How to Get Cheap Renters Insurance in Kentucky
Best cheap Kentucky renters insurance
Cheapest renters insurance in Kentucky
State Farm has the cheapest renters insurance in Kentucky at $151 a year. This is only slightly less than Allstate’s rate of $160 a month.
State Farm also has a higher J.D. Power J.D. Power’s satisfaction scores are based on customer surveys rating companies on factors like price, coverage options and problem resolution. satisfaction rating than Allstate, which generally means happier customers.
Kentucky renters insurance rates
| Company | Monthly Rate | Annual rate | LendingTree score | |
|---|---|---|---|---|
 | State Farm | $13 | $151 |  |
 | Allstate | $13 | $160 |  |
 | Progressive | $21 | $250 |  |
 | Assurant | $22 | $262 | |
 | Amica | $28 | $340 |  |
Your actual rate depends on factors like the type of unit you rent and the amount of coverage you need. Each company treats these factors differently, and their rates vary by customer. This makes it important to compare renters insurance quotes from a few different companies.
Best renters insurance companies in Kentucky
- State Farm is Kenucky’s best renters insurance company for cheap rates.
- Allstate, which is almost as cheap, is often the best company for retired renters.
- Assurant has Kentucky’s best renters insurance coverage options.
All three companies have strong financial ratings from AM Best. Among other things, this shows they can pay claims.
Kentucky renters insurance ratings
| Company | Monthly rate | Satisfaction rating Source: J.D. Power 2024 U.S. Home Insurance Study. Higher is better, 659 is average. | AM Best rating |
|---|---|---|---|
| State Farm | $13 | 679 | A++ |
| Allstate | $13 | 639 | A+ |
| Assurant | $22 | Not rated | A+ |
Best for cheap rates: State Farm
Monthly rate: $13
Pros
Cheapest renters insurance in Kentucky
Good customer satisfaction rating
Covers pet damage to your unit
Cons
Limited discounts
State Farm’s renters insurance rates are 37% less than the state average of $20 a month.
Its liability coverage includes up to $500 for damage a pet causes to your unit. This can come in handy if you’re a pet owner. Some companies don’t cover pet damage to your unit at all.
State Farm doesn’t have as many insurance discounts as some competitors, although it does lower your premium if you bundle your policy with their car insurance, or if your unit has basic security devices like smoke detectors and dead-bolt locks.
Best for retired renters: Allstate
Monthly rate: $13
Pros
Discounts for retired renters, and for bundling and auto-pay
Rates almost as low as State Farm
Extra insurance protections available
Cons
Satisfaction rating is worse than the industry average
A 25% discount for retirees over 55 years old can make Allstate a money-saving option for older renters. You can save even more by bundling your renters policy with your car insurance and setting up automatic payments.
Allstate also makes it easy to add more protection to your policy. It offers add-on coverage for valuables like jewelry, as well as extra liability coverage Helps cover legal expenses, medical bills and other damages if someone gets injured at your rental home and sues you. and other options. However, Allstate’s low satisfaction score means other renters insurance companies may have happier customers.
Best coverage options: Assurant
Monthly rate: $22
Pros
Covers your belongings at replacement cost
Policies often cover mold damage
Add-on coverage for pet damage
Cons
Limited discounts
The usual Assurant renters policy covers your belongings at their “replacement value.” This pays to replace damaged or stolen items with new ones — rather than many other companies which only pay the lower “actual cash value,” after depreciation.
The company also covers mold damage and offers add-on coverage for pet damage to your unit.
Unfortunately, Assurant does not offer very many discounts. This can make it more expensive than other companies, which have more ways to lower your premium.
Kentucky renters insurance rates by city
Among Kentucky’s largest cities, Madisonville has the most expensive renters insurance at $23 a month — just a little more expensive than the $22-a-month average in Ashland, Henderson and Hopkinsville.
Florence, on the other hand, has Kentucky’s cheapest renters insurance at $17 a month. Eight cities tied for the second-cheapest rate of $19 a month.
Tenants in Louisville pay an average of $20 a month for renters insurance. This is on par with the state average, also $20 a month. Renters insurance in Lexington costs an average of $19 a month.
Renters insurance rates near you
| City | Monthly rate |
|---|---|
| Ashland | $22 |
| Bowling Green | $19 |
| Burlington | $19 |
| Covington | $21 |
| Elizabethtown | $19 |
| Erlanger | $21 |
| Florence | $17 |
| Fort Thomas | $20 |
| Frankfort | $21 |
| Georgetown | $19 |
| Henderson | $22 |
| Hopkinsville | $22 |
| Independence | $19 |
| Lexington | $19 |
| Louisville | $20 |
| Madisonville | $23 |
| Mount Washington | $21 |
| Nicholasville | $20 |
| Owensboro | $19 |
| Paducah | $22 |
| Radcliff | $21 |
| Richmond | $19 |
| Saint Matthews | $21 |
| Winchester | $21 |
Does Kentucky require renters insurance?
Kentucky law does not require renters insurance. However, many landlords require it for a lease.
Renters insurance is often worth getting even when it’s not required for a lease. It’s cheap, and your renters insurance coverage can come in handy after a burglary, fire or other disaster.
Your landlord’s insurance usually takes care of structural damage to your unit or building, but not your personal possessions.
You can get renters insurance for just about any type of unit. This includes an apartment, house, condominium unit or mobile home.
What does renters insurance cover?
A typical renters insurance policy includes coverage for:
- Your personal property, or belongings
- Additional living expenses for temporary housing after a covered disaster
- Personal liability for injuries or damage you cause to others
- Medical expenses for a guest injured at your home
Renters insurance usually covers common disasters like fires, windstorms and burst pipes. However, renters insurance does not cover everything: You’ll need separate insurance for floods, earthquakes or sinkholes.
Renters insurance usually only provides limited coverage for certain valuables. For example, many companies cap their standard coverage for jewelry $1,000 or so.
However, most companies offer optional add-ons that give these items more protection. It’s good to ask about these coverage options for any valuables you may have.
Frequently asked questions
Renters insurance costs an average of $20 a month in Kentucky. You can usually get it for less if you bundle your car and renters policy with the same company.
At $151 a month, State Farm has the cheapest renters insurance in Kentucky. Allstate is only slightly more expensive at $160 a month. Both companies’ rates work out to about $13 a month.