The Best Cheap Renters Insurance in Kentucky for 2024
State Farm has the best cheap renters insurance in KY, at an average of $15 per month for $30,000 of personal property coverage.
Compare Cheap Renters Insurance in Kentucky
Best Cheap Renters Insurance in KY
ValuePenguin editors compared top renters insurance companies in Kentucky by looking at rates, coverage options, stand-out features and customer satisfaction ratings.
Our experts gathered over 100 renters insurance quotes from the 24 largest cities in Kentucky.
Most affordable renters insurance in KY
State Farm sells the most affordable renters insurance in Kentucky, at an average of $15 per month for $30,000 of personal property coverage.
That's 39% cheaper than the Kentucky state average. State Farm also has one of the most generous renters-auto bundling discounts among major insurance companies. That means you can save even more if you already have a State Farm auto policy.
Compare Cheap Renters Insurance in Kentucky
Kentucky has slightly above-average rates for renters insurance. Renters insurance costs $25 per month, on average, for $30,000 of personal property coverage. That's similar to what you'd pay for coverage in nearby Tennessee and Indiana and slightly cheaper than the average rates in Ohio and Missouri.
Top renters insurance companies in Kentucky
Company | Monthly cost | ||
|---|---|---|---|
| State Farm | $15 | |
| Allstate | $17 | |
| Assurant | $27 | |
| Progressive | $28 | |
| Amica | $33 | |
Best renters insurance in Kentucky for most people: State Farm
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Editor's rating
- Cost: $15/mo
State Farm has the best cheap renters insurance in Kentucky.
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Cheap rates
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Good customer service
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Many coverage extras
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Generous renters-auto bundle
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Few discounts
State Farm has the cheapest renters insurance quotes in Kentucky.
State Farm renters insurance has an average cost of $15 per month in Kentucky for $30,000 of That's $117 per year less than the Kentucky state average.
You can lower your monthly rate even more by bundling your renters and auto insurance. State Farm also offers a discount if you have a fire or burglar alarm installed in your home.
State Farm has a good reputation for customer satisfaction. The company scored above average on the most recent J.D. Power customer satisfaction survey for renters insurance customers. State Farm also gets a roughly average number of complaints for a company its size.
You can personalize your State Farm coverage with add-ons like identity theft protection, higher coverage limits for expensive items and coverage for damage caused by backed-up pipes or drains. State Farm also sells flood insurance for renters and umbrella policies, which offer greater liability protection, although you'll have to buy these as separate policies.
Best renters insurance in Kentucky for people age 55 and up: Allstate
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Editor's rating
- Cost: $17/mo
Allstate has the best renters insurance for Kentucky residents age 55 and up.
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Affordable renters quotes
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Discounts for seniors
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Extra coverage options available
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Poor customer service
Allstate offers discounts of up to 25% for renters age 55 and up. The average Allstate renters policy costs about $13 per month after applying this discount.
Even if you don't qualify for Allstate's 55 and up discount, you may benefit from the company's low rates. Allstate charges an average of $17 per month for $30,000 of personal property coverage. That's 34% below the Kentucky state average.
Allstate also has a good renters-auto bundling discount. Consider Allstate for your renters coverage if you already have an auto policy with the company.
Unfortunately, the company has a poor reputation for customer satisfaction. Allstate gets slightly more complaints than an average company its size. In addition, it scored slightly below average on the most recent J.D. Power customer satisfaction survey for renters insurance companies.
Best renters insurance in Kentucky for military families: USAA
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Editor's rating
- Cost: N/A
USAA has unique coverage benefits for military members and a good reputation for customer satisfaction.
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Strong customer service
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Special benefits for service members
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Limited availability
USAA has good customer service and unique benefits for military members. But, you can only buy a USAA membership if you are or an immediate family member is a current or former member of a branch of the armed forces.
The company gets less than half as many complaints as an average insurance company its size. USAA also had the highest score for customer satisfaction among top renters insurance companies, according to a recent J.D. Power survey.
USAA tailors its coverage and benefits specifically for those in the military. For example, you may qualify for a discount if you live on base or you're enrolled in a service academy.
You don't need to meet your deductible before filing a claim for certain military equipment like your uniform and body armor and for stuff you own that's destroyed or lost due to war.
Kentucky renters insurance: Costs by city
Madisonville, a small city in Western Kentucky, has the highest average rates in the state, at $29 per month for $30,000 of personal property coverage.
Burlington, a well-off Cincinnati suburb, has the most affordable average rates among Kentucky cities.
Western Kentucky gets more tornadoes than other parts of the state. That may explain in part why rates in Madisonville are so high. Renters insurance typically covers damage to personal property caused by tornadoes and windstorms.
