Average homeowners insurance cost in Covington, KY

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In Covington, homeowners pay an average annual rate of $2,534 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $48 less than the national average of $2,582.

Homeowners insurance premiums can vary significantly from one property to another. In Covington, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage required
Location
Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read this guide to discover the monthly homeowners insurance cost in Covington, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Covington.

Key takeaways

In Covington, homeowners insurance costs $2,534 annually.
Progressive offers the most affordable homeowners insurance in Covington with an average annual premium of $1,751.
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $635 higher.

Average homeowners insurance cost in Covington per month

Residents of Covington pay an average of $211 a month for homeowners insurance, as per Insure.com’s rate analysis. It’s $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 may change based on location, property value, and selected coverage options.

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

Homeowners insurance for dwelling coverage of $200,000 and liability protection of $100,000 costs $1,899 per year in Covington, KY. Numerous factors influence your annual home insurance rates, including any natural disaster or event in your locality. For instance, certain regions have a higher risk of natural calamities such as floods, hurricanes, or tornadoes, implying higher expenses for rebuilding in these areas. These increased rebuilding expenses result in increased insurance premiums.

It is important to note that your insurance plan may not cover flood or hurricane damages. So, if you reside in an area prone to flooding, consider buying flood insurance coverage.

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 will just 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, the features in your home, and the cost of living in your area.

Average homeowners insurance cost in Covington by company

Among the carriers analyzed, Progressive is the most affordable homeowners insurance company in Covington. It’s average annual rate for homeowners in Covington is $1,751.

Automobile Club MI (AAA), ranks second and State Farm makes it to the third spot with an average annual home insurance rate of $1,930.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Covington and compiled a list of the most affordable home insurance companies.

Below are details of Covington home insurance companies 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

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.