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Laura Berry

Former Insurance Agent

Former Insurance Agent

Joshua Adamson

Joshua is a copywriter at Obrella who for more than 10 years has been creating content about insurance, health care, and more. He helps companies explain complex insurance subjects in simple ways so that customers can make smart buying decisions. He spends way too much time binge-watching Netflix, loves the outdoors and has a cat who tolerates him.

UPDATED: Dec 11, 2023

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When something bad happens, like a fire from a neighbor’s apartment causes smoke damage in your home, having your home burglarized, or if a friend or family member gets hurt at your apartment, having renters insurance will often help out with these expenses. Our guide for Kentucky renters breaks down the facts about renters insurance policies.

What is the average cost of renters insurance in Kentucky?

Take a look around your apartment and consider how much it would cost to replace everything you own. Then consider this: the average rental insurance premium in Kentucky is just $171. That’s 9% less than the national average. Considering that the average loss per burglary in the U.S. is about $2,200 and you’d only have to work 24 hours at minimum wage to pay for a year’s worth of coverage, it’s easy to see how renters insurance is the smart and affordable choice.

What does Kentucky rental insurance cover?

In 2012, more than two million burglaries were reported in the U.S.. Out of those, 29,587 occurred in Kentucky. Being a victim of a burglary is nerve-racking, but renters insurance can help cover the cost of replacing your belongings if it happens to you. Rental insurance is also a lifesaver when it comes to helping pay for personal property and belongings if they are damaged by a fire, natural disasters, or other covered events. It even can cover medical payments if someone is hurt while at your apartment. You might want to consider purchasing more coverage than the basic liability protection. Additional coverage, like flood insurance, which protects against water damage, can help protect your property as well.

Are there discounts that can help you save?

We all want the most affordable renters insurance offered. Luckily, there are a couple factors that influence the cost of your premium, such as: where your home is located, value of belongings, and history of claims. Even though renters insurance won’t cost you more than a couple hundred dollars per year, you might be able to lower your premiums even more thanks to Kentucky renters insurance discounts.

  • Multi-Policy: Save when you combine policies like auto, home, and renters.
  • No Prior Claims: You won’t pay extra if you haven’t ever filed a claim.
  • Safety Devices: Installing safety systems like smoke alarms and security systems can result in premium discounts.
  • Higher Deductibles: If you opt into a plan with a higher deductible, you’ll have a lower payment amount every month. Watch out for this though. Your deductible is something you’re responsible for paying if you file a claim.

What should you know about Kentucky renters insurance?

Of all Kentucky residents, 32% or three out of 10 people rent their homes. On average, these rentals cost about $683 a month for a two-bedroom rental. Considering a year’s worth of renters insurance averages $171, the small premium is worth the protection and peace of mind it offers.

How can you find a Kentucky renters insurance policy that works for you?

Before making any final decisions on your renters insurance company, it is important to learn as much as you can about your local insurance providers, and the coverages they offer. Call your local insurance agent to clear up any questions that you might have. Questions to consider asking include, “What is the best coverage plan for me/my family/my situation?” “What are the minimum coverage requirements in my state and what form of coverage do you recommend?” “Do you guys offer any bundle discounts if I take out both my auto insurance and home insurance with you?” and “What is the average rate of insurance quotes you guys offer?

Before making any big insurance decisions, use our free tool to compare insurance quotes near you. It’s simple, just plug in your zip code and we’ll do the rest!

Call [mapi-phone /] and find out more about affordable rental insurance policies available in Kentucky.

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