Florence, KY, Home Insurance

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Florence, KY, Home Insurance Statistics

Your Florence, KY, home insurance premiums come from a complex, multi-factor analysis of each individual property. Of course, large-scale factors also play a role in determining prices. For example, as a city of 32,618 people and part of the larger Cincinnati metropolitan area, Florence has many of the risk factors ” and risk mitigators ” you would associate with any significant population center.

One example of a city-specific risk to homes is crime. While it's true that Florence has roughly double the property crime risk of Kentucky as a whole, that might not increase your insurance premiums as much as you think. Burglary, the main potential covered loss in a home policy, is relatively uncommon: 1.77 crimes per 1,000 people. For reference, the U.S. rate is 2.71 per 1,000.

Home Values in Florence 

When you think about your home insurance price, it's helpful to think about the risk your policy represents to the insurer. For example, your home would present a greater risk if it were more expensive to repair. To extend that idea, more expensive homes typically cost more to repair. Florence has a median home value of $251,150, with only about 10% of all homes valuing less than $143,000. Those numbers point to a city that's near the top of the Kentucky real estate market in terms of price. There's a lot of competition among insurers for these types of areas, and that can get confusing ” especially when you're just trying to estimate your annual homeownership costs. The solution: Get a birds-eye view of rates from different companies with VIU by HUB.

Home Insurance Policy Details

Florence, KY, home insurance costs an average of $1,755 annually. Your quote price would depend on the fact that your home is in Florence, of course. Premiums in this city tend to cost less than the average in the state. Some things that factor into that could include:

  • Proximity, response times and effectiveness of emergency services, especially fire departments
  • Crime rates, particularly for home-damaging offenses such as vandalism and burglary
  • Frequency with which Florence residents file home insurance claims

You will factor into the equation, too. The insurer would consider the following when writing your policy:

  • How many home insurance claims you've made
  • Your age
  • Your creditworthiness and general financial resilience

Remember that rates depend on how much risk you pose to the insurer, statistically speaking. For example, if you're an older person with good credit who has not filed any home insurance claims, you're likely to get a lower rate than most. 

Regardless of how much you pay, home insurance typically protects you against a range of covered losses. Essentially, that means that the insurer agrees to pay if you suffer a loss from, for example:

  • House fires
  • Burglary or vandalism
  • Someone suing you after getting injured in your home
  • Damage to your home after a storm

Some policies might not cover everything you expect, and coverage levels vary significantly between insurers. Use VIU by HUB to get the best price ” but also to ensure that you're getting what you pay for.

Low Prices and Great Coverage

Finding the right Florence, KY, home insurance doesn't have to be a hassle. VIU by HUB can simplify the process. Our tool shows you quotes from many reputable insurers. Side-by-side comparison lets you make smart decisions on types of coverage, prices and any other factor you think is important. The result is a custom-tailored policy that fits your budget.

This information is intended for general informational purposes only and is not intended to constitute legal advice.


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City of Florence, KY

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