Average Homeowners Insurance Cost in Covington, KY

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The average cost of homeowners insurance in Covington is $2,401 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 almost same as the national average of $2,417.

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

To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide to know how much homeowners insurance cost per month in Covington, home insurance cost for different dwelling coverage, also know which companies offer cheap home insurance in Covington.

In this guide, we will explain everything from what coverage options are available to which companies have the cheapest rates for homeowners insurance in Covington.

Average homeowners insurance cost in Covington per month

Covington homeowners pay an average of $200 a month, based on our rate analysis. It’s $63 less than the state average of $263 and almost same as the national average for home insurance across the United States. The price of your homeowners insurance policy in Covington may vary depending on where you live, the value of your home, and the coverage you choose.

How much is homeowners insurance for a $200,000 house in Covington

The average cost of homeowners insurance in Covington, KY is $1,808 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.

Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.

How much is homeowners insurance for a $300,000 house in Covington

According to a rate analysis by Insure.com, homeowners in Covington pay an average of $2,401 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 $593 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.

How much is homeowners insurance in Covington by Company

Among the carriers analyzed, Auto-Owners is the cheapest homeowners insurance company in Covington. Its average annual rate for Covington homeowners is $1,582. Cincinnati Insurance ranks second and Progressive makes it to the third spot with an average annual home insurance rate of $1,648.

Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Covington and prepared a list of the top ten cheapest home insurance providers. You can find below the Covington home insurance companies and their average annual premium.

Home Insurance Company	Annual rate
Auto-Owners	$1,582
Cincinnati Insurance	$1,643
Progressive	$1,648
Westfield Insurance	$1,885
Automobile Club MI (AAA)	$1,929
Grange Mutual	$2,154
State Farm	$2,229
Nationwide	$2,665
State Auto	$3,087
Kentucky Farm Bureau	$5,189

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for home insurance rates in Birmingham, Alabama, for $300,000 dwelling coverage and $100,000 liability coverage with a $1000 deductible for around 35,000 ZIP codes. The data presented are those with a good credit tier alignment.