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The 5 Best Homeowners Insurance Companies in Missouri
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.
1
USAA
Score:100
More About USAA
USAA offers prices that are generally affordable and has good standards of customer service. Customers have the option of bundling multiple insurance policies for large discounts and opt for identity theft coverage with their insurance. You can report or view claims using USAA’s mobile app.
2
Travelers
Score:93
More About Travelers
A Travelers policy in Missouri can cover dwellings, liability protection, personal property and medical coverage for guests. For certified green homes, you may also have coverage for the cost of repairing, replacing and rebuilding using green materials. You can file claims and pay bills online using their website or mobile app. There is also a comprehensive online quoting system.
Read MoneyGeek's Travelers home Insurance Review3
State Farm
Score:91
More About State Farm
State Farm policies can cover dwellings, personal liability, personal property and medical payments for guests, with the option to include coverage for energy efficiency upgrades and safety upgrades. You can get online quotes and make claims using either the website or the mobile app.
Read MoneyGeek's State Farm home Insurance Review4
Allstate
Score:86
More About Allstate
Allstate has a large network of local agents in Missouri to help provide personalized service. You can opt for a standard or extended coverage, such as personal property and liability protection. There are discounts for multiple policies and safe homes. You can file claims, pay bills online and make use of a handy claim tool.
Read MoneyGeek's Allstate home Insurance Review5
AAA
Score:84
More About AAA
AAA is known for having a large car insurance network and provides home insurance coverage to AAA Auto Club members. The rates are generally affordable, while the coverage options are basic and limited. Coverage can include dwellings, personal property and liability protection with discounts for claim-free customers, retirees and home renovations. Since you are most likely to bundle this with an existing AAA auto insurance policy, you can expect significant discounts.
What Is the Average Cost of Homeowners Insurance in Missouri?
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For a dwelling coverage baseline amount of $250,000, the average cost of home insurance in Missouri is $2,710 per year. Compared with the national average of $2,103 per year, this turns out to be 28.8%, or $607, more expensive, on average. For individual customers, companies use different metrics and factors to determine risk and premium rates. Home values, crime rates and weather conditions can be important considerations.
Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Missouri
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
$50,000
Credit Score
Excellent
low end
on average
high end
These are annual estimates. Get a personalized quote to determine your costs.
The Cheapest Homeowners Insurance Quotes in Missouri
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
Dwelling Coverage:
$250,000
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Best Cheap Homeowners Insurance Companies for Expensive Homes
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
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Best Homeowners Insurance Companies if You Have a Pool
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
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Cheapest Home Insurance in Missouri if You Have Poor Credit
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
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How to Get Homeowners Insurance Quotes in Missouri
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.
Other Considerations for Homeowners Insurance in Missouri
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.
Expert Advice on Home Insurance in Missouri
- What advice would you give for first-time buyers looking for homeowners insurance in your state?
- How do regulations and laws in your state impact the amount or type of coverage a homeowner should buy?
- Are there any environmental factors homeowners should consider when selecting a home insurance plan in your state?
Phil Hearn
Strategic Business Consultant at Real Estate Bees
Methodology
MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in Missouri that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Missouri. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.
sources
- AM Best. "Rating." Accessed July 27, 2020.
- Business Insider. "Here's the typical home price in every state — and what you can actually get for that money." Accessed July 10, 2020.
- FBI. "2018 Crime in the United States." Accessed July 10, 2020.
- First Street Foundation. "The First National Flood Risk Assessment Defining America’s Growing Risk." Accessed July 10, 2020.
- