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How to find cheap 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.

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.

 
Louisville, Kentucky, home insurance — table of contents:
  1. Rates by insurer
  2. Rates by coverage amount
  3. Rates by neighborhood
  4. Rates by deductible amount
  5. Bundling discounts
 

 

Homeowners insurance in Louisville by insurance 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 to find the right homeowners policy for you.

 
CHEAP HOMEOWNERS INSURANCE COMPANIES IN LOUISVILLE
CompanyAverage Annual Rate
Nationwide$1,388
Allstate$1,404
AAA$1,558
Liberty$1,591
USAA$1,777
 

 

Average homeowners insurance prices in Louisville 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.

 
HOMEOWNERS INSURANCE RATES IN LOUISVILLE — POPULAR COVERAGE LIMITS
Coverage LevelAverage 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 AREAS FOR HOMEOWNERS INSURANCE IN LOUISVILLE
ZIP CodeAverage 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 AREAS FOR HOMEOWNERS INSURANCE IN LOUISVILLE
ZIP CodeAverage Annual Home Insurance Rate
40209$1,823
40208$1,806
40204$1,798
 

 

Homeowners insurance deductibles in Louisville

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 RATES BY DEDUCTIBLE TIER IN LOUISVILLE
Deductible LevelAverage Annual Home Insurance Rate
$500$1,548
$1,000$1,446
$1,500$1,379
$2,000$1,292
$5,000$1,098
 

 

Money-saving tip for home and auto insurance in Louisville: bundling

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 AUTO INSURANCE PREMIUMS WITH HOME BUNDLE IN LOUISVILLE
CompanyAvg. Annual Auto Insurance Rate (With Bundle)
Kentucky Farm Bureau$1,159
State Farm$1,634
GEICO$1,736
Liberty$1,758
Progressive$2,248
 

A great way to save on insurance is to bundle your home and auto policies with the same insurance company.

 

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Kristine Lee
Kristine LeeManager, Content and Data

Kristine is a licensed insurance agent who joined The Zebra in 2019 as an in-house content researcher and writer.

She is an authority on all things insurance and covers the ins and outs of auto, home, life and renters insurance. Her specialty is in providing data-backed insights and information to help insurance shoppers make informed decisions.

Kristine's insurance expertise and research have been cited by publications such as CNBC, Car and Driver, Business Insider, Yahoo!, The Balance, Nationwide and Elephant.

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.

  • The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.

  • The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.

  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.