The best homeowners insurance provider in Kentucky, according to our findings, is AAA. This is for a variety of reasons (low premium, high J.D. Power rating, multiple discounts), but it does have some close competition. Auto-Owners Insurance, Cincinnati Insurance, State Farm, and Liberty Mutual are also well deserving of your attention. We have provided our analysis of these providers below.
The 5 Best Homeowners Insurance Companies in Kentucky
|AAA||Auto-Owners Insurance||Cincinnati Insurance Company||State Farm||Liberty Mutual|
|Our review||Our review||Our review|
|A.M Best Financial Strength Rating||A||A++||A+||A++||A|
|J.D. Power Overall Customer Satisfaction Score (Relevant region)||4/5||4/5||N/A||4/5||2/5|
|Online Quote Tool||✓||X||X||✓||✓|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Kentucky
According to Insurance Information Institute (III), the average annual premium in Kentucky is $1,109 which is relatively close to the national average of $1,211.
Bear in mind that many factors affect your premium. These include:
- Age, size, condition, construction, and specific location of home
- Type of heating
- Type of Policy
- Credit score
- Marital status
- Closest fire station or hydrant
Another thing to keep in mind is that the insurance provider you’re with can also affect your premium. Each company has its own unique algorithm, and so the cost from company to the next can vary greatly.
Home Insurance add-ons that will further protect you-
Kentucky is a pretty high-risk state for earthquakes, according to the United States Geological Survey (USGS). Not only is the New Madrid fault line in the southwest corner of the state, but it’s also bordered by the Wabash Valley Seismic Zone to the north that could impact Kentucky homeowners.
Earthquake coverage is usually not part of standard homeowners insurance policies, but insurance companies in Kentucky are required to offer an earthquake endorsement that can be purchased separately. Ask your agent or insurance company about adding an earthquake add-on.
Parts of Kentucky are prone to flooding, though statewide it’s not a common issue. To see if your home is considered to be in an area prone to flooding (or is thought to be at risk), input your address into a Fema flood map.
If you do need flood insurance, you will have to purchase it through NFIP (the National Flood Insurance Program). Flood insurance can only be purchased through the government, but some providers act as liaisons for homeowners.
Should an earthquake or flood damage your home, it will likely damage other structures you have on your property, too. Unfortunately those structures are not protected with standard policies. For that you need the other structures add-on. This optional add-on protects such structures as:
Helpful Resources for Kentucky Homeowners
The Kentucky Department of Insurance is a great resource for any type of insurance. Here you can find educational materials, statewide updates, as well as file a complaint.
If you have questions you feel as if you can’t ask your provider, they also have a list of phone numbers and emails you can use to contact an expert at KDI, which you can access here.
Apply Online vs. In-Person
It’s not absolutely necessary to meet with an agent in-person to apply, unless you have a lot of questions or prefer to do business that way. Many insurance companies allow you to handle your application entirely online.
Materials Needed for Application
Information is typically the only requirement for an application. We recommend keeping your home inspection report handy as your inspector will likely have already answered many of the questions the insurance company asks about.
If you already own the home and have done extensive work on it, you will need to be able to state what work you’ve done, how much you spent, and what materials were used.
If buying a home, your lender will require you to have a homeowners insurance policy in place before closing can be completed.
Another time factor with homeowners insurance is that if you wish to switch insurance providers, there can’t be any gaps in coverage. Lenders require homeowners to have coverage at all times, or you may face certain penalties and fines.
To determine the best providers in Kentucky, we first looked at which providers held the largest market share in the state. Secondly, we analyzed the biggest providers’ AM Best and J.D. Power ratings. Both AM and J.D. Power are good sources for information regarding a company’s financial strength and customer satisfaction.
Additionally, we also looked at:
- Average premium cost
- Policy offerings
- Discount opportunities
- Claims against the company
- Tech savviness (online resources, mobile app, etc.)
- Better Business Bureau rating
Based on our findings, we have chosen the following providers as offering the best homeowners insurance in Kentucky.
