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Best homeowners insurance in Kentucky for 2023

According to our research, Travelers, Auto-Owners, Encompass, State Farm and Nationwide may offer the best of the best Kentucky home insurance.

Written by
Carol Pope
Edited by
Mariah Posey
Reviewed by
Mark Friedlander
Edited by
Mariah Posey
Reviewed by
Mark Friedlander
Updated Oct 25, 2023
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Quick Facts
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
Circle Check
100% of homes
need insurance before getting a mortgage
Mortgage

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Compare the best home insurance companies in Kentucky

To begin your search for the best Kentucky homeowners insurance, you may want to decide what features you want in a company. Are you looking for the lowest price, certain coverage types, an in-person agent or policy features like a user-friendly mobile app? Many insurance experts recommend narrowing down what your priorities are before comparing quotes from various providers.

According to data provided by Quadrant Information Services, the average annual premium for homeowners insurance in Kentucky is $2,009. Using this information as a baseline, Bankrate looked to other metrics such as Bankrate Scores, J.D. Power’s 2022 U.S. Home Insurance Study and financial strength ratings from AM Best to find the best home insurance companies in the state. Based on our findings, you may want to check out Travelers, Auto-Owners, Encompass, State Farm and Nationwide.

Insurance company AM Best J.D. Power score Average monthly premium Average annual premium
Travelers
A++
794
/1,000
$142
$1,703
 Get a quote
Auto-Owners
A++
825
/1,000
$118
$1,413
 Get a quote
Encompass
A+
Not rated
$190
$2,274
 Get a quote
State Farm
A++
829
/1,000
$177
$2,127
 Read review
Nationwide
A+
816
/1,000
$153
$1,841
 Get a quote
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

*Does not qualify for official ranking with J.D. Power due to eligibility restrictions

The top 5 home insurance companies in Kentucky

Travelers

Best for unique coverage options

3.3 Bankrate Score
JD Power: 794/1,000 AM Best: A++

Average annual premium

$ 1,703 for $250k dwelling coverage
Travelers Review Get a personalized quote

Why Travelers made our list: In addition to an A++ (Superior) financial strength rating from AM Best and low average rates, Travelers also offers extensive coverage options. Some of these options include water backup coverage, a personal articles floater, additional replacement cost coverage, and coverage for your jewelry and valuable items. Perhaps one of Travelers’ most unique options is its green home coverage. This endorsement may provide extra coverage for environmentally-friendly home features, as these tend to cost more than standard home improvements.  

Who Travelers may be good for: Travelers could be a solid choice for Kentucky homeowners looking for extensive coverage options without sacrificing low average rates.

Auto-Owners

Best for low average rates

3.2 Bankrate Score
JD Power: 825/1,000 AM Best: A++

Average annual premium

$ 1,413 for $250k dwelling coverage
Auto-Owners Review Get a personalized quote

Why Auto-Owners made our list: Auto-Owners offers an average annual premium well below Kentucky’s state average and several potential savings opportunities, including a paperless discount, paid-in-full discount and water shut-off system discount. Although Auto-Owners offers some of the cheapest Kentucky home insurance rates, it doesn’t seem to skimp on customer service. Auto-Owners earned an above-average customer service score from J.D. Power in 2022, indicating that its policyholders are typically satisfied with its service. 

Who Auto-Owners may be good for: Homeowners on a budget may be interested in Auto-Owners’ lower-than-average rates in Kentucky. Those who have paid off their mortgage may also be interested in Auto-Owners' mortgage-free discount.

Encompass

Best for pre-built coverage packages

3.2 Bankrate Score
JD Power: Not rated AM Best: A+

Average annual premium

$ 2,274 for $250k dwelling coverage
Encompass Review Get a personalized quote

Why Encompass made our list: Encompass’ unique approach to coverage packages helps it stand out as one of the best Kentucky home insurance companies. The company’s EncompassOne policy not only includes your home coverage but also your auto, along with additional homeowners endorsements. Depending on the coverage level you choose under your EncompassOne policy, you could get up to $10,000 in jewelry and fur coverage, water backup coverage, 200 percent of your home’s replacement cost and more. Additionally, policyholders covered under the EncompassOne plan only have one premium and deductible across all lines of their insurance, which could make policy management especially convenient. 

Who Encompass may be good for: Homeowners looking to bundle their Kentucky homeowners insurance with their auto policy might find the EncompassOne plan convenient. However, you must contact an agent for a quote, which might dissuade those who prefer to handle their insurance online.

