Staff Answer
May 21, 2026 - 09:38 PM
We are not insurance agents and cannot give insurance advice, but a few practical steps may help.
First, shop the policy through an independent insurance agent or broker who can quote multiple carriers, not just one company. AAOA also has landlord insurance resources here that may be a helpful starting point: https://american-apartment-owners-association.org/real-estate/landlord-insuranc
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Make sure the policy is being written as landlord/rental property coverage, not regular homeowner’s insurance, and ask the agent to review deductibles, replacement-cost limits, liability limits, loss-of-rent coverage, roof age, claim history, and any optional endorsements that may be driving the premium.
You might also ask whether increasing the deductible, bundling policies, improving safety features, updating the roof/electrical/plumbing, requiring tenants to carry renters insurance, or documenting maintenance updates could help reduce the premium. Be careful not to reduce coverage so much that one claim creates a bigger financial problem than the premium increase.
Since the property is in Kentucky, you can also ask a Kentucky-licensed insurance agent about the Kentucky FAIR Plan, which may be an option of last resort for property owners who cannot obtain coverage through the regular market. It may not be cheaper or as broad as standard coverage, but it is worth asking about if regular-market options are becoming difficult.
Insurance rules, availability, and pricing can vary by state, county, city, municipality, property condition, claim history, lender requirements, and local risk factors. A Kentucky-licensed insurance professional is the best person to review the actual policy and quote options.
