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Renters Insurance In Kentucky

Last modified: Sep 29, 2022

Even though renters insurance in Kentucky isn’t mandated by state legislation, it is worth having. A renters policy ensures that you do not have to bear the financial loss in case your home and your valuables get damaged or lost due to fire, theft, and a range of other unfortunate incidents.

The average cost of renters insurance in Kentucky is $186, which is $1 higher than the national average but still quite affordable. While the price is an important metric when choosing a renters policy, it alone should not be the determining factor. 

You should check what the company has to offer and if it truly lives up to its claims. Sounds too much work? Don’t worry; we’ve got you covered! If you are looking for affordable insurance outside of Kentucky- make sure to check out our list of best renters insurance providers in the US.

We did the research for you and compiled a list of the best companies for renters insurance in KY

Our Methodology

To choose the best renters insurance in Kentucky, we adopted a comprehensive approach. 

We focused on the leading Kentucky renters insurance companies to figure out what coverage options they offer, their costs, ratings, user reviews, and customer support. 

Next, we evaluated each company’s pros and cons and compared them to figure out if a company offers good value for money. 

To shortlist the best renters insurance in Kentucky, we generated quotes using the following metrics:

Below you’ll find a list of companies that offer the best renters insurance in Kentucky, along with all the essential details you need to know to make an informed decision. Take a look to choose the right renters insurance in Kentucky! If you are looking for renters insurance companies nationwide - make sure to check out our list of best renters insurance companies.

Best Companies for Renters Insurance in Kentucky

The following KY renters insurance providers offer the best policies for a good price:

State Farm

State Farm offers cheap renters insurance in KY. This, when coupled with the fact that the company has been in the industry for about 100 years, makes it one of the best renters policy providers for Kentucky tenants. Let’s see what renters insurance in KY by State Farm has to offer:

Coverage Details

Optional Coverage Plans

Financial Strength and Customer Support Ratings

Cost Per Month

The average cost of renters insurance in KY with State Farm is $16 per month.

Pros 

Cons

Travelers

Travelers has been in the insurance industry for over 160 years. If this isn’t enough to convince you about the company’s reliability and quality of service, the company is also known for providing a wide range of coverage options in every category of renters insurance. 

Let’s take a look at what its renters policy includes:

Coverage Details

Optional Coverage Plans

Financial Strength and Customer Support Ratings

Cost Per Month

The average cost of Travelers renters insurance in Kentucky is $17 per month.

Pros 

Cons

Safeco

Here’s what the standard renters insurance provided by Safeco in Kentucky looks like:

Coverage Details

Optional Coverage Plans

Financial Strength and Customer Support Ratings

Cost Per Month

For Safeco renters insurance in Kentucky, you can expect to pay about $12 to $13 per month, on average. 

Pros 

Cons

Nationwide

Nationwide is one of the most well-known and reliable names in the insurance industry. Let’s take a look at what its KY renters policy includes:

Coverage Details

Optional Coverage Plans

Financial Strength and Customer Support Ratings

Cost Per Month

Nationwide’s KY renters insurance costs about $19 per month. This makes it the second most expensive renters insurance in Kentucky.

Pros 

Cons

Allstate

Here’s what Allstate offers to Kentucky renters:

Coverage Details

Optional Coverage Plans

Financial Strength and Customer Support Ratings

Cost Per Month

The average cost of Allstate renters insurance in Kentucky is $18 per month. 

Pros 

Cons

Liberty Mutual

Liberty Mutual is one of the most experienced and dependable renters insurance providers in the US. However, their renters policy also costs more than most others. Let’s take a look at what they offer to Kentucky residents:

Coverage Details

Optional Coverage Plans

Financial Strength and Customer Support Ratings

Cost Per Month

Liberty Mutual offers the most expensive renters insurance in Kentucky at the average cost of $21 per month.

Pros 

Cons

 

Average Cost of Renters Insurance by City

Here’s a brief overview of the prices you can expect in different cities in KY. Renters insurance in Louisville, KY, is the most expensive, whereas renters insurance in Covington is the cheapest in the state. Renters insurance in Lexington, KY ranks as the second cheapest.

City Average Cost Per Year
Louisville $245
Lexington $181
Bowling Green   $214
Owensboro $217
Covington $173

 

A Buyer’s Guide to Renters Insurance in Kentucky

The state law of Kentucky doesn’t require tenants to carry renters insurance. Still, many landlords have made it a prerequisite for renting their properties. 

It’s also wise for you as a tenant to have an insurance policy that covers the damage or loss of your personal items due to an unfortunate incident because your landlord’s policy won’t cover your personal losses. 

Renters insurance in Kentuckycovers damage and/or loss of your personal belongings due to fire, theft, or vandalism. It also offers liability coverage for damage to the property as well as pays the medical bills if a guest gets injured in your house.

Renters insurance in Kentucky also covers additional living expenses in cases where your house becomes uninhabitable due to an incident that is covered by the policy.

Insurance companies in Kentucky typically do not provide protection against earthquake and flood damages as part of the standard renters policy. Most policies also have a total dollar limit for the amount they’ll pay in case of damage or loss, which may not cover the cost of highly valuable items, like antiques, expensive watches, and jewelry

What most companies do is give you the option to increase your coverage by providing a range of optional coverage plans for tenants. You can either buy additional coverage plans or look for comprehensive packages offered by various renters insurance companies. 

For those who do not know, you have two basic types of renters insurance in Kentucky:

The first one has a list of named perils that you are offered protection against, whereas the latter provides protection from all-risks.

Tips on Saving on Renters Insurance in Kentucky

On average, renters insurance in Kentucky costs $15.5 per month or $186 per year, which is quite affordable. You can further reduce the cost of your renters policy by looking for a discount on the company’s website. 

Most renters insurance companies offer different types of discounts, including but not limited to bundle policy discounts, member discounts, safety discounts, discounts for certain professionals, and for retirees. You can also lower your premium by opting for a higher deductible. 

Lastly, some companies also offer better rates to people with good credit scores, so if you have a strong credit history, it’s worth checking with your insurance company to find out if they can offer you a discount for that.

If all of this is too much hassle for you, simply choose the cheapest KY renters insurance from our list of cheap renters insurance in Kentucky given above.

FAQ

Can a landlord require renters insurance in Kentucky?

Yes, a landlord can make it mandatory for tenants to have renters insurance.

Can I be forced to have renters insurance in Kentucky?

Technically, no one can force you to have renters insurance in Kentucky. However, landlords can refuse to lease their property to you if you do not have a renters policy.

What are the renter insurance laws in Kentucky?

There’s no law in Kentucky that requires tenants to carry a renters policy. But there are several state laws to regulate landlord-tenant relationships and that can lead to disputes between them.

Is flood damage and wind damage covered under renters insurance in Kentucky?

While most renters insurance companies in Kentucky offer coverage against wind damage, they do not offer protection against damage caused by floods as part of the standard renters policy. What you can do is buy flood protection as optional coverage.

Does Kentucky renters insurance cover liability outside the house?

Yes, Kentucky renters insurance covers liability both inside and outside the house.

What is the cost of average renters insurance in Kentucky?

If you wonder how much is renters insurance in Kentucky - it’s quite affordable. On average, standard KY renters insurance costs about $186 per year. Use this guide for renters insurance in Kentucky to choose the best renters policy for yourself.

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