besthome insuranceJackson2022The Best Cheap Homeowners Insurance in Jackson, Mississippi for 2022: Quotes and Reviews
In Jackson, Mississippi, residents pay an average of $2,761 annually or $230 monthly for homeowners insurance. Policy prices between insurance companies vary. Travelers offers the cheapest homeowners insurance in Jackson for an average annual premium of $1,502, while Farmers’ is the most expensive at $4,097 yearly. This means you can save up to $2,595 each year just by shopping around. If you value high quality and low costs, MoneyGeek ranked the best homeowners insurance companies in Jackson.
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Advertising & Editorial DisclosureLast Updated: 9/25/2022
Written By |
Mark Fitzpatrick
besthome insuranceJackson2022The Cheapest and Best Homeowners Insurance in Jackson
Cheapest homeowners insurance in Jackson - Travelers
Best homeowners insurance in Jackson - Travelers
The Cheapest Home Insurance Companies in Jackson
If you’re looking to purchase homeowners insurance in Jackson, there are several things to consider. The price of the policy is a primary factor, especially since most policies have similar core coverages.
On average, you can purchase the cheapest homeowners insurance in Jackson with a $250,000 dwelling coverage from:
- Travelers: $1,502 per year
- Allstate: $1,735 per year
The limit for dwelling coverage can be increased for more expensive homes, ensuring that your policy appropriately covers rebuilding costs. For policies with a dwelling coverage of $2 million, the cheapest homeowners insurance in Jackson are offered by:
- USAA: $10,370 per year (only available for military families)
- Allstate: $11,385 per year
You can use the table below to see how a policy’s premium changes when the dwelling coverage limits are adjusted.
The Cheapest Home Insurance in Jackson, Ranked
Dwelling Coverage:
$100,000
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Homes in Jackson typically have dwelling coverage limits of $250,000. These policies have personal property limits of $100,000. Policies for homes with a $2 million dwelling coverage limit also have higher thresholds for personal property coverage at $800,000. Regardless of dwelling coverage limits, liability coverage limits for all policies remain at $100,000.
If you live elsewhere in the state, you can still compare statewide home insurance quotes in Mississippi.
The Average Cost of Homeowners Insurance in Jackson for 2021
Jackson$1,377
MS$1,377
U.S.$2,103
The national average for homeowners insurance in the country is $2,103 per year. Homeowners living in Mississippi typically pay $1,377 per year for insurance. Those residing in Jackson, however, pay more. The average cost for homeowners insurance in Jackson is $2,761 annually or $230 monthly.
Calculate the Cost of Home Insurance in Jackson
Where you live has an impact on the cost of homeowners insurance in Jackson. It helps providers understand how vulnerable your home is to extreme weather conditions and property crime. Other factors considered are the limits for dwelling and personal property coverage and your credit standing.
Using MoneyGeek’s insurance calculator allows you to compare quotes in Mississippi.
Home Insurance Calculator
State
Mississippi
Dwelling Coverage
$100,000
Deductible
$500
Liability
$300,000
Personal Property
$20,000
Credit Score
Excellent
low end
on average
high end
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Jackson
Although a policy’s price is a factor to consider when purchasing homeowners insurance in Jackson, it shouldn’t be the only one. Ideally, you would want an insurance company that provides fair and efficient service if you make a claim, helping you avoid additional stress.
MoneyGeek compared several companies using an internal rating system and found that the best homeowners insurance companies in Jackson are:
- Best Overall: Travelers
- Runner Up: USAA (can only be purchased by former or current members of the military)
Financial strength, affordability and user experience were the criteria used by MoneyGeek to evaluate home insurance companies.
1
Travelers
Score:93
If your home is damaged and the required repairs are extensive, getting additional replacement cost coverage may be advantageous for you. If the expense incurred from rebuilding your home exceeds your dwelling coverage limit, your policy will still cover it anyway. If you’re environmentally conscious, Travelers offers extra coverage for repair costs if you use green materials.
More About Travelers
Ranking first is Travelers, with perfect scores in affordability and financial strength. You have the option to add identity fraud expenses coverage to your policy. It means what you spend restoring your identity will be covered, up to $25,000.
Read MoneyGeek's Travelers home Insurance Review2
USAA
Score:92
USAA puts a premium on safety. Having security devices such as smart locks or burglar alarms makes you eligible for a discount, making an affordable policy even cheaper. If you rent out your home — regardless of whether it’s a room or the entire property — USAA’s home-sharing coverage helps you cover expenses associated with being a landlord, such as costs of maintenance and repairs.
