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Whether you’re a new homeowner or looking to buy insurance for your current home, securing the right homeowners’ insurance is crucial. Rates may vary depending on your insurance company and the coverage limits you choose.
According to Insure.com’s data analysis, the average cost of homeowners insurance in Kentucky is $3,314 a year.
Continue reading to learn more about homeowners insurance rates in Kentucky by ZIP code and insurer.
Key Takeaways
- Homeowners insurance costs an average of $3,314 a year, based on Insure.com analysis.
- Of all the ZIP codes in Kentucky, 41075 has the most affordable home insurance rates at around $2,357 annually.
- In Kentucky, Cincinnati Insurance provides the most affordable home insurance at an average annual premium of $2,243.
Average home insurance cost in Kentucky by coverage level
Homeowners insurance costs $3,314 a year in Kentucky for the coverage limits of $300,000 dwelling coverage and $100,000 liability with a $1,000 deductible.
If you raise the dwelling coverage limit from $300,000 to $400,000, the cost of homeowners insurance in Kentucky will increase to $4,232 per year for $100,000 in liability protection and a $1,000 deductible. Below, you’ll find the average cost of homeowners insurance in Kentucky for dwelling coverage limits of $300,000, $400,000, and $500,000.
| Coverage | Average annual rate | Average monthly rate |
|---|---|---|
| $200,000 with $1,000 Deductible and $100,000 Liability and None Deductible | $2,476 | $206 |
| $200,000 with $1,000 Deductible and $300,000 Liability and None Deductible | $2,486 | $207 |
| $300,000 with $1,000 Deductible and $100,000 Liability and None Deductible | $3,314 | $276 |
| $300,000 with $1,000 Deductible and $300,000 Liability and None Deductible | $3,326 | $277 |
| $400,000 with $1,000 Deductible and $100,000 Liability and None Deductible | $4,232 | $353 |
| $400,000 with $1,000 Deductible and $300,000 Liability and None Deductible | $4,246 | $354 |
| $600,000 with $1,000 Deductible and $100,000 Liability and None Deductible | $6,125 | $510 |
| $600,000 with $1,000 Deductible and $300,000 Liability and None Deductible | $6,142 | $512 |
| $1,000,000 with $1,000 Deductible and $100,000 Liability and None Deductible | $9,814 | $818 |
| $1,000,000 with $1,000 Deductible and $300,000 Liability and None Deductible | $9,840 | $820 |
Homeowners insurance companies in Kentucky determine rates based on risk factors. When calculating premiums, they consider your location, claims history, credit history and coverage limits.
If your neighborhood has experienced many claims in the last few years, you can expect to pay higher home insurance rates than areas with few to no claims. Your credit score can also play a role in determining your home insurance costs.
According to S&P Global Market Intelligence’s RateWatch application, the average homeowners insurance premium for owner-occupied homes nationwide increased by over 11% in 2023.
Best homeowners insurance companies in Kentucky
It’s always wise to shop around and compare prices before you buy homeowners insurance. There are many factors that go into deciding the best homeowners insurance company.
We have compared the insurers in Kentucky using their NAIC score and AM Best rating and compiled a list of the best homeowners insurance in Kentucky. Based on the analysis, Nationwide received the lowest NAIC score and A+ rating from AM Best. A lower NAIC score indicates fewer complaints relative to the company’s size, suggesting higher customer satisfaction.
| Company | Average annual premium | AM Best rating | NAIC Complaint Index | Overall score |
|---|---|---|---|---|
| Nationwide | $3,245 | A+ | 0.87 | 5 |
| State Farm | $2,719 | A++ | 0.95 | 4.91 |
| Auto-Owners | $3,114 | A++ | 0.33 | 4.87 |
| Westfield Insurance | $2,970 | A | 0.29 | 4.77 |
| Auto Club Group – ACG (AAA) | $3,421 | A | 0.29 | 4.62 |
| Grange Insurance | $3,764 | B++ | 0.93 | 4.25 |
| Progressive | $2,287 | A+ | 8.45 | 3.81 |
| Kentucky Farm Bureau | $6,065 | A | 0.54 | 3.71 |
Average homeowners insurance cost by company in Kentucky
Cincinnati Insurance has the cheapest homeowners insurance rates in Kentucky. Its average annual cost for Kentucky homeowners is $2,243. Progressive and State Farm also offer affordable insurance.
By comparing homeowners insurance rates, you could save hundreds, if not thousands, of dollars annually.
