The Best Kentucky Homeowners Insurance Companies
Kentucky’s annual premiums for homeowners insurance are on the lower side — on average $1,062 per year for an HO-3 policy, compared to the nationwide average of $1,173. That said, how much you’ll pay can vary a lot depending on your home’s size, your assets, and your address. Use our tool to find your best rates:
It pays to shop around.
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What Does Homeowners Insurance Cost in Kentucky?
Average annual premium in Kentucky: $1,062
The Best Kentucky Homeowners Insurance Companies
The Bluegrass State is no stranger to wild weather, from severe spring thunderstorms and hail to floods and tornadoes. As such, having the best homeowners insurance in Kentucky is important. Shopping for the lowest premium alone may not give you the level of protection you need — in addition, look through plan details and find coverage that will protect your home from common weather-related damage. The good news? Buying homeowners insurance in Kentucky is relatively affordable, so finding the right coverage at an affordable price is possible.
How We Found The Best Homeowners Insurance Companies In Kentucky
Using our homeowners insurance review as a guide, we analyzed the top five best homeowners insurance companies in Kentucky by market share for their coverage, discounts, resources, site tools, and customer service. Then we did a little digging into their reputations, claims processes, and financial stability. We also went through each company’s process of getting a quote online to see what the experience was really like. Of course, many factors go into finding the right homeowners insurance for you. This guide will help you start the process of finding the best for your specific situation.
The 5 Best Homeowners Insurance Companies in Kentucky
- Liberty Mutual
- State Farm
- Kentucky Farm Bureau Mutual Insurance
Kentucky Homeowners Insurance Companies Reviews
Of the five homeowners insurance companies we looked at in Kentucky, Liberty Mutual excelled for its resources, discounts, and easy quote process. The company’s website is the most robust of the bunch, with a wealth of information, tools, and resources. We particularly love the state-specific page that discusses some of the most common claims in Kentucky and the coverage calculator that can help you determine how much coverage you should get for your home. There is also easily accessible information on standard policy coverages and possible additions and upgrades, like the Home Protector Plus plan, which expands coverage for replacing or rebuilding costs.
Additionally, Liberty Mutual offers 12 discounts — second only to Allstate’s 15 — so it’s likely you can save on your premium with Liberty Mutual.
Getting a quote online is relatively painless, thanks to the fact that the tool automatically pulls in public information about your property, like square footage, roof type, and number of bathrooms. However, Liberty Mutual does ask for your Social Security number before providing a quote, something we definitely don’t love and you might not love either. That said, the company boasts fairly high Consumer Reports scores for claims experience, so it’s still worth exploring as an option for homeowners insurance.
State Farm has the highest market share for homeowners insurance policies in Kentucky, and this is reflected in high financial stability and customer-claims satisfaction ratings from J.D. Power and Consumer Reports. While its website doesn’t offer as much information or as many tools upfront as Liberty Mutual or Allstate, it does have an easy-to-use online quote tool. You don’t need to enter your Social Security number for a quote, which is a plus, and you can see in real-time how various coverage options would affect your monthly premium payment. The biggest downside to State Farm is that it offers fewer discounts than Allstate and Liberty Mutual. However, it may just have the right discount and coverage you need.
If you’re looking for a good list of discounts and endorsements, Allstate is a top contender. Allstate has stable financial ratings from J.D. Power and a solid customer claims experience rating from Consumer Reports. Plus, its website provides a lot of information and plenty of customer service tools. You’ll find a good overview of what’s covered under its homeowners insurance policies, from dwelling coverage to liability and personal property coverage. In addition, the online quote process provides a descriptive breakdown of options for discounts and endorsements.
However, Allstate’s quote tool is less plug-and-play than State Farm’s, offering only three options for varying levels of coverage. We prefer the ability to put in our own numbers for things like deductible limits or specific endorsement add-ons. For example, earthquake coverage, which all insurers in Kentucky are required to offer, may be a must-have endorsement for you, and it would be nice to see how it affects your monthly premium payment. Granted, this is a minor inconvenience, and Allstate is still worth looking into thanks to its high ratings and variety of discounts.
Kentucky Farm Bureau Mutual Insurance
When it comes to protecting homeowners, Kentucky Farm Bureau is the second most popular insurer in Kentucky. It’s also the only one on our list that caters exclusively to folks in Kentucky. Like USAA, you can only buy insurance from it if you’re a member. It’s open to all farmers and their allies: anyone who supports an organization that represents the interests of agricultural producers and rural communities.
Kentucky Farm Bureau’s website lists a similar amount of endorsements and discount options as the other companies we looked into. To get specifics on estimated premium costs, though, you’ll have to talk to a local agent — there is no online quote option. And since it’s a smaller, local organization, it isn’t rated on J.D. Power or Consumer Reports for its claims process. However, if you’re willing to put in a little more work and are interested in joining the farm bureau, it might be a great option.
USAA routinely ranks high in our homeowners insurance reviews because of its incredible financial stability and customer service ratings from J.D. Power and Consumer Reports. Unfortunately, it doesn’t provide much information on its website unless you’re a member, and membership is restricted to members of the military and their immediate families. While we were unable to gather specific information about quotes, USAA typically provides competitive, affordable options. Because of this, it’s likely your best bet if you’re a member.
Kentucky Homeowners Insurance FAQ
Do I need earthquake coverage in Kentucky?
Kentucky is a pretty high-risk state for earthquakes, according to the United States Geological Survey (USGS). Not only does Kentucky lie along the New Madrid Seismic Zone in the southwest corner of the state, which has the potential to let loose a powerful quake, it’s also bordered by the Wabash Valley Seismic Zone to the north that could impact Kentucky homeowners.
Though earthquake coverage is usually not part of standard homeowners insurance policies, insurance companies in Kentucky are required to offer an additional earthquake insurance endorsement that you can purchase separately. Be sure to ask your agent or insurance company what adding an earthquake policy would cost.
Do I need flood coverage in Kentucky?
Floods are the trickiest risk when it comes to homeowners insurance coverage. Most companies don’t offer a flood insurance option, leaving that to the federal government through the National Flood Insurance Plan. But this doesn’t mean you should ignore it. Check if your Kentucky home is in a floodplain, then ask your insurance agent about getting an NFIP policy — they’re available to homeowners in 350 Kentucky communities.
Do I need sinkhole coverage in Kentucky?
Sinkholes, or ground collapses, are another risk that Kentuckians should research. The reason sinkhole coverage is important in Kentucky is because of underground mine collapses. Luckily, there’s a Kentucky Mine Subsidence Insurance Fund that offers reinsurance against the collapse of an underground coal mine that damages a structure on the surface. Take a look at this interactive map to see if you might be at risk of such an event, then ask your insurance agent about your policy options.