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How much is renters insurance in KY?
I live in Kentucky and am looking to rent my first apartment. I have a specific budget, but all the apartments I’ve seen require renters insurance. What does renters insurance cost in KY?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Renting your first apartment is exciting and it’s great you’re sticking to a budget! Renters insurance in KY can cost anywhere from $120 to $250 a year, depending on several factors.
- Location
- Credit history
- Age
- Claims history
- Insurance company
Since insurance is risk-based, you’ll pay more for insurance if you live in an area where claims are common. Additionally, if you haven’t submitted a renters insurance claim before, you’ll pay less than someone who has. The insurance company you choose can also impact your rate as every company uses a different formula to set rates.
Finally, while this may seem like a lot of money when you’re on a strict budget, you can typically pay renters policies monthly. Based on the average cost, that would only be $10 to $20 a month.
Since rates vary, you should shop around with multiple companies to determine what your rate will be. If you’d rather leave the hard work of gathering quotes to someone else, use insurance broker
Jerry
. The Jerry app collects quotes from top insurance companies like Nationwide and Travelers in seconds, saving you time and money. View full answer
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