Home Insurance in Lancaster, Kentucky
The median home value in Lancaster is $175,300, 14% lower than the Garrard County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Lancaster was built around 1968. About 28% of homes were built before 1960, about 13 points above Garrard County's 15%.
In Lancaster, the housing stock is 82% single-family homes, 3% apartments in buildings with 5+ units and 2% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
35% of owner-occupied homes in Lancaster carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Lancaster has an owner-occupancy rate of 55% and a vacancy rate of 9%; unoccupied homes typically need a different coverage form.
Most homes in Lancaster - 52% - are primarily heated with natural gas.
Garrard County's top FEMA-rated hazard is strong wind (Relatively Moderate), per FEMA's National Risk Index. Garrard County had 26 active NFIP flood policies as of September 2026. See the full Garrard County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Kentucky carries a statewide average premium of $1,525 per year.
Key figures
| Median home value | $175,300 |
|---|---|
| Median year built | 1968 |
| Owner-occupied share | 55% |
| Share of owner-occupied homes with a mortgage | 35% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Garrard County | 26 |
| Home insurance premium | $1,525 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)