Augustine Insurance - Fort Campbell (931) 431-3677
Augustine Insurance - Clarksville (931) 503-0015

Kentucky Neighborhood

Finding the perfect home in Hopkinsville, Kentucky is exciting. But it's just as important to make sure that home and its contents are protected in case of disaster. This is where home insurance coverage can help.

About Home Insurance In Hopkinsville

On average, homeowners insurance in Hopkinsville costs around $77 a month. The median value of a home in Hopkinsville, Kentucky is around $115,600 — and it's only going up. It's predicted this median value will rise by 2.1 percent in 2020. With the value of homes rising and the buyer's market booming, it's important to find insurance with the right amount of coverage.

What Homeowners Coverage Do I Need In Hopkinsville?

While Kentucky doesn't generally require homes to carry homeowners insurance, lenders will most likely ask you to carry liability insurance. A typical homeowners policy covers:

  • Liability: This helps pay for medical bills if you cause injury or property damage to someone else. It may also cover legal fees if the victim files a claim.
  • Dwelling: This assists in repairs and rebuilds when your home is damaged due to a covered incident. These include fire, hail and theft.
  • Other Structures: To insure structures that aren't attached to the home itself, you should consider buying other structures coverage.
  • Personal Property: This pays cash value or replacement value for belongings that are lost or damaged due to a covered incident.
  • Loss of Use: This coverage provides additional living expenses if you must temporarily move while your home is being rebuilt or repaired.

It's important to note that flood insurance and earthquake insurance are not usually included in a typical homeowners policy. Earthquakes and floods are both a genuine concern for Kentucky residents. Ask your Augustine Insurance agent about adding earthquake and flood insurance to your policy.

What Is The Homestead Exemption In Kentucky?

Kentucky homeowners who meet certain qualifications can receive a homestead exemption, which reduces their property tax. For example, the value of a homestead exemption from 2019-2020 is $39,300. This is subtracted from the value of your home. Property taxes are then calculated on the new number.

You can apply for homestead exemption if you are:

  • 65 years old or older
  • Classified as totally disabled
  • A veteran of the U.S. Armed Forces and have a disability due to service

This application must be filled out every year, except for veterans of the U.S. armed forces with service disabilities. If any of the above qualifications apply to you, consider applying for homestead exemption.

If you have any questions, ask an Augustine Insurance agent about insuring your Hopkinsville home.

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