The Best Cheap Renters Insurance in Kentucky
State Farm has the cheapest renters insurance in Kentucky, with an average rate of $15 per month.
That's $5 per month cheaper than the overall state average, saving customers $60 per year.
Compare Cheap Renters Insurance in Kentucky
Finding the best renters insurance for your unique needs involves identifying which provider combines affordability with practical coverage offerings and attentive, dependable customer service. To help you with your search, we analyzed 135 quotes from across Kentucky.
Methodology
The cheapest renters insurance companies in Kentucky.
The cheapest renters insurance in Kentucky comes from State Farm, with an average rate of $185 per year.
Travelers is the second-cheapest renters insurance company in Kentucky, with an average rate of $196 per year. The average cost of renters insurance in Kentucky is $20 per month, or $237 per year.
Compare Cheap Renters Insurance in Kentucky
Renters in Kentucky typically pay more for coverage than the national average of $215 per year. Kentucky rates are 10% higher and rank as the 12th-most expensive.
Cheapest renters insurance companies in Kentucky
Company | Monthly cost | |
|---|---|---|
| State Farm | $15 |
| Travelers | $16 |
| Allstate | $19 |
| Farmers | $19 |
| Nationwide | $23 |
| Amica | $26 |
Best renters insurance for most people: State Farm
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Editor rating
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Average monthly rate
$15 ?
Pros and cons
The best renters insurance for most people in Kentucky comes from State Farm. Protection from State Farm is the cheapest in the state. On average, it's the only provider that charges less than $190 per year for coverage. Renters insurance from State Farm costs about $15 per month, or $185 per year — 22% cheaper than average.
While State Farm doesn't offer many ways to upgrade a basic policy, the company's renters insurance has enough coverage for most people. State Farm offers property and liability coverage that aligns with what's typically offered across the industry, as well as extra coverage for special items and extended liability, which can protect you if you are the target of a lawsuit.
If customer service quality is an important aspect of a provider, consider State Farm. The insurer's service results in fewer complaints than average, according to data from the National Association of Insurance Commissioners (NAIC). However, State Farm's service was rated as only middle-of-the-pack by J.D. Power.
Best renters insurance for coverage options: Travelers
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Editor rating
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Average monthly rate
$16 ?
Pros and cons
Travelers is the best option for renters in Kentucky who want to customize their policies by adding different forms of protection to a standard plan. Compared to the other companies we reviewed, Travelers offers many more options for extra coverage, also called endorsements.
Travelers is also an affordable option — only slightly more expensive than State Farm. It's still 7% cheaper than the average cost of renters insurance in KY. Travelers renters insurance costs $196 per year, for a monthly expense of $16.
Besides the property and liability protections provided in a standard Travelers renters insurance policy, you could add the following endorsements:
- Water backup protection: Adds damage caused by backed-up drains or sump pumps to your policy's list of covered perils.
- Replacement cost coverage: Rather than facing a deduction in your claim settlement for your property's depreciation, this endorsement ensures you're reimbursed for the full value.
- Mechanical breakdown protection: Extends extra protection to your appliances in case of breakdown for electrical or mechanical reasons.
- Identity theft coverage: Monitors your personal information for breaches and resolves your case if your identity is stolen.
- Decreasing deductible: Your renters insurance deductible diminishes each year you don't make a claim.
However the insurer requires you to pay your entire annual premium at once and has subpar customer service.
Best for customer service: Amica
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Editor rating
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Average monthly rate
$26 ?
Pros and cons
Customers looking for good customer service should consider Amica for renters insurance in Kentucky. The company has an extremely low rate of customer complaints, according to the NAIC, which indicates customers are satisfied with their coverage.
Service is a factor that won't come up most of the time, but it becomes extremely important when you have to make a claim. Something happening to the home you rent is going to cause a lot of stress, and you don't need to add to it with slow and subpar communication from your insurer.
You will, however, have to spend a little more for better service. The average Amica rate in Kentucky is $309 per year, the highest in the state. That is 67% higher than the cheapest option.
Kentucky renters insurance rates: City-by-city
The cheapest place for renters insurance among Kentucky's largest cities is Burlington, where the average quote is $225 per year.
The state's most expensive rates are in Madisonville, a small city in the western half of the state. Louisville, Kentucky's largest city, has an average rate that is close to the most expensive in the state, at $252 per year.
City | Average annual cost | Difference from state average (%) |
|---|---|---|
| Ashland | $247 | 2% |
| Bowling Green | $250 | 3% |
| Covington | $232 | -5% |
| Elizabethtown | $245 | 1% |
| Frankfort | $243 | 0% |
Best insurance companies in Kentucky for customer service
USAA and Amica have the top-rated customer service in Kentucky, based on a weighted analysis of complaint data and customer feedback.
Both companies have a low rate of complaints according to the NAIC. Each also has a good editor's rating from ValuePenguin. USAA is the top-rated company in J.D. Power's renters insurance customer satisfaction study, but its policies are only available to members of the military and certain military family members.
Company |
Rating
|
|---|---|
| USAA | |
| Amica | |
| State Farm | |
| Nationwide | |
| Allstate | |
| Travelers | |
| Farmers |
Frequently asked questions
How much does renters insurance cost in KY?
Renters insurance in Kentucky costs $20 per month, on average. Renters shopping for cheap insurance should consider State Farm and Travelers — both companies offer coverage for $12 per month.
What does renters insurance cover in KY?
Renters insurance should always cover personal liability, property damage, medical payments to others and loss of use coverage. Most major insurance companies give renters an opportunity to increase their protection with extra coverage options, like flood insurance or valuable property protection.
How much is renters insurance in Louisville, KY?
Renters in Louisville can expect to pay $21 per month for insurance coverage, which is 4% higher than the state average. In comparison, people living in Kentucky's second-largest city, Lexington, pay $19 for renters insurance.
Methodology
To find the best renters insurance in KY, ValuePenguin gathered quotes from six companies across the 24 largest cities and census-designated areas in the state. The sample renter is a 30-year-old unmarried man with no history of making insurance claims. His coverage includes $30,000 of personal property coverage, $100,000 of personal liability and $1,000 of medical payments to others.
Customer satisfaction star ratings combine J.D. Power's annual survey of renters insurance customer satisfaction, complaint data from the NAIC and ValuePenguin editor's ratings.