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Best homeowners insurance in Kentucky for 2023

Updated Feb 02, 2023
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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 give you a comprehensive view, we considered other metrics such as customer satisfaction ratings from J.D. Power, financial strength ratings via AM Best, mobile accessibility and more. With this information, we issued each company a Bankrate Score, ranging from 0.0 to 5.0 (with 5.0 being the highest score possible).

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.

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 coverages, 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 $1,820. 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 Kentucky.

USAA
Rating: 3.7 stars out of 5
3.7
Bankrate Score
Info
Average annual premium
$1,098
J.D. Power
884
/1,000
AM Best
A++
State Farm
Rating: 3.2 stars out of 5
3.2
Bankrate Score
Info
Average annual premium
$1,928
J.D. Power
829
/1,000
AM Best
A++
Auto-Owners
Rating: 3.2 stars out of 5
3.2
Bankrate Score
Info
Average annual premium
$1,323
J.D. Power
825
/1,000
AM Best
A++
Nationwide
Rating: 3.2 stars out of 5
3.2
Bankrate Score
Info
Average annual premium
$1,749
J.D. Power
816
/1,000
AM Best
A+
Travelers
Rating: 3.3 stars out of 5
3.3
Bankrate Score
Info
Average annual premium
$1,690
J.D. Power
794
/1,000
AM Best
A++
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Advertising Disclosure
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.

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

USAA

Best for: Military-focused coverage

Although it is not eligible for official ranking with J.D. Power because it only sells coverage to eligible active-duty and veteran military members and their immediate family members, USAA consistently receives exceptional customer satisfaction scores from its policyholders. If you are looking for a company with excellent service and you qualify for coverage, USAA could be one of the best Kentucky homeowners insurance companies. The company’s average premium for the state is also one of the lowest on our list. USAA also partners with ADT, which may save you money on an alarm system and on your insurance premium. In addition to home insurance, USAA offers auto, life, online banking and retirement plan programs. The Texas-based carrier holds an A++ (Superior) financial strength rating from AM Best.

Learn more: USAA Insurance review

State Farm

Best for: Local offices

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 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. State Farm has one of the most expensive average premiums on our list for the state and only offers a few discounts, but the Illinois-based carrier is rated A++ (Superior) by AM Best.

Learn more: State Farm Insurance review

Auto-Owners

Best for: Discounts

Auto-Owners offers an average annual premium well below Kentucky’s state average and several potential savings opportunities such as a paperless discount, paid-in-full discount and water shut-off system discount, among many others. 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. However, the Michigan-based super-regional carrier only sells coverage in 26 states. Auto-Owners carries an A++ (Superior) financial strength rating from AM Best, the highest rating available.

Learn more: Auto-Owners Insurance review

Nationwide

Best for: Homeowners with expensive collections

Although not the cheapest on our list, Nationwide could still be an excellent choice for Kentucky homeowners, especially those that collect high-value items like jewelry, watches and antiques. Most standard homeowners policies cover a certain amount of jewelry, but if you have an extensive collection, you may need to purchase a jewelry endorsement. This is where Nationwide's Valuables Plus can step in. With this endorsement, you could add extra coverage or choose a lower deductible for these pricey collectibles. It's important to note that while Nationwide has an A+ (Superior) financial strength rating from AM Best, the company did score below baseline in J.D. Power's 2022 Home Insurance Study.

Learn more: Nationwide Insurance review

Travelers

Best for: Customizable coverage

Travelers has been in business for more than 150 years and was granted an A++ (Superior) financial strength rating from AM Best. Additionally, Travelers writes policies in all 50 states, so you can rest assured that you should be able to find Travelers coverage if you move. Travelers also offers extensive coverage options, including water backup coverage, a personal articles floater, additional replacement cost protection coverage and coverage for your jewelry and valuable items. You should note, however, that Travelers scored lower than average in J.D. Power’s Home Insurance Study, so if customer service is your primary focus, you may want to explore other companies.

Learn more: Travelers Insurance review

How much is homeowners insurance in Kentucky?

In Kentucky, the average homeowners insurance rate is $1,820 per year for $250,000 in dwelling coverage. In comparison, the national average homeowners insurance cost is $1,383 per year for the same amount of coverage. When measured against neighboring states, Kentucky also figures higher than average. For example, Tennessee homeowners pay an average of $1,644 per year, while homeowners in Ohio pay $1,119 annually, on average. Kentucky’s premiums could be higher due to the state’s risk of weather-related property damage, including wind damage caused by tornadoes and water damage caused by heavy rains.

Home insurance in Kentucky

Homeowners may want to consider Kentucky’s varied weather conditions when searching for home insurance. The weather in the Bluegrass State can create dangerous conditions that may lead to property damage. Following are several of the common causes of property claims in Kentucky, as well as home insurance coverages that you may want to consider that could provide financial protection from these potential hazards.

Common causes of loss in Kentucky

Kentucky is prone to extreme weather year-round, including 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.

Kentucky has had 86 federally-declared disasters since 1953, with almost half of those occurring since 2000. For example, on December 10, 2021, Kentucky experienced a line of severe storms that resulted in 66 confirmed tornadoes that ripped across the region overnight.

Although Kentucky is not a coastal state, it is prone to the effects of damaging winds and torrential rains from hurricanes that form in the Gulf of Mexico, as well as other major storms which can cause widespread property damage and catastrophic flooding.

  • Severe winter weather: Kentucky is no stranger to heavy snow, freezing temperatures and ice storms in the winter months. These conditions may cause damage to your pipes, causing them to freeze and burst.
  • Flooding: Kentucky ranks in the top 15 states with the most rainfall, averaging over 46 inches a year. Heavy rain and melting snow can cause flooding, which may cause water damage.
  • Tornadoes and hurricanes: Strong winds from tornadoes, hurricanes and summer thunderstorms may break windows, damage roofs and pull off your siding, which can lead to catastrophic damage inside your home as well.

Understanding the common types of claims in your area may help you choose coverages that are appropriate for your needs.

Home insurance coverage options in Kentucky

If your home is damaged or destroyed by a covered peril, your policy’s hazard insurance is designed to cover it. Other standard coverages such as personal property, liability and medical payments to others provide additional financial protection. However, with the common causes of loss from weather-related disasters in Kentucky, homeowners may want to consider purchasing additional coverage. These include:

  • 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
Insurance Writer

Carol Pope is an 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 Insurance Editor
Reviewed by Director of corporate communications, Insurance Information Institute