Kentucky Flood Insurance

Find the Best Flood Insurance Rates & Companies in Kentucky

Living near a body of water is a desirable situation for those looking to buy or even rent a home. In many cities, downtown revitalization is taking place near a river, and cities in Kentucky are no different. The two largest cities in the state, Louisville and Lexington, are situated near rivers, and many other KY communities are located near lakes, creeks, and streams. When rainfall pours, even tiny creeks can pose a threat to your home, and without Kentucky flood insurance, you could potentially suffer from devastating losses due to extensive water damage to your property.

The average cost of Kentucky flood insurance is $1,325 per year. A local independent insurance agent in Kentucky can help you find affordable flood insurance designed for your unique property. But first, here's an overview of Kentucky flood insurance requirements, costs, and more.

Key Takeaways - Kentucky Flood Insurance

• Flood insurance can cover your home's structure and your personal property (contents) from water damage caused by natural flooding, such as hurricanes. 
• The average annual flood insurance cost in Kentucky is $1,325, or approximately $110 per month.
• Many homeowners in Kentucky are required to have flood insurance, especially those living near bodies of water.
• Working with a local independent insurance agent is strongly recommended, as they can tailor a policy to your unique property and coverage needs.

Best Flood Insurance Companies in Kentucky

Residents of Kentucky can purchase flood insurance through the National Flood Insurance Program (NFIP), which is regulated and backed by the federal government but sold by traditional insurance companies, or through private flood insurance. 

The NFIP is a part of the Federal Emergency Management Agency (FEMA) and limits its flood insurance coverage to $250,000/$100,000 for buildings and personal property. Private flood insurance can allow you to purchase higher coverage limits and offer more perks and options than what's available from the NFIP, such as loss of use coverage or replacement cost coverage.

An independent insurance agent can help you get Kentucky flood insurance that works best for your unique property. 

How to buy flood insurance in Kentucky

You can buy flood insurance in Kentucky directly from the NFIP. You can also buy Kentucky flood insurance from a private insurance company, either in person or online. However, the best option might be to work together with a local independent insurance agent. These agents have access to multiple carriers, so they're free to shop and compare your options to find the cheapest flood insurance in Kentucky. 

Is Flood Insurance Required in Kentucky?

The short answer is sometimes. Though flood insurance is not required by Kentucky state law, it is often required or at least recommended if you live in a high-risk county. Flood insurance can be a requirement in a mortgage agreement, especially if you live in a flood zone. 

It's helpful to keep this in mind, especially since 11% of properties in Kentucky are in high-risk flood zones. Kentucky can be prone to storms that produce as much as four inches of rain hourly, so getting flood insurance may be a safer bet than not for residents of the state.

What Does Flood Insurance Cover in Kentucky?

The two main types of coverage offered through the FEMA-backed NFIP are buildings coverage and personal property  (contents) coverage. 

• Buildings coverage: This provides protection for your home's structure and built-in systems, such as electrical and plumbing systems, as well as built-in appliances like dishwashers, against damage or destruction caused by natural flooding events. The NFIP typically limits coverage to $250,000. 
• Personal property or contents coverage: This provides protection for your personal belongings, like furniture, silverware, electronics, and collectibles, against natural flood damage. It is typically limited to $100,000. 

The NFIP's flood coverage also typically applies to detached garages and includes up to $2,500 for expensive, valuable items. This coverage can also pay for debris removal from your property after a flood.

Private flood insurance typically includes all of this coverage with some extras. Loss of use coverage or additional living expenses coverage provides reimbursement if you get temporarily displaced from your home and must stay elsewhere after a covered flooding event. It can pay for hotel rooms, takeout meals, additional gas mileage, and more. 

Also, private flood insurance can include replacement cost coverage, which pays to replace an item for its original value, without factoring in depreciation. Coverage limits for private flood insurance are often available in much higher increments than with NFIP's coverage.

