Best & Cheapest Homeowners Insurance in Lexington, KY 2024
Travelers provides the most affordable homeowners insurance for homeowners in Lexington, with an average yearly quote of $642.
In our thorough examination of homeowners insurance providers in Lexington, Kentucky, Travelers emerges as the most wallet-friendly choice, with average annual rates of $642. However, it’s essential to note that the ideal insurer can vary based on your specific circumstances and needs.
For example, if your credit score has been impacted negatively, Allstate stands out as the most economical option with an average yearly premium of $1,496. Conversely, if your home is older, Auto-Owners takes the lead with competitive rates of $1,746 annually and comprehensive coverage.
On the other hand, if you own a newly constructed home, Travelers again offers the most cost-effective solution at $490 per year.
Finally, if you have valuable personal property that requires protection, USAA proves to be the best choice, offering extensive coverage at a reasonable $854 per year.
Our detailed analysis at Insuranceopedia is crafted to assist you in finding the perfect fit for your homeowners insurance requirements. Through comparing customer ratings, evaluating personal experiences, and presenting comparison charts, we aim to equip you with all the necessary information to make an informed decision.
How much is homeowners insurance in Lexington, KY?
Travelers provides the most budget-friendly homeowners insurance rate in Lexington, priced at $642 annually.
As shown below, rates in Lexington are lower than both the national average and the average rate for the state of Kentucky.
| Area | Average Monthly Rate |
| National | $1,820 |
| Kentucky | $2,561 |
| Lexington | $1,004 |
It’s important to note that insurance rates aren’t one-size-fits-all; they can vary significantly based on various factors.
Cheapest Homeowners Insurance in Lexington, KY
Our Methodology
To determine the most affordable home insurance rates in Lexington, we conducted an analysis of data from various home insurance review platforms. Some of these platforms examined rates sourced from public filings acquired by Quadrant Information Services. We have calculated an average of these rates for this review. However, it's important to note that the rates offered by each company fluctuate regularly and can vary depending on your specific circumstances. Additionally, our overall rating takes into account my subjective opinion, which is based on fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
Cheapest Homeowners Insurance in Lexington, KY
Travelers stands out as the most cost-effective choice for homeowners insurance in Lexington, KY, offering an average annual rate of $642.
| Company | Annual Premium |
| Travelers | $642 |
| Allstate | $790 |
| State Farm | $943 |
| USAA | $829 |
| Auto-Owners | $1,850 |
Your policy’s cost is determined by various factors, such as your location, the value of your home, and your claims history. Travelers provides a well-rounded combination of affordability and comprehensive coverage.
Cheapest Homeowners Insurance If You Have an Older Home
If you have an older home, Auto-Owners provides the most affordable rates, averaging $1,746 per year.
| Insurance Company | Average Annual Premium |
| Auto-Owners | $1,746 |
| Progressive | $1,904 |
| Nationwide | $2,006 |
| State Farm | $2,365 |
| Allstate | $2,897 |
Older homes often carry distinct risks and maintenance challenges, potentially increasing insurance expenses. However, Auto-Owners provides competitive rates and comprehensive coverage specifically designed to address the requirements of older homes.
Cheapest Homeowners Insurance for Newly Constructed Homes
If you own a newly constructed home, Travelers provides the most affordable option, with an average annual rate of $490.
| Insurance Company | Average Annual Premium |
| Travelers | $490 |
| USAA | $567 |
| Allstate | $590 |
| State Farm | $730 |
| Auto-Owners | $1,320 |
Newly constructed homes often demand different coverage compared to older ones, and Travelers excels in offering affordable policies tailored to these specific requirements.
Cheapest Homeowners Insurance If You Have Poor Credit
If you have a poor credit score, Allstate offers the most affordable solution, with an average annual rate of $1,496.
| Insurance Company | Average Annual Premium |
| Allstate | $1,496 |
| USAA | $1,564 |
| Nationwide | $1,843 |
| State Farm | $2,056 |
| Auto-Owners | $2,116 |
Your credit score can have a significant impact on your insurance rates since insurers use it to assess risk. Allstate recognizes the importance of providing fair coverage to everyone, regardless of their financial history.
Cheapest Home Insurance Rates for Lots of Personal Property
If you possess a significant amount of personal property, USAA provides the most affordable rates, averaging $854 annually.
| Insurance Company | Average Annual Premium |
| USAA | $854 |
| Allstate | $879 |
| Travelers | $940 |
| State Farm | $973 |
| Auto-Owners | $1,934 |
As your personal property increases, so do your coverage needs, potentially leading to higher premiums. However, USAA offers comprehensive coverage at reasonable rates, ensuring all your belongings are adequately protected.
Best Homeowners Insurance Companies in Lexington, KY
Selecting the appropriate homeowners insurance isn’t merely a requirement; it’s a strategic choice. Given Lexington’s rich history, its homes are as distinctive as its residents. Therefore, locating an insurance provider that offers thorough coverage at competitive rates becomes essential.
To simplify your decision-making process, we’ve assembled a roster of the top homeowners insurance companies in Lexington, KY. These companies have been evaluated on criteria such as annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Explore our comparison chart below to identify the ideal match for your home insurance requirements.
| Company | Annual Premium | |
| 1. | Travelers | $642 |
| 2. | Allstate | $790 |
| 3. | State Farm | $943 |
| 4. | USAA | $829 |
| 5. | Nationwide | $1,850 |
| 6. | AAA | $1,868 |
| 7. | Farm Bureau | $1,899 |
| 8. | Auto-Owners | $2,378 |
| 9. | Progressive | $3,432 |
Average Home Insurance Rates by Zip Codes
The price of homeowners insurance in Lexington, KY can fluctuate greatly depending on the zip code. Below are tables displaying rates for various zip codes in Lexington, along with the cheapest and most expensive zip codes in the area for annual home insurance premiums.
| ZIP Code | Average Insurance Premium (Annual) |
| 40511 | $1,433 |
| 40505 | $1,437 |
| 40502 | $1,443 |
| 40503 | $1,464 |
| 40514 | $1,460 |
| 40515 | $1,469 |
Cheapest Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 40511 | $1,433 |
| 40505 | $1,437 |
| 40502 | $1,443 |
Most Expensive Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 40503 | $1,464 |
| 40514 | $1,460 |
| 40515 | $1,469 |
Average Home Insurance Rates in Lexington, KY by Deductible Amount
The chosen deductible amount for a homeowners insurance policy has a significant impact on premium rates in Lexington, KY. Here’s how the average home insurance rates fluctuate for different deductible amounts:
| Deductible Amount | Average Annual Premium |
| $500 | $1,272 |
| $1,000 | $1,182 |
| $1,500 | $1,118 |
| $2,000 | $1,046 |
| $5,000 | $895 |
Average Home Insurance Rates in Lexington, KY By Coverage Amount
One crucial factor that affects your premium is the dwelling coverage amount. This represents the maximum sum your insurance company will pay to rebuild or repair your home if it’s damaged or destroyed.
Below is a comparison chart outlining the average annual homeowners insurance premiums for various dwelling coverage amounts.
| Dwelling Coverage Amount | Average Annual Premium |
| $200,000 | $1,052 |
| $250,000 | $1,181 |
| $300,000 | $1,368 |
| $350,000 | $1,507 |
| $400,000 | $1,778 |
Average Home Insurance Rates in Lexington, KY by Company
Below is a comparison of annual premiums from leading insurance providers in Lexington.
| Company | Annual Premium |
| Travelers | $642 |
| Allstate | $790 |
| State Farm | $943 |
| USAA | $829 |
| Nationwide | $1,850 |
| AAA | $1,868 |
| Farm Bureau | $1,899 |
| Auto-Owners | $2,378 |
| Progressive | $3,432 |
How Much is Homeowners Insurance for Other Cities in Kentucky?
Here’s a comprehensive comparison chart displaying the most affordable companies and their annual premiums across different cities in Kentucky.
| City | Annual Premium |
| Louisville | $2,072 |
| Big Creek | $2,147 |
| Buffalo | $1,580 |
| Glendale | $1,460 |
Getting Online Homeowners Insurance Quotes in Kentucky
With informative platforms like Insuranceopedia, discovering the ideal coverage for your specific needs is only a few clicks away. By offering swift online quotes from numerous top-rated insurers, Insuranceopedia enables you to compare rates effortlessly.
Simply input your details, and let us handle the heavy lifting by presenting you with a selection of options tailored to your needs. This allows you to confidently select a policy that provides the best value, striking a balance between cost and comprehensive coverage.
FAQs
Who has the cheapest home insurance in Lexington, KY?
Travelers offers the most affordable home insurance in Lexington, Kentucky, with an annual premium of $642.
What is the average cost of home insurance in Lexington, KY?
The typical expense for homeowners insurance in Lexington, Kentucky, averages around $1,004 annually.
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