Best Homeowners Insurance in Kentucky (2024)
Cincinnati Insurance Company is the best homeowners insurance company in Kentucky. It charges the state’s cheapest average rate of $169 a month, and also offers the best selection of home insurance discounts.
State Farm is Kentucky’s best home insurance company for customer satisfaction, while Allstate has the best coverage options.
Cheapest homeowners insurance in Kentucky
Cincinnati Insurance Company and Allstate are the cheapest home insurance companies in Kentucky. Cincinnati Insurance Company charges $169 a month, or $2,030 a year, on average, while Allstate’s average rate is $187 a month, or $2,240 a year.
Both companies’ average rates are well below the state average home insurance rate of $389 a month, or $4,671 a year.
| Company | Annual rate | Monthly rate |
|---|---|---|
| Cincinnati Insurance Company | $2,030 | $169 |
| Allstate | $2,240 | $187 |
| State Farm | $2,661 | $222 |
| Travelers | $5,390 | $449 |
| Kentucky Farm Bureau | $6,719 | $560 |
| AAA | $8,984 | $749 |
To find the cheapest home insurance rate for your situation, compare home insurance quotes from several companies while you shop around for coverage.
Best homeowners insurance companies in Kentucky
Cincinnati Insurance Company, State Farm and Allstate are the best home insurance companies in Kentucky due to their low rates, coverages, discounts and reputations for customer service.
| Company | Best for | Average annual rate | Customer satisfaction* | Complaint index** |
|---|---|---|---|---|
| Cincinnati Insurance Company | Cheap rates, discounts | $2,030 | Not rated | 0.22 |
| State Farm | Customer satisfaction | $2,661 | 829 | 1.05 |
| Allstate | Coverage options | $2,240 | 809 | 1.3 |
*Higher is better; 819 is average
**Lower is better; 1.0 is average
Best overall: Cincinnati Insurance Company
Cincinnati Insurance Company is Kentucky’s best homeowners insurance company due to its low rates, wide range of discounts and good complaint rating.
| Pros | Cons |
|---|---|
Lowest average home insurance premiums in Kentucky Offers the most home insurance discounts of the companies we surveyed Second-best complaint rating of surveyed companies | Most optional coverages limited to owners of high-value homes |
Best for cheap rates: Cincinnati Insurance Company
If you want cheap home insurance above all else, Cincinnati Insurance Company is the best company for you. Cincinnati Insurance Company has the cheapest home insurance in Kentucky, with rates that average $2,030 a year, or $169 a month.
Cincinnati’s average home insurance rate is 10% lower than that of second-place Allstate. It’s also 79% lower than the state average rate.
Best for customer satisfaction: State Farm
State Farm earned the highest score (829) from J.D. Power’s 2023 U.S. Home Insurance Study among the Kentucky home insurance companies we surveyed.
This study’s scores are based on customer surveys that rate insurance companies on factors like price, policy offerings and claims. The highest possible score is 1,000, while the segment average is 819.
| Pros | Cons |
|---|---|
Highest customer satisfaction rating of surveyed companies Average premium is affordable and well below the state average | Doesn’t offer many discounts or optional coverages Complaint rating is average |
Best coverage options: Allstate
Allstate is the best home insurance company for coverage options in Kentucky. Some of the optional coverages you can add to a home insurance policy bought through Allstate include:
- Green improvement reimbursement
- Electronic data recovery
- Identity theft restoration
- Sports equipment
- Musical instruments
- Water backup
| Pros | Cons |
|---|---|
Offers more optional coverages than any other company we surveyed in Kentucky Also offers many discounts Second-cheapest average home insurance rate in the state | Customer satisfaction rating is below average Complaint rating is the worst of the companies surveyed |
Best discounts: Cincinnati Insurance Company
Cincinnati Insurance Company offers more home insurance discounts than any of the other companies we surveyed in Kentucky. You can get common discounts from Cincinnati, like ones for bundling home and auto coverage or for buying a newer home, but you may also save money for:
- Automatic water shutoff systems
- Permanently installed backup generators
- Living in a secured community
- Having a year-round, live-in caretaker
Homeowners insurance average cost in Kentucky
The average cost of home insurance in Kentucky is $4,671 a year, or $389 a month.
You’ll usually pay more than this average amount if your home has a dwelling coverage limit that’s higher than $400,000. And you’ll usually pay less if your dwelling limit is lower.
| Dwelling limit | Annual rate | Monthly rate |
|---|---|---|
| $350,000 | $4,080 | $340 |
| $400,000 | $4,671 | $389 |
| $450,000 | $5,337 | $445 |
Your home insurance policy’s dwelling coverage helps pay to repair or rebuild the structure of your home if a covered peril damages or destroys it. Covered perils include events like fires, hail or even vandalism.
Your dwelling limit isn’t the only factor that determines what you pay for home insurance in Kentucky and elsewhere. Other home insurance rate factors include:
- Where you live in the state
- The age of your home
- The amount of coverage you buy
- Your deductible
- Your credit, insurance and claims history
Kentucky home insurance rates by city
Georgetown and Lexington-Fayette pay the lowest home insurance rates among Kentucky’s largest cities, with both averaging $3,141 a year, or $262 a month.
Homeowners in Hopkinsville pay the highest rates, at an average of $4,376 a year, or $365 a month.
| City | Annual rate |
|---|---|
| Bowling Green | $4,339 |
| Covington | $3,176 |
| Elizabethtown | $3,858 |
| Florence | $3,168 |
| Frankfort | $3,365 |
| Georgetown | $3,141 |
| Henderson | $3,817 |
| Hopkinsville | $4,376 |
| Independence | $3,232 |
| Jeffersontown | $3,946 |
| Lexington-Fayette | $3,141 |
| Louisville | $3,947 |
| Nicholasville | $3,553 |
| Owensboro | $3,665 |
| Richmond | $3,646 |
The average home insurance rate in Louisville is $3,947 a year, or $329 a month.
Additional home insurance coverages in Kentucky
Kentucky homeowners face severe weather throughout the year, including tornadoes, severe thunderstorms and hail. Although standard home insurance covers damage caused by most of these perils, it doesn’t cover flood damage. For that, you need separate flood insurance.
Flood insurance in Kentucky
To protect your home from flooding, you need to buy separate flood insurance coverage.
Kentucky state law doesn’t require homeowners to buy flood insurance, but your mortgage lender might require it if you live in a high-risk flood zone.
You can buy flood insurance through the National Flood Insurance Program (NFIP) or some private insurance companies.
Frequently asked questions
Kentucky homeowners insurance laws do not require you to buy home insurance. Most lenders require home insurance if you take out a mortgage with them, though. Lenders also often require flood insurance if your home is in a high-risk flood zone.
Kentucky home insurance costs $4,671 a year, on average, or $389 a month. The exact price you pay depends on a number of factors, including how much coverage you need, the deductible you choose and the age of your home.
Cincinnati Insurance Company has the cheapest homeowners insurance in Kentucky, with an average rate of $2,030 a year, or $169 a month.