The Best Homeowners Insurance Companies and Cheapest Quotes in Missouri for 2020

If you are looking for the best home insurance in Missouri, you need to consider factors like the cost of your premiums, coverage options, quality of the customer service and ability of the company to pay claims.

MoneyGeek has ranked the top five home insurance companies to help you choose the best home insurance in Missouri. The comparison analyzes factors like policy costs, J.D. Power customer satisfaction ratings and the ability to pay claims based on AM Best’s financial stability scores.

Your current situation and the characteristic properties of your area can impact your home insurance costs in Missouri. Insurance companies can consider factors like the value of your home and its age, your credit score and frequency of past claims as important metrics to determine your costs.

Home Insurance Calculator

State

Missouri

Dwelling Coverage

$250,000

Deductible

$500

Liability

$300,000

Personal Property

$150,000

Credit Score

Excellent

low end

on average

high end

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

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If you are trying to find cheap homeowners insurance in Missouri, a policy from AAA might be the most affordable. Homeowners with an AAA policy could pay an average annual premium of $1,944 in Missouri for a baseline dwelling coverage amount of $250,000. This average cost is about 28.2% less than the state average, coming to an average of $765 less annually. Dwelling coverage is typically repairing or rebuilding costs within your policy if your home sustains damages from specific circumstances, like hurricanes, floods or theft. Compare homeowners insurance quotes for the best deal and coverage level.

Cheapest Homeowners Insurance by Dwelling Coverage

Owning an expensive home doesn’t limit you in terms of finding the best and affordable insurance policy. In Missouri, the most affordable option for a $2 million home is a policy from USAA, with an average premium of $8,343 per year. The second-most affordable is American Family, with an average annual premium of $12,266. Policies from other providers can reach $40,000, on average, in some cases.

Cheapest Homeowners Insurance Companies for High-Value Homes

Having a pool at your home in Missouri can increase its value and improve your home life. However, it also usually means extra coverage and costlier premiums. For an average dwelling cost of $250,000, insurance rates for homes with pools can vary significantly across providers. The most affordable option in Missouri is USAA, with an average annual cost of $1,918. The second-most affordable is Travelers, with an average cost of $1,949 per year.

Cheapest Homeowners Insurance for Pool Home

Your credit score can be an important factor when insurance companies assess your risk profile and premium costs. A higher credit score can mean lower premiums, while a poor credit score can make premiums more expensive. For Missouri homeowners with poor credit, AAA provides the most affordable home insurance, with an average annual rate of $1,944 for a baseline dwelling coverage amount of $250,000.

Cheapest Homeowners Insurance for Poor Credit

For an insurance company to provide you with a policy, you would have to disclose details like your name, address, phone number and Social Security number. You would also have to share the value of your home and possessions, any home security measures you have implemented and the details of additions like pools and solar installations. With these details, your provider would be able to come up with a personalized quote for you.

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A number of other factors can also be quite important when determining your home insurance costs in Missouri. Home values, weather patterns and crime rates can be important metrics. For example, a 2018 FBI study ranks Missouri 15th in the country in terms of property crime rate per 100,000 — with 30,758 violent crimes and 162,173 property crimes. In terms of home value, the state ranks 41st, with a typical average cost of $162,464 per home.

It is a good idea to remain prepared for emergencies, especially those caused by natural calamities and hazardous weather. Including coverage for natural calamities like floods and hurricanes in your home insurance policy can help mitigate your financial burden if your home falls prey to a disaster.

1. What advice would you give for first-time buyers looking for homeowners insurance in your state?

   Phil Hearn

   Find an experienced insurance agent in your area. Seasoned agents can help you identify the risks and gaps in coverage that you will never consider on your own. I would do a walkthrough of the property, inside and out, and take notes of everything you see which can get damaged in some way. Then, discuss this list with your insurance agent and confirm that your insurance policy covers everything of value.

   One example that I see left out or undervalued the most on a policy is coverage for other structures. Make sure you calculate the value of your detached garage, outdoor shed, fencing and other structures to see if you need additional coverage.

2. How do regulations and laws in your state impact the amount or type of coverage a homeowner should buy?

   Phil Hearn

   The state of Missouri doesn’t require homeowners insurance. However, due to extreme weather conditions experienced throughout the state, I highly recommend everyone to have at least a minimal policy.

3. Are there any environmental factors homeowners should consider when selecting a home insurance plan in your state?

   Phil Hearn

   If your home is anywhere near “tornado alley,” make sure you don’t skimp on your homeowners insurance policy. With hail storms coming through every year, I highly recommend that everyone review their policy for a roof replacement endorsement.

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Phil HearnStrategic Business Consultant at Real Estate BeesREAD ANSWERS

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