State Farm

Best for personalized customer service

3.2 Bankrate Score
JD Power: 829/1,000 AM Best: A++

Average annual premium

$ 2,127 for $250k dwelling coverage
State Farm Review Get a personalized quote

Why State Farm made our list: If you like working with a local agent, State Farm could be a good choice. The company has agents across the state who may be more in tune with the needs of Kentucky homeowners since they live in the state themselves. State Farm also focuses on damage prevention with its Ting partnership, which provides a free electrical system monitoring device to eligible policyholders. The device monitors your home’s wiring system and may be able to alert you to potential problems that could be a fire hazard. 

Who State Farm may be good for: Homeowners who prefer the personal touch of a local agent and don’t mind paying above-average rates may find State Farm as their company of choice.

Nationwide

Best for discounts

3.2 Bankrate Score
JD Power: 816/1,000 AM Best: A+

Average annual premium

$ 1,841 for $250k dwelling coverage
Nationwide Review Get a personalized quote

Why Nationwide made our list: Nationwide may not be the cheapest company on our list, but its rates are still far lower than the Kentucky average. You could save even more through Nationwide's long list of homeowners insurance discounts. Homeowners might save for being claims-free, having a newer roof or living in a gated community. Nationwide's SmartHome program is also available in Kentucky, which could save you almost 50 percent on a Notion home monitoring kit along with a discount on your homeowners policy. 

Who Nationwide may be good for: If you’re looking for fairly cheap Kentucky homeowners insurance and are in the market for a home monitoring system, you may want to get a quote from Nationwide.

How Bankrate chose the best home insurance companies in Kentucky

Bankrate analyzed various data points to bring you the best homeowners insurance in Kentucky. First, we used annual premiums provided by Quadrant Information Services to compile a list of major carriers that offer the cheapest rates. We understand, however, that price isn’t typically the only factor when looking for the best coverage. To determine comprehensive ratings, our analysts and insurance experts also factored in customer satisfaction data based on surveys conducted by J.D. Power. This helped us evaluate how satisfied policyholders were with pricing, claims handling and customer service from each insurer. Additionally, we examined financial strength ratings from agencies like AM Best to assess each company's financial stability and historical ability to pay out claims. These score areas and others help indicate insurers that respond well to policyholders and have the resources to fulfill claims if disaster strikes. 

With this information, we issued each company a Bankrate Score, ranging from 0.0 to 5.0 with 5.0. We hope that our Bankrate Scores, coupled with our proprietary premium data, will empower you to make an informed decision when shopping for Kentucky home insurance.

Clock Wait
46
years of industry expertise
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122
carriers reviewed
Location
20.7K
ZIP codes examined
Dollar Coin
1.2M
quotes analyzed

How much is home insurance in Kentucky?

According to our 2023 rate data, the average annual premium for a homeowners insurance policy in Kentucky with $250,000 in dwelling coverage is $2,009. This is quite a bit higher than the national average of $1,428. Kentucky is prone to extreme weather year-round, which could lead to more expensive claims and higher rates. In any given year, Kentuckians may endure heavy snow, ice, freezing temperatures, flooding, tornadoes and even the impact of hurricanes. These types of weather events can cause extensive damage to the interior and exterior of homes.

When compared to nearby states, Kentucky’s average homeowners insurance premiums are still some of the most expensive. In Indiana, for instance, the yearly average rate for $250,000 in dwelling coverage is $1,225. In Tennessee, the average rate for an equivalent policy is $1,755. While weather patterns likely contribute to Kentucky’s higher-than-average premiums, homeowners insurance companies use several additional metrics to calculate their rates, including credit-based insurance scores, claims histories, the cost of labor and materials in a given area and more. 

The amount of coverage you choose will also dictate how much you spend on your homeowners policy. Below, you’ll find yearly average premiums for the best homeowners insurance companies in Kentucky across various coverage levels.

Insurance company $150K $250K $350K $450K $750K
Travelers
$1,195
$1,703
$2,230
$2,735
$4,277
Auto-Owners
$1,123
$1,413
$1,729
$2,093
$3,210
Encompass
$1,667
$2,274
$2,817
$3,322
$4,713
State Farm
$1,506
$2,127
$2,595
$3,208
$5,005
Nationwide
$1,410
$1,841
$2,578
$3,473
$6,468
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
Insurance Disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Your ZIP code is among the many factors that home insurance companies in Kentucky may use to calculate your rate, which means that the city you live in could significantly impact your premium. For instance, those that live in densely populated areas might pay more because of the higher risk of theft and vandalism in bigger cities.