Best Kentucky Homeowners Insurance Companies
- Great customer service
- Special member perks and discounts
- Must already be a member of AAA to purchase homeowners insurance
AAA is highly ranked when it comes to customer satisfaction, receiving ⅘ from J.D. Power. Members of AAA have access to special discounts, such as savings if you’re over the age of 50, and resources on the AAA website are endless.
A significant limitation is that with AAA, you must already be a member before you can purchase homeowners insurance. However, for those who are already AAA members, this provider deserves consideration.
- Multiple discount opportunities
- Resources and tools for its members
- Solid website
- Must contact an agent to make a change to your policy
Auto-Owners Insurance is another top notch insurance provider that gives members numerous opportunities to save, such as installing home safety devices, bundling home and auto, and paying in full. Another is that it has a great amount of resources and tools online for its members to use so that they get the most out of their policy.
One downside to keep in mind with Auto-Owners is that you can’t make a change to your policy online. You must contact an agent to do it for you.
Cincinnati Insurance Company
- Offers multiple policies and multiple discounts
- Has the lowest average premiums in Kentucky
- No J.D. Power Rating
The only unknown with Cincinnati is that it doesn’t have a J.D. Power rating; however, it does have an A+ with the BBB which is one indicator of customer satisfaction.
- Great mobile app
- Strong financial rating
- Average customer satisfaction ratings
State Farm is one of the largest insurance providers in the nation, and one of the most advanced from a digital perspective. It also has the highest financial rating that is possible with AM Best, indicating top tier financial strength.
State Farm is one of the few with a completely functional mobile application, allowing members to conduct insurance tasks digitally.
However, State Farm’s customer satisfaction ratings are only just average compared to some of our other providers.
- Optional add-on protection
- Unique discounts
- Subpar customer satisfaction
Liberty Mutual stands out primarily because of its optional add-on coverages for things like water backup and sump pump overflow, as well as inflation protection. In addition, Liberty Mutual gives policyholders unique ways to save on their premium, such as an automatic discount just for obtaining a quote.
The downside to Liberty Mutual is that its customer satisfaction ratings could be higher. Liberty Mutual only currently scores a 2 out of 5 from J.D. Power.
The Cheapest Homeowner Insurance Companies In Kentucky
|Homeowner Insurance Companies||Average Annual Premium|
|Cincinnati Ins Co||$893|
|Garrison Property & Casualty Insurance Company||$1,415|
|Liberty Mutual Fire Insurance Company||$2,229|
|Kentucky Farm Bureau Mutual Insurance Company||$2,676|
|Average Across Insurance Providers||$1,632|
Homeowner Insurance by Age of Home
|Age of Home||Average Annual Premium|
|Average Across Ages||$2,064|
Quadrant home insurance rate data as of 12/01/2019.
These rates are a sample set meant only for general comparison. Your own premium will vary. Learn how we tested rates for the cheapest home insurance companies in our methodology.
Top 3 Cheapest Homeowner Insurance Companies in Kentucky
- Cincinnati Insurance Company – $893
- USAA – $1,125
- Auto-Owners Insurance – $1,175
Top 3 Most Expensive Homeowner Insurance Companies in Kentucky
- Kentucky Farm Bureau Mutual Insurance Company – $2,676
- Liberty Mutual Fire Insurance Company – $2,229
- Encompass – $2,036
Quadrant data indicates the cheapest homeowners insurance provider in Kentucky is Cincinnati Insurance Company, with an average annual premium of $893. The most expensive is Kentucky Farm Bureau Mutual Insurance Company with $2,676.
Bear in mind that these numbers only represent company averages. To get a more personalized quote, you will need to contact each company individually.
Homeowners Insurance FAQ
You are not legally required to have homeowners insurance in Kentucky. If you have a mortgage however, your lender will most likely require you to be insured up to the value of your loan.
The cheapest homeowners insurance is Cincinnati Insurance Company with an average annual premium of $893.
The cheapest providers in Kentucky are Cincinnati Insurance Company, USAA, Auto-Owners Insurance, and AAA.