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Compare 40940 Home Insurance Rates Today!

Compare multiple home insurance rates for your home in Frakes just got easier with the quick quoting system provided by GetHomeInsuranceQuotes.com. We make it easier for you and your 182 neighbors looking to save on their home insurance policy in the local 40940 zip code area. Our process is very simple, easy to use and hassle free. We help you shop and compare competitive rates for your home in 40940. So how do we provide affordable home insurance quotes? We use your home details from our online quoting application to compare the best Kentucky rates and coverage options with over 12 major carriers. Then we evaluate the best coverage and apply all the discounts and credits to help you save an additional 40%. We do all of this and more and our service online or over the phone is free. Let us help you compare your Frakes, KY home insurance rates today!

For more information about homeowners insurance, like average home insurance rates, coverage options or home insurance types, please select Home Insurance Rates in Frakes, KY

40940 Home Insurance Average Premiums

Local 40940 homeowners insurance quotes comparison

$618 /yr.

Shows Zip Code: 40940 lowest rates with discounts applied on average.

For the 40940, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)		$618 /yr.
Average Coverage:$868 /yr.
2600 sq. ft. or higher
(all discounts applied)		$1168 /yr.

What is the average home insurance cost for a home in 40940?

  • • The average homeowners insurance premium paid annually for a home in 40940 is around $868 per year.

What does it cost on average per month for home insurance in 40940?

  • • Homeowners in 40940 pay a monthly average cost per month around $72.00.

What kind of discount could I get if I combine my home and auto insurance together in 40940?

  • • Autoowners in 40940 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.

For shopping home insurance rates within the Frakes area, check out other zip codes nearby 40940.
Review average rates in another zip code:
40940 homeowners insurance rates

Home Replacement Cost Coverage in 40940

Average Building Cost Per Square Foot in 40940: $118

Location: Frakes, Kentucky (Bell County)

Average Square Footage in 40940: 551 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 40940 before you start any project. Frakes homeowners pay on average around $118 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 40940 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Here is how you determine your replacement cost. If we take an average home in 40940 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 551 sq. ft. and the average cost to rebuild the home in this area is around $118 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Frakes area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.

Home Improvement StatusPrice per Sq. Ft.Square FeetDwelling Coverage
Basic Home Features$118551$65,000
Additional Upgrades & Added Features$148551$81,250
Major Home Updates or Advancements$177551$97,500

It's important to understand that when you estimate your replacement cost of your home in the 40940 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.

Best Homeowners Insurance Agencies in 40940

Best Home & Auto Insurance Agencies in 40940

Housing Demographics for 40940

Population Review for 40940 Zip Code

For the city of Frakes, the population within 40940 has increased to over 564 residents in population size. The current population total is 518. We have broken down the population based on race below. In 40940, there are over 277 in male population and 241 females.

PopulationValues
Total Population518
White Population495
Black Population3
Hispanic Population14
Asian Population0
Hawaiian Population0
Indian Population1
Other Population2
Male Population277
Female Population241
Population Estimate564

Household Data for 40940

The average number of homes in 40940 is around 182, there are an average of 2.85 per household. The average house value according to local real estate values is around $65,000. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode182
Persons Per Household2.85
Average House Value$65,000
Income Per Household$17330
Median Age41.4
Median Age Male39.2
Median Age Female43.8
40940 DetailsValues
StateKY
State Full NameKentucky
City TypeP
City Alias Abbreviation
Area Code606
CityFrakes
City Alias NameFRAKES
CountyBell
County FIPS013
State FIPS21
Time Zone5
Day Light SavingY
MSA
PMSA
CSA371
CBSA33180
CBSA_DIV
CBSA_TypeMicro
CBSA_NameMiddlesborough, KY
MSA_Name
PMSA_Name
RegionSouth
DivisionEast South Central
MailingNameY
Economic & Growth ReviewValues
Number Of Businesses5
Number Of Employees37
Business First Quarter Payroll292
Business Annual Payroll1199
Business Employment Flag
Growth Rank0
Growth Housing Units 2003
Growth Housing Units 2004
Growth Increase Number0
Growth Increase Percentage0.0
Metropolitan DetailsValues
CBSA Population28691
CBSA Division Population0
Congressional District05
Congressional LandArea11235.15
Delivery Residential198
Delivery Business1
Delivery Total288
Preferred Last Line KeyX15046
Classification Code
Multi-CountyY
CSA NameMiddlesborough-Corbin, KY
CBSA_DIV_Name
City State KeyX15046
Land Area30.236000
Water Area0.030000
City Alias Code
City Mixed CaseFrakes
City Alias Mixed CaseFrakes
Box Count81
SFDU198
MFDU0
State ANSI21
County ANSI013
ZIP Intro
Alias Intro
Facility CodeP
City Delivery IndicatorN
Carrier Route Rate SortationC
Finance Number202916
Unique ZIP Name
SSA State County Code18060
Medicare CBSA Code99918
Medicare CBSA NameRural Areas in KY
Medicare CBSA TypeMicro
Market Rating Area ID8
County Mixed CaseBell

Kentucky Homeowners Insurance News & Information

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  • Economists Top 5 Housing Predictions for 2025 Posted on Monday 6th January, 2025

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  • Do homeowners insurance policies have loopholes? Posted on Monday 30th December, 2024

    Homeowners insurance is a necessity to help protect your home, but there can be coverage gaps that you may not be aware of which can leave you unprotected. Flood and earthquake damage along with mold and other issues are excluded from most standard homeowners insurance policies.  Here are some common exclusions that could leave you […]