Berea Homeowners Insurance

What Your Berea, KY Homeowners Insurance Policy Needs

Find the right homeowners insurance policy for you.

If you live here, you know that Berea, KY has a lot going for it. From the natural beauty of the Cumberland Plateau to the civic pride of Berea College and the Folk Arts Festival, it’s a great place to live in. With plenty of jobs in and around Madison County, it’s attracting more people all the time, too. With a low risk of tornadoes and a mild climate, life is as good as it gets. If you own a home in Berea, home insurance is a must. It’s important to protect your investment from unforeseen circumstances. Your Independent Insurance Agent is there to help you find the insurance that fits your home and your budget. Since our agents aren’t tied to one company, they will get you multiple quotes to find the insurance that is right for your lifestyle at the lowest cost.

Homeowners insurance is very affordable in Berea. Across the United States, homeowners spend on average $1,034 per year on home insurance premiums, but in Kentucky, homeowners spend only $913. This ranks the state 27th overall, very average The relatively low incidence of severe weather and other disasters is the main reason. Every homeowners insurance policy is as unique as the home that it covers, as there are many factors that go into determining your premium, as follows:

  • Home's age and type of construction - Wooden homes are more likely to suffer damage, and older homes are more likely to have electrical fires.
  • Home’s location - How likely are disasters? Crime?
  • Claims history - More claims make your premiums more expensive.
  • Risk factors on the property - Swimming pools and trampolines are prime examples.
  • Credit score - A low credit score indicates you are high risk.

It’s important to check with your agent to find the insurance that best fits your home and your situation. There may be many things that you can do to keep your insurance cost low as well.

Berea Second Home and Vacation Home Insurance

Some people keep a second home on the edge of Kentucky horse country here in Berea. It’s common to insure a second home for less than a primary home in order to save money, usually by not insuring the contents fully. If you opt for doing this, you are taking on the risk yourself if something happens. Generally, it costs a bit more to insure a second home because no one is there to watch it all the time. A security system helps keep the cost low and protects you against any loss whether you have your home fully insured or are taking on the liability on your own. You can also have a caretaker living on the property if you have a particularly large spread out in Madison County, and that saves you on insurance as well.

Number of Thefts in Kentucky

Home theft rates are a bit lower in Kentucky, and that is one of the reasons that home insurance is so affordable. The statistics from recent years tell the story:

  • Across the U.S., the average state had 37,814 burglaries.
  • Kentucky reported 26,213 thefts from homes.

Typically, your homeowners insurance pays for all costs caused by burglary damage even if your home’s contents are not insured. You can cover the valuables in your home at either the current value, which depreciates with time or at full replacement cost. The latter is a bit more expensive, but if you do experience a theft from your home, you’ll be back up and enjoying the same life you had before the break-in much quicker.

Number of Catastrophes in Kentucky

With no reported earthquakes and with storms common only in the western part of the state, Kentucky has one of the lowest rates of widespread damage from catastrophes.

  • Recently, 743 catastrophes were reported.
  • 17 tornadoes are included in this total.
  • Despite being rare, catastrophes caused $12.3 million in damage.
  • 1 in 15 insured homes has a claim every year.

Although the hills of central Kentucky have very mild weather, you still want to have the right insurance in the unusual event of a thunderstorm or tornado. Even with few catastrophes, the total losses in Kentucky show how much damage is caused by even a small number of storms. It’s important to protect your home in Berea no matter what might happen.

What Are the Risks in Berea?

While the risks are relatively low and home insurance is comparably less expensive than in many places, every home in Berea has some liability. For example, a big tree in your yard could fall and injure someone. You have to be ready for all kinds of risk, which is why homeowners insurance is so important.

Compare Berea Home Insurance Quotes

Homeowners insurance is not particularly complicated, but you need to have the best insurance for your home. It’s also important to know what you can do to keep your costs low, such as keeping your home in the best condition possible. For all these concerns and more, talk to your Independent Agent today. Agents live right here in Berea and know the risks associated with your home and will get you the quote for a policy that fits your needs.

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