On the edge of the rich farmland of the Jackson Purchase, Murray, KY is a great place to live in. The farmland is some of the richest in the nation, and the long history ties the people close to the land. The home of Murray State, it’s also a place with a rich collegiate tradition and an active social life. It’s the heart of rural America in more ways than one. To own a home in Murray, home insurance is a must. Tornadoes are common enough that it’s important to be protected when disaster strikes. That’s where your local Independent Insurance Agent comes in. They will gather quotes for your home from many agencies so that you can compare them to find affordable home insurance that fits your needs.
Overall, homeowners insurance is very reasonably priced in Kentucky. Across the United States, homeowners pay an average of $1,034 on home insurance premiums. In Kentucky it’s just a little less, with an average of $913, ranking it right in the middle of all the states at number 27 among the states. Homes are a bit more expensive to insure in Murray because of the history of tornado damage. When one does hit, the damage is often severe and widespread, making the cost of rebuilding high. Protecting yourself from loss is the best way to protect your investment so that you can go back to enjoying the good life that Murray has to offer after the storm has passed.
Murray Second Home and Vacation Home Insurance
Insuring a vacation home is the same as insuring your main residence in many ways. Homeowners often opt to have less coverage on their second home to keep the cost affordable, but this is risky. If you do this, you are liable for anything that happens. Vacation homes can actually be more expensive to insure because no one is there most of the time. This increases the risk of theft and vandalism, among other concerns.
If you can rent part of your property to someone who can act as caretaker when you aren’t there, your insurance costs are likely to be lower. Talk with your agent about your needs to make sure that you find the lowest cost for your homeowners insurance on your second home without taking on more risk than you can handle.
Number of Thefts in Kentucky
Theft from homes is less likely in Kentucky than in other states, and Murray has the lowest crime rate of any part of the state.
- Nationally 37,814 thefts are reported yearly in the average state.
- In Kentucky the average is 26,213 per year.
You can minimize the cost of protection against theft, no matter what coverage you choose, with a home security service. That will help you keep the lowest cost without sacrificing the insurance you need if the worst should happen.
Number of Catastrophes in Kentucky
Most of Kentucky has a low rate of catastrophes, but Murray is prone to tornadoes, averaging two per year. These are the catastrophe statistics for the state in recent years:
- There were 743 catastrophes reported in Kentucky.
- This includes 17 tornadoes, most of them in the western part of the state.
- The insured property damage in recent years was $12,300,000.
- Overall, 1 in 15 homes has a claim every year in the U.S.
You need to have a policy that not only covers your home but also pays out quickly so that you can recover from a storm after it is gone. The protection that you need depends on your situation, which is why every policy is customized to fit your particular needs. No matter what, however, tornadoes and the thunderstorms that roll in off the Mississippi valley can cause a lot of damage that you need to be protected from.
What Are the Risks in Murray?
Aside from tornadoes, there aren’t many risks for homeowners in Murray. But you need to be protected from them and have an adequate storm shelter to avoid injury to yourself and your family when one strikes. The cost of your insurance may be lower if you have some protection that keeps your contents safe, so it’s best to shop around to find the best insurance that fits your situation.
Compare Murray Home Insurance Quotes
Your Independent Insurance Agent is vital to finding the best insurance for your lifestyle and your home here in Murray. Because agents live here, they know what to ask for and how to find multiple quotes from many carriers to get you the lowest cost policy fitting your needs.
Call an agent today to make sure you have the right policy for you at the price that fits your budget.