Average homeowners insurance cost in Covington, Kentucky

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The average cost of homeowners insurance in Covington is $2,534 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $48 less than the national average of $2,582 .

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Covington depend on a number of factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

Progressive is the cheapest homeowners insurance company in Covington with an average annual premium of $1,751 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Covington. Keep reading to learn about the monthly cost of homeowners insurance in Covington, the cost for different dwelling coverage levels, and which companies provide the most affordable home insurance in Covington.

Key Takeaways

The cost of your homeowners insurance policy in Covington can vary based on factors such as your location, the value of your home, and the coverage options you select.
Progressive is the cheapest homeowners insurance company in Covington with an average annual premium of $1,751 .
If you increase your dwelling coverage from $200,000 to $300,000, you will pay $635 more annually for home insurance.

Average homeowners insurance cost per month

Residents of Covington pay an average of $211 per month for homeowners insurance. This is $65 less than the state average of $276 and $4 less than the national average for home insurance across the United States. The cost of your homeowners insurance policy in Covington can vary depending on your location, property value, and selected coverage options.

Average homeowners insurance cost for a $200,000 house in Covington

The average cost of homeowners insurance in Covington, KY is $1,899 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The cost of your home insurance each year depends on several factors – including the risk of natural disasters in your area. If your city is prone to events like hurricanes, wildfires, or floods, you’ll likely pay more for coverage.

Some places are more prone to natural disasters, like floods, hurricanes, or tornadoes. That makes rebuilding after a major event more expensive, which is why home insurance tends to cost more in those areas. And keep in mind, your standard policy probably doesn’t cover flood or hurricane damage. If you live in a high-risk zone, it’s definitely worth looking into separate flood insurance for extra protection.

Average homeowners insurance cost for a $300,000 house in Covington

According to a rate analysis by Insure.com, homeowners in Covington pay an average of $2,534 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you’ll have to pay $635 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in Covington by company

After comparing several homeowners insurance companies, Progressive offers the lowest rates in Covington. Its average annual rate for homeowners in Covington is $1,751 , while Automobile Club MI (AAA) is the second-cheapest.

Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in Covington and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in Covington and their average annual premiums.

Home Insurance Company	Annual rate
Progressive	$1,751
Automobile Club MI (AAA)	$1,889
State Farm	$1,930
Auto-Owners	$1,967
Cincinnati Insurance	$2,041
Westfield Insurance	$2,268
Nationwide	$2,640
Kentucky Farm Bureau	$5,970
Grange Mutual	$2,351

Bundling your home insurance with other policies, like auto insurance, can lead to significant savings. Insurance companies often offer discounts for customers who combine multiple policies. By bundling, you can reduce your premiums and manage your insurance needs with one company.

Natural disasters in Kentucky that can impact your home insurance

Living in Kentucky means facing the risk of natural disasters that can seriously damage your home and belongings. These events can lead to expensive repairs and major insurance claims. That’s why it’s so important to understand which disasters are most likely in your area before choosing a home insurance policy.

Being aware of your local risks helps you choose the right level of protection, from setting appropriate coverage limits to deciding on deductibles or adding extra coverage. Taking the time to tailor your policy to those risks can help you avoid being underinsured and give you peace of mind if you’re impacted by a natural disaster.

Kentucky is commonly affected by Ice storm, Landslide, Strong wind, Tornado and Winter weather.

How home insurance protects you against natural disasters

Home insurance is an essential safeguard for your financial well-being, offering protection if you’re affected by a natural disaster. Natural disasters can lead to costly damage, but the right policy can help cover the cost of repairs, sparing you from major out-of-pocket costs. In many cases, home insurance also pays for temporary living expenses if you can’t live in your home.

However, not all natural disasters are covered under a standard home insurance policy. For example, flood and earthquake damage are excluded and require separate coverage. That’s why it’s so important to understand the specific natural disaster risks in your area. By doing so, you can choose a policy that truly protects your home – and your finances – from the threats that are most likely to affect you.

Make sure your coverage is disaster-ready

The best time to review your homeowners insurance is before a storm hits. If you’ve made upgrades to your home or live in a disaster-prone area, you may need more coverage than you think. A quick policy check now can prevent big financial losses later.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Covington for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.