If you’re thinking about moving to Kentucky or even just switching towns, you may want to explore the cities below — based on our proprietary rate data, you might find the lowest homeowners insurance rates in Kentucky here:

  • Foster: $1,759  — 12 percent below the state average
  • Flatwoods: $1,762 — 12 percent below the state average
  • Crittenden: $1,763 — 12 percent below the state average
  • Pewee Valley: $1,763 — 12 percent below the state average
  • Russell: $1,763 — 12 percent below the state average

Conversely, according to our research, those living in the Kentucky cities below pay some of the highest average homeowners insurance rates:

  • Dwale: $2,255 — 12 percent above the state average
  • Magnolia: $2,254— 12 percent above the state average
  • Majestic: $2,252 — 12 percent above the state average
  • Mount Vernon: $2,251 — 12 percent above the state average
  • Lewisburg: $2,250 — 12 percent above the state average

How to find the best cheap home insurance in Kentucky

While you’re not mandated to carry home insurance by law, your mortgage company will almost certainly require you to maintain a certain level of coverage as you pay off your home. However, even those who own their homes outright may still want to consider purchasing homeowners insurance for enhanced financial protection. 

If you're looking for the best cheap home insurance in Kentucky, the following steps may help:

  1. Figure out how much coverage you need: Knowing how much homeowners insurance you need might be the first step in securing an affordable policy. It's a delicate balance — you probably don't want to be over-insured (leading to a higher bill), but purchasing inadequate limits or endorsements could leave you vulnerable to high out-of-pocket expenses. Speaking to a licensed agent and making a home inventory might help keep you on the right track.
  2. Determine your priorities: Other than cheap rates, what else are you looking for in your homeowners insurance company? Do you work odd hours and need a company that offers 24/7 customer service? Perhaps you own a high-value home and need an extensive list of coverage add-ons. Determining your priorities may help you narrow down what companies to contact when you're ready to request quotes.
  3. Gather quotes: When you know what coverage, benefits and policy endorsements you need, it's time to gather quotes. Many Kentucky home insurance companies offer online quotes, but not all do. In that case, you'll need to contact an agent directly. However, even if you can request a quote online, sitting down with a licensed agent might be beneficial if you have any additional questions. Regardless of how you gather your homeowners insurance quotes, you may want to request the same (or similar) coverage levels across all companies. That way, you can accurately compare rates. 
  4. Compare quotes: Once you've requested quotes, it’s time to compare. Although cheap rates are a priority for many, you may also want to consider other metrics, such as claims satisfaction and digital tool ratings. 
  5. Purchase your policy: How you purchase your homeowners insurance depends on whether you're paying for it on your own or through your mortgage escrow. If you're purchasing the policy yourself, you will need to choose a payment plan, whether it be in installments or one lump sum. If you decide to pay for your policy in full, you may want to inquire about a pay-in-full discount, which is common among carriers. If you're paying for your policy through your escrow, you must follow some additional steps to ensure your lender is notified of your new coverage.

Common home insurance discounts in Kentucky

Taking advantage of home insurance discounts may be a powerful tool to ensure you’re paying the most competitive rate. Although each Kentucky home insurance company dictates its own discounts, some common ones may include:

Home insurance coverage options in Kentucky

Kentucky has had 86 federally-declared disasters since 1953, with almost half of those occurring since 2000. Since Kentucky experiences a wide range of weather-related disasters, homeowners may want to consider purchasing additional coverage. This additional coverage may be in the form of an endorsement or a standalone policy. 

  • Flood insurance: A standard homeowners insurance policy does not cover flood damage. If you want this type of coverage, you must purchase flood insurance as a separate policy or, in rare cases, as an endorsement. Many people find flood coverage through FEMA’s National Flood Insurance Program (NFIP) or with one of the several dozen private insurers that offer flood insurance.
  • Water backup coverage: If your home sustains damage due to water backing up in a sewer or drain line, this endorsement may help pay for the repairs. Water backups typically happen in basements or crawl spaces during heavy rains, but can happen from any blocked sewer or drain line.
  • Identity theft coverage: Although not a weather-related event, identity theft is becoming more common. Adding this endorsement could help you with the costs associated with restoring your stolen identity.

Frequently asked questions

Written by
Carol Pope
Former Writer, Insurance

Carol Pope is a former insurance writer for Bankrate and prior to joining the team, she spent 12 years as an auto insurance agent. During this time, she sold, serviced and underwrote auto insurance for people across the country. She also has experience selling supplement coverage such as umbrella insurance.

Edited by
Mariah Posey
Editor, Insurance
Reviewed by
Mark Friedlander
Director of corporate communications, Insurance Information Institute