Crime rates and the cost to repair or replace property can also influence the cost of renters insurance.
City | Monthly rate | % from average |
|---|---|---|
| Ashland | $28 | 11% |
| Bowling Green | $24 | -5% |
| Burlington | $19 | -23% |
| Covington | $26 | 5% |
| Elizabethtown | $24 | -5% |
Tips for saving money on renters insurance in Kentucky
Figure out the right amount of coverage for your needs, shop around for quotes and take advantage of any discounts to help you save even more on your Kentucky renters insurance policy.
Get the right coverage level
The amount you pay for renters insurance depends on the level of coverage you get. Add up the cost of everything you own to find the coverage level you need.
Your renters policy will never pay more than the cost to replace what you own. If $17,000 worth of your stuff has gotten damaged or destroyed, your policy won't pay out more than $17,000 even if you have a $30,000 coverage limit.
Many policies pay for the cost of what you own minus wear and tear, called actual cash value. For example, if you need to replace a $500 couch that's a few years old, your plan might only pay $300. However, your renters insurance company might also offer the option of replacement cost coverage. If you added that to your policy, your insurance would pay the full $500 or the current market value for the same couch or a similar one.
Compare quotes
You could save hundreds of dollars per year by comparing quotes. Switching from the most expensive company in Kentucky, Amica, to the cheapest, State Farm, could save you $214 per year.
It's also a good idea to shop around when it's time to renew your policy each year. The best company for renters insurance in Kentucky this year may not be the same one next year.
Use discounts to get the lowest rate
Many renters insurance companies in Kentucky let you save on your monthly rate with discounts. Make sure to take advantage of one or more if you qualify.
Common renters insurance discounts in Kentucky
- Renters-auto bundling
- Pay up front for six to 12 months of coverage
- Install a burglar or smoke alarm in your home
- Go several years without filing a claim
- Sign up for autopay
Common natural disasters in Kentucky
Kentucky renters may need coverage for tornadoes and floods.
Renters insurance pays to replace the items you own. It does not protect the building you live in. That's the landlord's responsibility. So if a window breaks during a storm, your landlord's insurance will pay to fix the window, not your renters insurance. But if rain enters your apartment through that broken window and damages your furniture, then your renters insurance should cover that cost.
Tornado coverage for Kentucky renters
Renters insurance typically covers damage caused by tornadoes.
Renters insurance covers the items you own that are damaged or destroyed by tornadoes. In addition, some policies will pay for you to stay in a hotel or other short-term rental if your rented home or apartment is uninhabitable. This is called loss of use coverage.
Kentucky has had 61 tornadoes so far in 2024. That's up from 43 in 2023. The number of tornadoes in Kentucky has increased in recent years because Tornado Alley is slowly shifting east.
Flood insurance in Kentucky
Renters insurance doesn't cover flood damage.
If you live in an area that frequently floods or is at high risk of flooding, and you have a ground floor or basement apartment, you may need separate flood coverage for renters. Fortunately, flood insurance for renters is typically inexpensive. You may also qualify for a bundling discount if you buy your flood and renters policy through the same company.
You can use FEMA's online map tool to find your area's risk level.
Flooding is the most common natural disaster in Kentucky.
Between 2000 and 2022, Kentucky issued more flood-related disaster declarations than any other state in the U.S.
Frequently asked questions
Who has the best cheap renters insurance in Kentucky?
State Farm has the best cheap renters insurance in Kentucky, at an average of $15 per month for $30,000 of personal property coverage. The company scored above average on a recent J.D. Power survey that looked at customer satisfaction among major renters insurance companies.
What's the cheapest renters insurance in Louisville, KY?
State Farm has the cheapest renters insurance in Louisville, KY, at $16 per month for $30,000 of personal property coverage on average.
How much is renters insurance in KY on average?
Renters insurance in Kentucky costs an average of $25 per month for $30,000 of personal property coverage. The amount you pay for coverage depends on where you live, the amount of coverage you need and the company you choose.
Methodology
ValuePenguin gathered over 100 quotes from Kentucky's 24 largest cities for a single 30-year-old woman with no claim history. Coverage limits include:
- $30,000 of personal property coverage
- $9,000 for loss of use
- $500 deductible
- $100,000 of personal liability
- $1,000 of medical payments to guests
Customer service ratings were created using renters insurance quotes, complaint data from the National Association of Insurance Commissioners (NAIC) and J.D. Power's 2023 renters insurance customer satisfaction survey.
These rates are only for comparative purposes. Your quotes will differ.
Natural disaster-related information was taken from the Kentucky Energy and Environment Cabinet.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.