The table below shows the average annual and monthly insurance rates for homeowners in Kentucky with $300,000 in dwelling coverage, $100,000 in liability coverage, and a $1,000 deductible.
| Company | Average annual rate | Average monthly rate |
|---|---|---|
| Cincinnati Insurance | $2,243 | $187 |
| Progressive | $2,287 | $191 |
| State Farm | $2,719 | $227 |
| Westfield Insurance | $2,970 | $247 |
| Auto-Owners | $3,114 | $260 |
| Nationwide | $3,245 | $270 |
| Auto Club Group – ACG (AAA) | $3,421 | $285 |
| Grange Insurance | $3,764 | $314 |
| Kentucky Farm Bureau | $6,065 | $505 |
Kentucky homeowners insurance rates by ZIP code
Insurance providers in Kentucky factor in the risk of a given location when determining rates. ZIP codes with higher crime rates or frequent natural disasters are typically classified as high-risk, leading to increased premiums. Additionally, the cost of rebuilding or repairing homes in that area can affect your homeowners insurance costs.
To get the best deal on homeowners insurance rates in Kentucky, take the time to shop around and compare quotes from multiple insurers. Additionally, don’t forget to ask about potential discounts, like bundling policies or a smart home discount.
Most affordable ZIP codes for home insurance rates in Kentucky
Homeowners insurance costs in Kentucky can vary widely by location, with your ZIP code being a key factor in determining your rate. Based on our data, the the 41075 area has the most affordable insurance rates, at $2,357 annually or $196 monthly.
Below are the homeowners insurance rates for the most affordable ZIP codes in Kentucky.
| ZIP code | Average annual rate | Average monthly rate |
|---|---|---|
| 41075 | $2,357 | $196 |
| 41001 | $2,392 | $199 |
| 40514 | $2,398 | $200 |
| 40502 | $2,400 | $200 |
| 41091 | $2,404 | $200 |
| 41074 | $2,409 | $201 |
| 41076 | $2,411 | $201 |
| 40513 | $2,421 | $202 |
| 41094 | $2,427 | $202 |
| 40536 | $2,428 | $202 |
Most expensive ZIP codes for home insurance rates in Kentucky
Your ZIP code plays a significant role in determining the cost of your homeowners insurance. In Kentucky, some areas face higher premiums due to factors like high crime rates, greater risk of natural disasters and higher living expenses.
In Kentucky, 42083 has the highest homeowners insurance rates, at $4,286 per year.
Here, we’ve highlighted some of the most expensive ZIP codes in Kentucky for homeowners insurance:
| ZIP code | Average annual rate | Average monthly rate |
|---|---|---|
| 42083 | $4,286 | $357 |
| 42041 | $4,215 | $351 |
| 42050 | $4,142 | $345 |
| 42021 | $4,065 | $339 |
| 42045 | $4,062 | $339 |
| 42058 | $4,054 | $338 |
| 42023 | $4,053 | $338 |
| 41214 | $4,052 | $338 |
| 42460 | $4,040 | $337 |
| 42461 | $4,030 | $336 |
Home insurance rates vary from one city to another. But with Insure.com, finding the right home insurance policy is easy. Learn more about homeowners insurance costs for different cities below.
Home insurance rates in Kentucky by city
Home insurance rate trend in Kentucky
We analyzed home insurance rate trends in Kentucky and found that homeowners insurance rates experienced an overall increase of 5% or $161, from 2022 to 2023.
The below data shows how much homeowners insurance rates have changed since 2019.
| 2019 rates | 2022 rates | 2023 rates |
|---|---|---|
| $2,616 | $3,153 | $3,314 |
To find the right homeowners insurance, research thoroughly and compare costs from multiple insurers, as they assess risk differently. Getting quotes from at least three companies helps ensure you get the most affordable coverage in Kentucky.
Resources & methodology
Source
S&P Global. “US homeowners insurance rates jump by double digits in 2023.” Accessed September 2024.
Methodology
Insure.com worked with Quadrant Information Service to get homeowners insurance data. We analyzed 20,739,560 insurance quotes from 82 national and regional insurance companies across 34,588 ZIP codes to determine the average premiums.
The insurance rates are based on a sample profile of a homeowner with good credit and the following coverage level:
- $300,000 dwelling coverage
- $100,000 liability protection
- $1000 deductible
We have taken into account 3 important factors such as average annual cost, NAIC score and AM Best rating, to determine the list of best homeowners insurance companies. The quoted insurance rates are for comparison purposes, and your individual rates may vary.
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