, it’s important that Kentucky homeowners have insurance to cover their property and personal belongings.

If you’re in the market for homeowners insurance in Kentucky, there are some things you should keep in mind. First, make sure you know how much coverage you need for your home. You might need to purchase add-on policies to get coverage above what your standard policy offers. Also, decide how much you can afford to pay for a deductible, and find out if you qualify for any discounts.

The top home insurance companies in Kentucky

Shopping for homeowners insurance can be overwhelming. To make things easier, we put together a list of the best homeowners insurance companies in Kentucky. Here are the providers that we recommend:

  • AmicaAmica is the highest rated home insurance company by J.D. Power, with a perfect 5-star rating for customer satisfaction. The company is known for offering affordable premiums and great customer service.
  • ErieErie is also highly rated by J.D. Power, with a 5-star rating. We like Erie because they offer flexible policy options and discounts to help Kentucky homeowners save money.
  • State FarmState Farm is one of the oldest and most reliable home insurance providers on the market. The company has superior financial strength and offers a number of policy options that allow homeowners to customize their coverage.
  • Kentucky Farm BureauIf you’re a member of Kentucky Farm Bureau, you can purchase home insurance through the organization. It’s a great way to support the state’s agricultural economy while also getting access to a variety of insurance products.

These companies were rated highly in J.D. Power’s 2020 U.S. Home Insurance Study, based on customer satisfaction. We also ranked these providers based on cost, customer service, policy offerings and discounts. The table below includes additional ratings for these companies from J.D. Power, AM Best and BBB.

J.D. Power AM Best BBB
Amica 5/5 stars A+ A+
Erie 5/5 stars A+ A+
State Farm 4/5 stars A++ A
KY Farm Bureau N/A A A+

Average homeowners insurance cost in Kentucky

In Kentucky, the average cost of a homeowners insurance premium is $1,109 per year. In comparison, the national average is $1,211, according to the Insurance Information Institute. However, home insurance quotes are highly personalized. Factors such as your age, credit score, claims history and the size of your home all impact your rate.

The table below indicates how Kentucky’s average homeowners insurance rate compares to neighboring states:

Kentucky Ohio West Virginia Tennessee
Avg. premium $1,109 $862 $940 $1,196

Kentucky is located on the border of the southeast and midwest. That means it’s susceptible to weather patterns that occur in both regions. However, Kentucky and Tennessee tend to experience more severe weather than West Virginia and Ohio do. Additionally, the average home price in Ohio and West Virginia is lower than it is in Kentucky.

Home insurance coverage options in Kentucky

If your home is damaged or destroyed by a covered peril, your policy’s hazard insurance will cover it. Any other situation will be covered by one of the following types of coverage:

  • Dwelling insurance: Dwelling insurance covers the exterior and physical structure of your home
  • Personal property insurance: Personal property insurance covers the personal items in your home, like clothing and furniture
  • Liability insurance: Liability insurance covers your legal fees if you accidentally damage someone else’s property, or if someone injures themselves on your property and you get sued
  • Medical payments: If someone gets hurt on your property, medical payments coverage will help pay for their medical bills, regardless of who was responsible for the accident.
  • Additional living expenses: If your home is damaged and you have to live elsewhere while it’s getting repaired, additional living expenses coverage will pay for your hotel and food expenses

In addition to these basic coverages, Kentucky residents should also consider purchasing flood insurance. Flood damage is not covered under basic homeowners insurance policies, so you’ll have to purchase a separate policy through your insurance company. Flood insurance is also available through the National Flood Insurance Program.

Common causes of home insurance losses in Kentucky

Kentucky gets hit with extreme weather year round, including heavy snow, ice, freezing, flooding, tornadoes and hurricanes. These types of weather events can all cause extensive damage to the interior and exterior of homes.

For instance, in September 2018, Kentucky was one of many states hit by Hurricane Ike. One year earlier, Hurricane Harvey tore through the southeast, causing 76,257 paid losses that totaled about $8,909,000. Although Kentucky is not a coastal state, the effects of hurricanes and other major storms can cause damage and lead to flooding.

Frequently asked questions

Do I need homeowners insurance in Kentucky?

No, homeowners insurance is not legally required in Kentucky. However, if you have a mortgage, your lender will probably require it. Either way, having homeowners insurance is important. Without it, you’re responsible for paying out-of-pocket to repair or rebuild your home after a loss.

What is the best homeowners insurance in Kentucky?

There isn’t one insurance company in Kentucky that is the best choice for everyone. Every company offers slightly different coverages, different discounts and different rates. Because of that, it’s important to shop around to find the provider that can offer you the best deal.

How much does homeowners insurance cost in Kentucky?

The average cost of homeowners insurance in Kentucky is $1,109 per year. However, the actual amount you’ll pay depends on your ZIP code, age, marital status, credit score, claims history, the size of your home, when your home was built and more.

How do I get homeowners insurance in Kentucky?

Getting homeowners insurance in Kentucky is simple. Find a few providers that offer the coverage you need and then get a price quote. Most insurance companies have a free online quote tool or you can call an agent. You’ll be asked to provide some information about yourself and your home, like when it was built and the square footage. It’s best to get quotes from a few providers and compare them. Once you determine which company offers the best price, sign a policy and start your coverage.