Renters Insurance By The Numbers

Average renters insurance cost $117 Year

National average cost to rent in US $1,825 Per month

Personal Lines

Most common type of disaster in U.S. Flood

Popular Questions about Kentucky Renters Insurance

  • National yearly average: $188
  • Kentucky yearly average: $170

On average, Americans pay $188 per year for their renters insurance. Kentucky renters pay on average of about $170 per year. Make sure you're getting the best rate by comparing quotes from a variety of insurance companies with the help of a Trusted Choice® independent insurance agent. It's important, considering you never know what kind of weather or crime you may encounter. It's a small price to pay to be prepared against an unexpected break-in or flooding so that you can stay financially stable.

Accidents happen. If you're renting your apartment or home, you need the proper protection from unexpected situations. But first, you need to know what kind of protection you have. Here's what your renters insurance does for you:

  • Pays for someone else's injuries or property damage when it's your fault. Example: You accidentally cause water damage that spreads to neighboring units.
  • Pays for repairs to your belongings. Example: Someone breaks into your apartment and steals your brand-new TV.
  • Pays for temporary living expenses when your home is damaged. Example: You need a hotel while your apartment gets repaired after a kitchen fire. 

Kentucky does not require every renter to have insurance.  But your lease might, so check it to see. If it does, you'll need coverage that will pay for accidental damage. Most landlords and rental companies have similar requirements to ensure that their tenants are prepared for accidents they cause or may inadvertently be a part of.

Just because you don’t own your apartment doesn’t mean that you can’t suffer a loss. Apartment buildings are still subject to fires and flooding. If you lost all your personal belongings in a fire, how would you start over? The landlord’s policy will only cover damage to the apartment. Don’t make the mistake of assuming it also covers your personal property. While there is no legal obligation to purchase Kentucky renters insurance, it’s a good idea.

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