Home Insurance in Lexington

When you have home insurance in Lexington, you can rest knowing that your property has protection from the unexpected.
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Learn About Lexington Homes

With a population of more than 322,000 residents, Lexington ranks as Kentucky's second-largest city. It's best known for its incredible horse-racing legacy and as the home of the University of Kentucky. Lexington offers access to both the amenities of a big city and the rolling farmlands that surround the area. Although it has a growing population, Lexington is still relatively affordable, particularly when compared to other large Southeastern cities.

Living in the Lexington Area

The median home price in Lexington is just over $260,000 according to Sperling's Best Places - a 23% decrease over the national average of $338,000. At the same time, prices in the city are rising rapidly, so it's a smart time to invest in Lexington real estate. You'll see projected property appreciation of nearly 12% per year. Strong home insurance in Lexington can help you protect the full value of your most cherished assets.

Concerns for Homeowners in Lexington

Your homeowner's policy pays for damage from covered events such as fire, vandalism and severe weather. Those who live on the outskirts of Lexington near forested areas may face an increased risk of wildfire damage. In addition, the city's Division of Emergency Management estimates that Fayette County has an 88% higher tornado risk than the national average. The metro area has a major tornado approximately every 13 years.

A rocky substance called karst makes up much of the Kentucky landscape, which puts Lexington homeowners at risk for sinkhole damage. You may want to assess the risk of sinkholes on the property so you can purchase the necessary insurance coverage. Standard home insurance in Lexington does not tend to cover sinkhole-related loss.

Property crime may pose a concern for some Lexington residents. The city sees about 3 of these incidents a year for every 100 people, compared to a U.S. rate of 2.1 and a Kentucky rate of 1.9. You may see your premiums rise if you live in an area with frequent vandalism or theft.

Average Lexington Home Insurance Premiums

According to NerdWallet, the average cost of home insurance in Lexington is about $153 a month or $1,830 a year. You're right in line with the national average premium of $1,820 a year, and you'll save about 23% compared to Kentucky's average..

Some of the factors that affect home insurance rates include the size and location of your property, your credit score and the crime rate in your area. Many insurance providers vary their premiums from one neighborhood to the next based on available data. As a result, you can save on your home insurance by comparing quotes from multiple providers with VIU by HUB.

Home Insurance Laws in Kentucky

Kentucky does not require its homeowners to have property insurance. However, your mortgage company may mandate minimum coverage if you have a loan. Generally, homeowner's insurance covers the home itself as well as your personal property up to a designated limit. Your policy takes effect if a covered event occurs. You file a claim with your insurance company to pay or reimburse you for the necessary repairs.

Your home insurance in Lexington also includes liability insurance. This type of policy pays for your legal costs and the other person's medical expenses if someone gets hurt on your property.

Find the best home insurance in Lexington for your personalized situation with VIU by HUB. Our online tool lets you compare quotes from multiple providers quickly.

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


Lexington Division of Emergency Management


Sperling's Best Places

U.S. News and World Report

Home insurance in Kentucky by city

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