The Best Homeowners Insurance Companies and Cheapest Quotes in Mississippi for 2021

Homeowners insurance can help preserve the safety of your home and bring you peace of mind. With MoneyGeek’s unique ranking system, you can now compare Mississippi’s average premium with the national average and select the most affordable policy for safeguarding your property from damages. MoneyGeek provides you with a list of the most affordable insurance companies in Mississippi so you can find the cheapest and best policy to protect your home, no matter your credit score.

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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
Travelers
Score:93

5/5

Affordability

3.9/5

User Satisfaction

5/5

Financial Stability

More About Travelers

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
USAA
Score:92

4.2/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability

More About USAA

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
Allstate
Score:81

3.8/5

Affordability

4.2/5

User Satisfaction

4.5/5

Financial Stability

More About Allstate

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
Farmers
Score:79

3.6/5

Affordability

4.6/5

User Satisfaction

4/5

Financial Stability

More About Farmers

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
Nationwide
Score:79

3.5/5

Affordability

4.3/5

User Satisfaction

4.5/5

Financial Stability

More About Nationwide

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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home insurance is equal to 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.

moneygeek-logo

Home Insurance Calculator

State

Mississippi

Dwelling Coverage

$100,000

Deductible

$500

Liability

$300,000

Personal Property

$20,000

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

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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

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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

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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

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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.

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.

About the Author


expert-profile

The MoneyGeek editorial team has decades of combined experience in writing and publishing information about how people should manage money and credit. Our editors have worked with numerous publications including The Washington Post, The Daily Business Review, HealthDay, and Time, Inc., and have won numerous journalism awards. Our talented team of contributing writers includes mortgage experts, veteran financial reporters, and award-winning journalists. Learn more about the MoneyGeek team.


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