Maysville Homeowners Insurance

Your Complete Guide to Maysville, KY Homeowners Insurance

(Because your home is your castle.)

Maysville is a great place to call home. This scenic city, which is nestled on the banks of the Ohio River, offers its residents all the joys of small-town living while all the amenities of the large cities of Cincinnati and Lexington are just an hour’s drive away. If you are among the proud property owners in this charming city, you can protect the investment you have made in your house with a comprehensive homeowners insurance policy.

Independent insurance agents in Maysville can help you find a reliable, yet competitively priced, homeowners insurance policy. Find an insurance agent near you if you’d like to get more information and start reviewing customized quotes.

How Much Does Homeowners Insurance Cost in Maysville, KY?

To get an idea of how much a policy will cost you, let’s look at some averages:

  • National average yearly premium: $1,173
  • Kentucky average yearly premium: $1,062
  • Maysville, KY average yearly premium: $779

The average homeowners insurance rate in Kentucky is lower than the national average. And in Maysville, the average rate is even lower.  This is great news for area homeowners who are looking for an affordable policy. By comparing rates, you can be sure you're getting your coverage at the best possible price.

Of course, your quoted costs are likely to vary from these figures because home insurance rates are calculated on a case-by-case basis. They are typically based on such factors as:

  • The age, size, and value, of your home
  • The number of stories your house has and whether it has a basement
  • The crime rate and common weather hazards in your ZIP code
  • How much dwelling and contents coverage you are purchasing
  • Your claims history and credit score
  • The amount of your deductible

If you bundle your home insurance with other policies such as car insurance or business insurance, you can often get all of your policies at discounted rates. An independent agent in Maysville can help you find a competitively priced home insurance policy that meets both your coverage and budgetary needs.

Maysville Homeowners Insurance Covers Your Property

Homeowners insurance is designed to cover loss or damage to the structure of your home (dwelling coverage) and to the personal property inside it (contents coverage). Certain high-valued items such as collections or extensive electronics or jewelry may require you to purchase additional riders in order to be fully covered.

Homeowners in Maysville are most likely to experience damage caused by accidental fires, high winds, severe storms, and hail. Tornadoes also pose a risk in this city. In 2003, an F3 twister touched down just 3.4 miles from the Maysville city center and caused more than $6 million in damage.

Catastrophic Events in Kentucky

  • Number of federally declared disasters in Kentucky: 87
  • Most common reasons for disasters in the state:  severe storms, hurricanes, floods
  • Average number of tornadoes per year in Kentucky:  24.2
  • Average amount of property damage per year in KY:  $549.2 million
  • 1 in 15 insured homes has a claim each year.

You will want to be sure that your coverage limits are high enough to allow you to rebuild, repair, or replace damaged property if your home is significantly damaged by a disaster like a fire or a tornado.

The risk of tornadoes in the Maysville area is 164% higher than the national average. One of the worst to strike this area was an F4 twister that touched down 5.7 miles from the Maysville city center in 2001. This tornado caused about $12 million in damage. Fortunately, tornadoes, like the other risks listed above, are covered by most home insurance policies.

Talk to your local insurance agent to learn more about protecting your valuable property.

A Word about Flood Damage in Maysville, KY

Be aware that while your homeowners insurance will cover damage caused by most major weather events, it will not cover flood damage. And, as many residents of Maysille are well aware, flooding is a very real risk in this city.

In 2017, Maysville was inundated with eight inches of rain in just three hours, and this caused widespread flood damage throughout the city. Some streets were covered in six inches of water, and many homes and businesses sustained significant, expensive damage. It was unlike anything anyone in the area had seen before.

Fortunately, your local insurance agent can help you supplement your home coverage with flood insurance through the National Flood Insurance Program (NFIP). This government-backed coverage is guaranteed and enables you to cover your home and your property against flood damage. Flood insurance policies take 30 days to go into effect, so don't wait until heavy rains are imminent to buy your coverage.

While residents in designated flood plains have the highest risk, flood damage can happen just about anywhere. In fact, FEMA reports that around 20% of all flood insurance claims are for properties in low-risk areas. Talk to your local insurance agent to learn more about the benefits of purchasing flood insurance in addition to homeowners insurance.

Homeowners in Maysville Need Liability Insurance

Homeowners insurance does more than just cover your property. It also protects your finances by providing you with personal liability insurance. This can cover you if accidents or mishaps for which you can be held accountable lead to injuries or property damage to others.

Homeowners liability insurance is designed to absorb expenses like court costs, legal fees, and damages when they are associated with a covered liability lawsuit. Samples of times that you may need to use this liability insurance include:

  • A visitor to your home trips over loose carpeting and suffers a serious head injury.
  • Your dog breaks loose and bites a delivery person.
  • Your child damages your neighbor’s new car while playing baseball in the yard.
  • An area business takes issue with a scathing review you posted online and threatens to sue you for libel.

If you want to have even more liability coverage than your home insurance policy can provide, an independent insurance agent can help you secure an affordable umbrella insurance policy as well. Talk to your agent to learn more about homeowners liability insurance.

Homeowners Insurance Covers against Property Crimes in Maysville

The burglary rate in Kentucky is on par with the national average. However, in Maysville, the risk is significantly higher. There are about 50 burglaries reported in this small city every year.

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in Kentucky: 4.70
  • Number of burglaries per 1,000 homes in Maysville: 7.44

In the event that your house is broken into or vandalized, you may find it comforting to know that your homeowners insurance can provide compensation for your losses. Your local insurance agent can help you review your policy’s contents coverage to ensure that your most valuable belongings are appropriately covered.

What about Insurance for Second Homes and Vacation Homes?

If you are among the Maysville residents who own more than one residential property, your extra house is likely to have additional risk factors that insurance companies will take into consideration when they calculate your coverage rates. Depending on certain details about your second home, you may be required to purchase specialized home insurance coverage.

If you have invested in a multi-family house nearby that you rent to young families, your liability and property damage risks will be higher for that property than they are for your primary residence. That is why this type of home would need to be covered by landlord insurance.

Or maybe you own a weekend cabin or a winter vacation house in a warmer climate. If the house is left vacant and unattended for several months out of the year, your insurance company is likely to require you to carry vacant home insurance during the times that the property is unoccupied.

A local insurance agent can help you review the coverage needs of your secondary properties and can help you find the best home insurance coverage for all of them.

Why Work with an Independent Insurance Agent in Maysville, KY?

You can turn to one of the many independent insurance agents in Kentucky when you are looking for answers to your insurance-related questions, advice from a trusted professional, or help finding the best and most affordable homeowners insurance policy for your Maysville home.

Contact an insurance agent with an office near you to learn more about this valuable coverage. You will soon discover how easy it can be to compare customized, competitively priced home insurance quotes from a variety of reliable insurance companies.

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com