What's Not Covered by Flood Insurance in Kentucky?

Flood insurance won't cover any damage to your home caused by mold, mildew, or moisture that the homeowner could've prevented. Flood insurance also excludes coverage for certain types of personal property, like currency, precious metals, and valuable papers. The belongings you keep outside of your home, like hot tubs, as well as landscaping like trees and shrubs, are typically not covered, either. Finally, certain parts of your home, such as decks, are often excluded from your coverage, as are belongings stored in your basement.

How Much Does Flood Insurance Cost in Kentucky?

The average cost of flood insurance in Kentucky is $1,325 per year, or about $110 per month. This is more expensive than the current national average flood insurance cost of $899 per year, or about $75 per month. 

Several factors can influence the cost of your flood insurance beyond the insurer you choose. Kentucky's rates can be higher than the national average due to factors like the state's higher flood risk. Coverage costs can also be impacted by:

• The types and amounts of coverage you need
• The deductible amount you select
• The age and location of your home
• The building materials used in the home
• The home's specific flood zone designation
• The history of flooding in the area

Of course, the higher your area's flood risk, the more expensive your coverage will likely be. An independent insurance agent can help you find affordable flood insurance in Kentucky from a reputable carrier.

Kentucky Flood Zones

You can find Kentucky flood zone maps easily online. The best place to access Kentucky flood maps, including Lexington, Kentucky flood maps, is on FEMA's official website. FEMA provides many comprehensive and user-friendly tools to help you assess your Kentucky flood risk. You can access Kentucky flood zone map PDFs, Kentucky flood plain maps, and more.

How to Apply for Flood Insurance in Kentucky

Finding flood insurance in Kentucky is easy. You can either go through the National Flood Insurance Program (NFIP) or a private insurance company. You can apply for coverage in person or online. However, a local independent insurance agent in Kentucky can help assess your coverage needs and find the best flood insurance policy for your property. 

The Best Flood Insurance Discounts in Kentucky

You might be able to earn a couple of different flood insurance discounts in Kentucky. FEMA offers flood insurance discounts for certain newly mapped properties or for residents in communities that participate in the organization's Community Rating System. These discounts can range from 5% to 45%, depending on a property's classification. An independent insurance agent can also help you find any Kentucky flood insurance discounts you're eligible to receive. 

How to File a Flood Insurance Claim in Kentucky

Fortunately, the process of filing flood insurance claims is pretty simple. You can file a Kentucky flood insurance claim with just a few easy steps:

1. Contact your insurance company or agent: First, call your flood insurance carrier or independent insurance agent. Your agent can file a claim directly through your carrier for you. Either way, be prepared with your policy number and other insurance information.
2. Prepare for an inspection: Don't reenter your home until it's officially been declared safe for entry. Your insurance company will request specific details and evidence of the flood damage to your property. Prepare a written description of the catastrophe and take photos and videos of the damage. 
3. Cooperate with your claims adjuster: Typically, an insurance company assigns a claims adjuster within 24-48 hours to contact you to schedule a home inspection. On the date scheduled, your adjuster will visit your property in person to assess any flood damage. Your adjuster might be able to provide an estimated reimbursement amount during their visit, depending on your coverage and the extent of the damage.
4. Receive payment: You'll receive direct deposit or a claims check of any reimbursement your insurance company awards, depending on your coverage terms and the nature of the damage. Each insurance company has a different timeframe for when you will receive your claim payout. 

Your independent insurance agent can help walk you through the entire Kentucky flood insurance claims process and keep you updated every step of the way.

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Get Kentucky Flood Insurance Quotes

To receive the best help in your search for Kentucky flood insurance, contact a local Kentucky independent insurance agent. Your agent can compare Kentucky flood insurance quotes and policies from several different carriers to find the right match for you and your risk level. Contact an independent insurance agent in Kentucky today to get set up with all the flood insurance you need.

FAQs About Kentucky Flood Insurance