More About USAA
In second place is USAA. It also earned perfect scores in two areas — this time in user experience and financial strength. However, you need to either be an active member of the military or a veteran to purchase USAA policies.
Read MoneyGeek's USAA home Insurance Review3
Allstate
Score:81
4
Farmers
Score:79
5
Nationwide
Score:79
6
MetLife
Score:77
7
State Farm
Score:74
Cheapest Home Insurance Companies in Jackson for Newly Constructed Homes
One factor that affects how much homeowners insurance in Jackson costs is when your home was built. Newly constructed homes are typically cheaper to insure — the materials used are more resistant to damage and, if repairs are needed, easier to replace. Compared to homes built in 2000, which have an average annual rate of $2,761, newly built homes cost $662 less. You only pay $2,099 on average for home insurance each year.
In MoneyGeek’s study, the companies that offer cheap homeowners insurance in Jackson for homes built from 2015 onwards are:
- Travelers: $1,048 per year
- Allstate: $1,270 per year
The Cheapest Home Insurance in Jackson for New Homes, Ranked
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Cheapest Home Insurance Companies in Jackson if You Have a Lot of Personal Property
Purchasing homeowners insurance in Jackson is always encouraged because it doesn’t just protect your home from damages. It also provides coverage for your belongings. The amount of personal property you want to be covered affects your premium. For example, a policy with a $100,000 personal property coverage limit costs $2,761 per year on average. Increasing the limit to $250,000 makes your premium slightly more expensive at $2,876 each year.
Two companies offering cheap homeowners insurance in Jackson for homes with higher personal property coverage limits are:
- Travelers: $1,730 per year
- Allstate: $1,762 per year
Cheap Companies in Jackson for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Jackson for High Deductibles
All policies contain a deductible — the amount you pay out of pocket before your insurance begins to cover expenses. The lower the deductible, the higher the premium will be. The inverse is also true — policies with higher deductibles mean you may pay more out of pocket, but it costs you a smaller premium annually.
A policy with a $2,000 deductible costs $2,500 on average per year. It’s around 9.5% cheaper than a policy with a $1,000 deductible, which costs around $2,761 per year.
Of the companies analyzed by MoneyGeek, the ones offering the cheapest homeowners insurance in Jackson for policies with a higher deductible are:
- Travelers: $1,371 per year
- Allstate: $1,533 per year
The Cheapest Companies in Jackson for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Jackson if You Have Poor Credit
Unlike in some states, your credit score is a factor insurance companies consider when calculating homeowners insurance rates in Jackson, Mississippi. A homeowner with good credit standing pays an average of $2,761 each year. In comparison, a bad credit score more than doubles the rate to $6,077 per year, on average.
Homeowners with poor credit standing can purchase cheap homeowners insurance in Jackson from:
- Farmers: $4,097 per year
- USAA: $4,888 per year (can only be purchased by former or current members of the military)
The Cheapest Companies in Jackson for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Jackson
If you want to compare home insurance quotes in Jackson, getting them online is an efficient way to do it. When requesting a quote, most sites ask for the following information:
Your home’s replacement cost: This refers to the amount you’ll need to rebuild your home in the event of a total loss. It’s best to have your home assessed by a building contractor or a construction professional to get an accurate number. It determines how much dwelling coverage you’ll need.
Your personal property’s value: This determines your personal property coverage limit, as it ideally should be enough to cover expenses if your items are damaged or lost. To have an accurate assessment, it’s best to keep an updated inventory of your belongings.
Your personal information: This includes personal details such as your postal code and insurance history. Insurance providers may also want to know how many people live in your home and whether you have pets.
Your home’s details: This includes when your home was built and how big it is. It’s also vital to know whether you’ve had remodeling done or installed a security system.
Homeowners Insurance in Jackson Analysis: Methodology
MoneyGeek analyzed seven homeowners insurance companies in Jackson for this study. The baseline homeowner profile is for a 2,500-square-foot home built in 2000. Included in the profile is a $250,000 dwelling coverage limit and $100,000 coverage limits each for personal property and liability. To create a comparison, we also gathered quotes for homeowners with newly constructed homes, increased personal property and dwelling coverages, higher deductibles and poor credit. Using data provided in partnership with Quadrant, we calculated affordability scores by collecting quotes for homes with varying coverage levels. The results from J.D. Power’s surveys determined customer satisfaction ratings.
About the Author
sources
- Neighborhood Scout. "Jackson, MS. Crime Rates." Accessed June 30, 2021.