Home Insurance in Louisville, KY

How to find affordable homeowners insurance in Louisville

Homeowners insurance is a critical element of homeownership. Fire, vandalism, theft, and wind damage are just a handful of the perils from which homeowners insurance can protect your dwelling and personal property. Incidents like this occur regularly. When paired with the high cost of repairing or rebuilding a home, purchasing an expansive homeowners policy can seem like a great idea. The average homeowners policy costs $145 per month in Louisville, Kentucky. This is higher than what most Americans pay for home insurance.

What you pay for homeowners insurance factors in variables such as the cost of building materials, the value of your personal belongings, and the overall value of the primary dwelling. The location of your home also contributes to the price of your homeowners insurance policy. In areas prone to perils like frozen pipes, hail, windstorms, or wildfires, home insurance rates may be higher to account for the extra risk. Find out more about what your homeowners insurance policy covers.

If you want to find cheaper home insurance coverage in Louisville, start with shopping around and comparing policies. Have a look at the summary below comparing average Louisville homeowners insurance rates to ensure you start your search with as much background info as possible. One thing to note is that the yearly cost of homeowners coverage is determined based on your chosen coverage limits as well as a number of other rating factors.

Table of contents:

1. Rates by insurer
2. Rates by coverage amount
3. Rates by ZIP code
4. Rates by deductible amount
5. Policy bundling savings

 

Louisville home insurance by company

What you pay for homeowners insurance in Louisville will depend on the insurance company you get your policy through. The most affordable home insurance in Louisville is Nationwide offering average annual rates at just $1,388 per year. This is considerably cheaper than the city’s average homeowners premium of $1,751.

Take a look at the cheapest insurance companies in Louisville, Kentucky. Then, see our guide discussing the best home insurance companies ranked by customer satisfaction, third-party ratings, and other factors to find the right homeowners policy for you.

AFFORDABLE HOME INSURERS IN LOUISVILLE

Company	Average Annual Rate
Nationwide	$1,388
Allstate	$1,404
AAA	$1,558
Liberty	$1,591
USAA	$1,777

 

Louisville homeowners insurance prices by coverage level

How much you pay for home insurance coverage is greatly affected by the level of coverage you choose. In Louisville, carrying $200K dwelling coverage costs an average of $1,291, while carrying additional coverage up to $400K costs $2,173 per year.

POPULAR COVERAGE LIMITS IN LOUISVILLE

Coverage Level	Average Annual Rate
$100,000 Dwelling	$784
$200,000 Dwelling	$1,291
$250,000 Dwelling	$1,446
$400,000 Dwelling	$2,173

 

Louisville home insurance rates by ZIP code

Depending on which part of Louisville you live in, you could see a big difference in your home insurance costs. The amount of claims filed in your local area can be a factor in determining the price of your policy. Put simply, the location of your home could have a huge impact in what you pay for home insurance.

If you're looking for the cheapest homeowners coverage in Louisville, take at look at the 40218 ZIP code. In the 40218 area, homeowners policies typically cost just $1,707 per year, which isa full $44 less than the Louisville average. Find the best places to live in Louisville for cheap home insurance by looking at the following table.

AFFORDABLE HOME INSURANCE AREAS IN LOUISVILLE

ZIP Code	Average Annual Home Insurance Rate
40218	$1,707
40220	$1,709
40272	$1,713

On the other hand, some areas of Louisville face higher homeowners insurance costs, on average. Crime rates, fire risk, and even your how close you are to emergency services such as fire and police stations could impact rates the risk level of certain parts of the city, which could drive up area rates. The most expensive ZIP code for homeowners insurance in Louisville is 40209, where the average annual rate is $1,823.

EXPENSIVE HOME INSURANCE AREAS IN LOUISVILLE

ZIP Code	Average Annual Home Insurance Rate
40209	$1,823
40208	$1,806
40204	$1,798

 

Louisville homeowners insurance deductibles

Among the numerous options homeowners face when buying an insurance policy is how high to set the deductible. The deductible is the dollar amount that the insured must contribute toward a covered loss. The deductible that you decide on can change how much you pay in insurance premiums.

When thinking about your deductible, a good rule of thumb is that the lower your deductible, the higher your premiums. Therefore, if you need your home insurance rates to be lower, you'll need to keep your deductible higher. Remember that your deductible should not be so high that you would struggle to pay it in the event of a loss.

Below are some commonplace deductibles offered on most home policies along with corresponding average insurance premiums.

HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN LOUISVILLE

Deductible Level	Average Annual Homeowners Insurance Rate
$500	$1,548
$1,000	$1,446
$1,500	$1,379
$2,000	$1,292
$5,000	$1,098

 

Home and auto insurance bundling in Louisville

If you’re seeking savings on your overall insurance costs, consider purchasing your home and auto policies from the same insurance company. Bundling homeowners and auto insurance can save you a substantial sum each month on your auto insurance bill. Bundling policies in Louisville could, in fact, lead to average annual savings of 11%.

CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN LOUISVILLE

Company	Avg. Annual Auto Insurance Rate (With Bundle)
Kentucky Farm Bureau	$1,159
State Farm	$1,634
GEICO	$1,736
Liberty Mutual	$1,758
Progressive	$2,248