Mount Sterling Homeowners Insurance

Your Complete Guide to Mount Sterling Home Insurance

(Because your house is your castle.)

Though it is a well-preserved historical location, the city of Mount Sterling, KY also has a newly revitalized downtown area. There are many attractions, activities, and opportunities here, which makes it a great place to own a house. Homeowners insurance can protect your investment.

When you're shopping for insurance coverage for your Mount Sterling home, a local independent insurance agent can help. These agents can answer your insurance-related questions and can help you compare customized home insurance quotes. Find an insurance agent near you to get started.

How Much Does Homeowners Insurance Cost in Mount Sterling, KY?

Home insurance prices in the state of Kentucky are similar to the national average, but in Mount Sterling, rates tend to be lower. This is great news for Mount Sterling residents who are looking for an affordable policy. Let’s take a look at a rate comparison:

  • National average yearly premium: $1,173
  • Kentucky average yearly premium: $1,062
  • Mount Sterling, KY average yearly premium: $866

Your actual home insurance quotes are likely to differ from this average rate. This is because costs are calculated on a case-by-case basis and will be based on several factors such as: 

  • The size of your home, the year it was built, and the materials used in its construction
  • The type of home you are insuring (e.g., single family detached house, multi-family home, condo, cabin, mobile home, etc.)
  • The crime rate and weather risks in the ZIP code where your house is located
  • Your claims history and credit score
  • The amount of your deductible
  • Whether you are bundling your homeowners coverage with other policies like car insurance  or life insurance

Comparing rates lets you choose the homeowners insurance policy that offers the best price for the coverage you need. Independent insurance agents in Mount Sterling make comparison shopping easy.

What Are the Risks Faced by Homeowners in Mount Sterling?

Your home insurance policy is designed to cover your property against most of the damaging risks you're likely to face as a homeowner in Mount Sterling. This includes coverage against hazards like accidental fires, severe storms, hail, and high winds.

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.

Be aware that although it is a very real risk in Mount Sterling, flood damage is not covered by homeowners insurance. Residents with homes near waterways like Hinkston Creek and Somerset Creek are most at risk, but when heavy rains fall, flash flooding can happen just about anywhere.

Fortunately, you have the option to supplement your home insurance with a separate flood insurance policy. This government-backed coverage is guaranteed and affordable. Flood insurance takes 30 days to go into effect, so don't wait until flooding is imminent to purchase a policy.

Talk to your local insurance agent for help determining how much property insurance is appropriate and for help securing an affordable flood insurance policy.

Why Is Liability Insurance Important for Mount Sterling Homeowners?

In addition to covering your home and property, homeowners insurance also provides you with personal liability protection. This liability insurance is designed to cover expenses such as court costs, legal fees, and financial damages if you are sued for any of a number of common covered events.

Examples of times your homeowners liability insurance can cover you include:

  • If a visitor to your home is severely injured in an accident on your property
  • If your child or pet causes significant injuries or property damage to someone outside your household
  • If your lawnmower kicks up a rock and it damages your neighbor’s picture window
  • If you accidentally injure someone while away from home, such as while playing baseball with friends in Easy Walker Park.
  • If you are accused of libel or slander

If you want more liability coverage than your home insurance can provide, you can supplement your homeowners insurance with an affordable umbrella insurance policy. Talk to your insurance agent to learn more about what homeowners liability insurance can do for you.

Does Mount Sterling Homeowners Insurance Cover against Burglaries?

The burglary rate in Kentucky is similar to the national rate, but in Mount Sterling, the risk is a bit higher. Residents of this city report about 35 burglaries a 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 Mount Sterling: 5.09

You can take preventive measures to lower your risk of being targeted by burglars, such as by keeping doorways unobstructed and well-lit by putting lights on timers while you are away.

Burglar alarms are among the most effective theft deterrents. In fact, many insurance companies offer policy discounts to homeowners who have installed home security systems.

Of course, nothing is foolproof. If you are the victim of a burglary, you may take comfort in knowing that your homeowners insurance can reimburse you for your losses as well as for any resultant damage to your home.

What about Insurance for Second Homes and Vacation Homes?

Some residents of Mount Sterling own more than one house. They may be vacation houses far from Mount Sterling, or they could be local properties used as investment rental homes.

Either way, these houses frequently have additional risk factors that insurance providers will consider while calculating your rates. Also, different kinds of insurance policies may be required. 

  • Vacation homes that are left unoccupied and unmaintained for long stretches of time have an increased risk of sustaining significant property damage due to severe weather events, animal activity, and property crimes. These houses will typically need to be covered by vacant home insurance during the times that they are not in use.
  • Second homes that serve as rental properties have higher liability and property damage risks, but these properties also require less in the way of contents coverage. Landlord insurance provides the right balance of coverage for rental homes and is usually required by your insurance provider if your property is occupied by tenants.

Talk to an independent insurance agent for help finding the best and most affordable policies to appropriately cover all of your residential properties.

Why Work with an Independent Insurance Agent in Mount Sterling, KY?

Independent insurance agents make it easy to find the best homeowners policy to cover your Mount Sterling home.

Unlike captive agents, independent agents are free to work with several different insurance companies so they can do the comparison shopping for you. That way, you can be certain that you're getting the coverage you need at a competitive price.

Contact an insurance agent in or near Mount Sterling to learn more. You can soon be comparing customized home insurance quotes from an assortment of highly rated insurance providers.

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