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The 5 Best Homeowners Insurance Companies in Mississippi

When looking for the best home insurance in Mississippi, the cost of your premiums should be one of several factors you consider. Other important factors can include coverage options, the company’s ability to pay claims, your coverage needs and customer service quality.

To make your search for the best homeowners insurance in Mississippi easier, MoneyGeek ranked the top five companies based on critical factors like policy premium costs, ability to pay claims according to AM Best’s financial stability ratings and J.D. Power customer satisfaction scores.


1

TravelersScore: 93

5/5

Affordability

3.9/5

User Satisfaction

5/5

Financial Stability


In Mississippi, Travelers provides coverage for dwellings, personal liability, personal property and loss of use. If you own a certified green home, your policy can cover repairing, replacing or rebuilding your home with green materials. You can conveniently make claims on the website or mobile app. There is also a detailed online quoting system.

Read MoneyGeek's Travelers Home Insurance Review

2

USAAScore: 92

4.2/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability


USAA is known for its exemplary customer service and affordable policies. You can bundle different policies for discounts, and you can carry out most transactions online using its mobile app.

3

AllstateScore: 81

3.8/5

Affordability

4.2/5

User Satisfaction

4.5/5

Financial Stability


A large network of local agents enables Allstate to offer personalized services in Mississippi. You have options to purchase a standard or extended coverage, and you can add extra coverage for liability protection and personal property. Allstate also offers discounts for multiple policy bundles. Filing claims and making payments can be done online. You can also find a useful claims tool.

Read MoneyGeek's Allstate Home Insurance Review

4

FarmersScore: 79

3.6/5

Affordability

4.6/5

User Satisfaction

4/5

Financial Stability


Farmers policies can be customized to suit individual needs with coverage for home contents, identity management and eco rebuild. Multi-policy combos come with discounts. The inventory tool available on the website is useful, and you can use the mobile app for bill payments, online claims and finding local agents.

Read MoneyGeek's Farmers Home Insurance Review

5

NationwideScore: 79

3.5/5

Affordability

4.3/5

User Satisfaction

4.5/5

Financial Stability


Getting a quote from Nationwide is easy with the feature-rich online quote tool. Policies can include coverage for dwellings, other structures, personal property and personal liability. You can supplement your policy with coverage for fraud, valuables and replacement costs. Discounts are available for multiple policy bundles, home protection systems and gated communities.

Read MoneyGeek's Nationwide Home Insurance Review

What Is the Average Cost of Homeowners Insurance in Mississippi?

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$0

home insurance is 0.0% more than the average.

For a baseline dwelling coverage amount of $100,000, the average annual cost of home insurance in Mississippi comes to $1,377. With a difference of $726 from the national average of $2,103, this is about 34.5% cheaper, on average. Insurance providers in Mississippi calculate insurance rates for individual customers based on their risk profiles, paying attention to factors like home values, crime rates and weather patterns.

Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Mississippi

Your current situation and the characteristic properties of where you live can play a significant role in deciding your homeowners insurance costs in Mississippi. Providers can consider factors like your home’s age, frequency of past claims and credit score to determine your premium costs.

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Home Insurance Calculator

State

Mississippi

Dwelling Coverage

$100,000

Deductible

$500

Liability

$300,000

Personal Property

$150,000

Credit Score

Excellent
moneygeek-logo

low end

on average

high end

These are annual estimates. Get a personalized quote to determine your costs.

The Cheapest Homeowners Insurance Quotes in Mississippi

If you are looking for cheap homeowners insurance in Mississippi, your most affordable option might be Travelers for a dwelling coverage baseline amount of $100,000. You could pay an average premium amount of $754 per year with a Travelers’ policy. On average, this turns out to be $623, or 45.3%, cheaper than the state average. Dwelling coverage usually pertains to repairing or rebuilding costs if particular circumstances, such as fire, floods, hurricanes or theft, cause damage to your home. To find the cheapest policy that provides the coverage you need, compare homeowners insurance quotes in Mississippi.

Cheapest Homeowners Insurance by Dwelling Coverage

Dwelling Coverage:

$100,000
Company
Amountper year
1. Travelers
In 2020, Travelers ranked #1 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Mississippi.
$754
2. USAA
In 2020, USAA ranked #2 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Mississippi.
$1,142
3. Allstate
In 2020, Allstate ranked #3 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Mississippi.
$1,367
4. Farmers
In 2020, Farmers ranked #4 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Mississippi.
$1,496
5. Nationwide
In 2020, Nationwide ranked #5 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Mississippi.
$1,549

Best Cheap Homeowners Insurance Companies for Expensive Homes

If you have an expensive home in Mississippi, getting the best home insurance policy that provides the right coverage and peace of mind can certainly be a good idea. For a $2 million home in Mississippi, USAA provides the cheapest policy, with an average premium of $10,370 per year. The second-most affordable option is Allstate, with an average annual cost of $11,385. Policies from other providers can be up to three times more expensive.

