Find the Best Homeowners Insurance Rates & Companies in Kentucky
If you are in the market for homeowners insurance in Kentucky, you may be wondering how to find a suitable policy at a competitive rate.
Comparison shopping enables you to compare coverages and quotes so you can select the policy that offers the most value for your money. Independent agents can save you time and money by doing the comparison shopping legwork for you. Contact an independent insurance agent near you to begin your search for the best homeowners insurance in Kentucky.
The Best Homeowners Insurance Companies in Kentucky
When it comes to homeowners insurance, there is no particular company that is best for everyone. The trick is to find the company that is best for you. That is why independent insurance agents work with a variety of the area’s most highly rated insurance providers, including companies like:
- Progressive: The convenience of state-of-the-art online services and an award-winning mobile app make this insurance company a top choice for Kentucky residents.
- Travelers Insurance: Since 1963, Travelers has been providing its customers with reliable coverage through its full line of insurance products.
- Foremost: Foremost has coverage options that many other insurance providers may not offer. Enjoy A Better Insurance Experience® when you work with Foremost.
- Central Insurance Companies: Central has provided security, protection, and peace of mind to its policyholders since 1876.
- Stillwater Insurance Group: Talk to an agent to discover why 90% of Stillwater’s customers would recommend this insurer to their friends and family.
- Westfield: Westfield’s policyholders enjoy fast, accurate service and can rest assured that they will receive what they deserve when filing claims.
- PURE: PURE is a member-owned insurer that provides home insurance policies exclusively for high-net-worth individuals who own homes valued at $1 million or more.
Begin your search for the best homeowners insurance company in Kentucky by talking to a local independent insurance agent. Your agent can help you determine whether one of the companies listed above or any other insurance provider is the right choice for you.
What Homeowners Insurance in Kentucky Can Cover
If you own a house in the Bluegrass State, you can protect the investment you have made in it by purchasing a good home insurance policy. Kentucky home insurance can cover financial losses associated with the following:
- Property loss or damage: If your house or property is damaged by a covered hazard like a fire, storm, tornado, or property crime, you can receive compensation.
- Displacement: If damage from a covered event leaves your home unsafe for occupation until repairs are made, your policy can cover your extra living expenses.
- Costs related to liability lawsuits: If you or a member of your household faces a personal liability lawsuit, your policy can cover legal fees, court costs, mediation costs, and damages.
Local independent insurance agents can help you be sure that you are buying sufficient coverage in each category.
What Homeowners Insurance in Kentucky Does Not Cover
Homeowners insurance offers a wide range of coverage, but it does not pay for every type of damage you may encounter. You should not expect your policy to cover things like:
- Property that is damaged due to normal wear and tear
- Damage caused by termites, insects, rodents, or other pests
- Rust, rot, and mold
- Damage caused by floods
- Damage caused by mine subsidence
Also, you can expect your policy to provide only limited coverage for things like:
- Business equipment kept in your home
- Fine art, valuable collections, heirlooms, and expensive jewelry
- Boats, personal watercraft, ATVs, and other recreational vehicles
To be fully covered, you can buy supplemental policies or special home insurance policy endorsements. An independent insurance agent can help you find the best and most affordable products to cover all your property.
What Homeowners Should Know about Flood Damage in Kentucky
As mentioned above, home insurance policies do not cover damage caused by floods. Unfortunately, more than 255,000 properties in Kentucky have a significant risk of sustaining flood damage over the next thirty years.
If your house is among the properties at risk, you can supplement your homeowners insurance with flood insurance. Affordable policies are available through the National Flood Insurance Program in NFIP-participating communities.
If your house is in a designated flood zone and you still owe on a mortgage or home equity loan, your lender will require you to carry flood insurance. Otherwise, this coverage is optional. When deciding whether to purchase a policy, consider that the average compensation per flood claim in Kentucky is $17,300.
Average Cost of Homeowners Insurance in Kentucky
While homeowners in the US pay an average of $1,211 a year for home insurance, the average cost of homeowners insurance in Kentucky is lower at $1,109 a year. This is welcome news for property owners in this state.
Of course, this is just an average rate. Your actual costs may be significantly higher or lower than this amount. Insurance companies base their costs on factors like your home’s size, age, and value; the crime rate in your neighborhood; your insurance claims history; and the amount of coverage you wish to purchase.
You can talk to a local independent insurance agent to find out how much it will cost to cover your house with a suitable homeowners insurance policy. These agents can present you with a variety of customized quotes from some of the best homeowners insurance companies in Kentucky.