Cheapest Homeowners Insurance Companies for High-Value Homes
Company
Amountper year
1. USAA
In 2020, USAA ranked #1 in Mississippi for the cheapest homeowners insurance for high-value homes.
$10,370
2. Allstate
In 2020, Allstate ranked #2 in Mississippi for the cheapest homeowners insurance for high-value homes.
$11,385
3. Travelers
In 2020, Travelers ranked #3 in Mississippi for the cheapest homeowners insurance for high-value homes.
$14,534
4. State Farm
In 2020, State Farm ranked #4 in Mississippi for the cheapest homeowners insurance for high-value homes.
$19,250
5. Nationwide
In 2020, Nationwide ranked #5 in Mississippi for the cheapest homeowners insurance for high-value homes.
$22,214

Best Homeowners Insurance Companies if You Have a Pool

Your coverage requirements and insurance costs can both increase if you have a pool in your Mississippi home. Insurance rates can vary greatly among providers for an average dwelling value of $250,000. In Mississippi, Travelers may provide you with the most affordable coverage for a pool property, with an average annual cost of $1,480.

Cheapest Homeowners Insurance for Pool Home
Company
Amountper year
1. Travelers
In 2020, Travelers ranked #1 in Mississippi for the cheapest homeowners insurance for homes with a pool.
$1,480
2. Allstate
In 2020, Allstate ranked #2 in Mississippi for the cheapest homeowners insurance for homes with a pool.
$1,706
3. USAA
In 2020, USAA ranked #3 in Mississippi for the cheapest homeowners insurance for homes with a pool.
$2,106
4. Nationwide
In 2020, Nationwide ranked #4 in Mississippi for the cheapest homeowners insurance for homes with a pool.
$3,249
5. State Farm
In 2020, State Farm ranked #5 in Mississippi for the cheapest homeowners insurance for homes with a pool.
$3,292

Cheapest Home Insurance in Mississippi if You Have Poor Credit

Insurance companies can take your credit score in to account while deciding your premium costs. If you have a poor credit score, you might need to pay higher premiums. For Mississippi homeowners with poor credit, Farmers provides the cheapest home insurance, with an average rate of $1,496 per year for a baseline dwelling coverage amount of $100,000.

Cheapest Homeowners Insurance for Poor Credit
Company
Amountper year
1. Farmers
In 2020, Farmers ranked #1 for the cheapest homeowners insurance for owners with poor credit in Mississippi.
$1,496
2. USAA
In 2020, USAA ranked #2 for the cheapest homeowners insurance for owners with poor credit in Mississippi.
$2,859
3. Nationwide
In 2020, Nationwide ranked #3 for the cheapest homeowners insurance for owners with poor credit in Mississippi.
$3,005
4. Travelers
In 2020, Travelers ranked #4 for the cheapest homeowners insurance for owners with poor credit in Mississippi.
$3,247
5. MetLife
In 2020, MetLife ranked #5 for the cheapest homeowners insurance for owners with poor credit in Mississippi.
$3,824

How to Get Homeowners Insurance Quotes in Mississippi

Your insurance provider in Mississippi would require you to submit information like your name, address, phone number and Social Security number to process your insurance policy. Additionally, you might need to provide information about the value of your home and belongings, home security measures and details of add-ons like pools and solar panels. These details are instrumental for the insurance provider to come up with a personalized quote for your premium.

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Other Considerations for Homeowners Insurance in Mississippi

Other factors can also influence your home insurance premium costs in Mississippi. Crime statistics and weather patterns, for example, can be important metrics that your provider can consider. As an example, Mississippi ranks 21st in the country for property crime rates per 100,000 — with 6,999 violent crimes and 71,766 property crimes, according to a 2018 FBI study. Mississippi also has one of the cheapest average home value costs in the country, coming in at number 50 among all U.S. states and Washington D.C., with an average value of $126,502 per home.

It is important to consider your home insurance as one of the vital components of your emergency preparedness. In case of hazardous weather or natural calamities, the appropriate coverage in your home insurance policy in Mississippi can help you reduce or avoid the financial burden of repairing your home.


Do You Need Hurricane Insurance in Mississippi?This is an icon

Hurricane insurance can be a good idea in Mississippi. Mississippi is one of the 19 states most at-risk due to hurricanes. A category 3 hurricane in Mississippi can potentially affect about 56,768 homes, with an average repair cost of $11,573 per home. You should also consider getting separate insurance for floods and windstorms.

Do You Need Flood Insurance in Mississippi?This is an icon

Mississippi is one of the most at-risk states in the country in terms of possible flood damage, ranking at number 7 among all U.S. states and Washington D.C. A total of 13.6% of all properties — or 255,700 properties — in Mississippi can be considered vulnerable to potential flood damage. This makes flood coverage something you should consider. Some providers might not offer flood coverage. You can take a look at a National Flood Insurance Program (NFIP) policy, run by the government, if your community qualifies for it. An incremental private policy can also help you get a higher average amount.

Do You Need Windstorm Insurance in Mississippi?This is an icon

Windstorm insurance can be a good option in Mississippi as the state is vulnerable to hurricanes. Windstorm insurance would cover any damage that your home suffers as a result of high winds from storms or hurricanes.

Methodology

MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in Mississippi that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Mississippi. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $100,000, liability coverage of $100,000 and personal property coverage of $100,000.

Sources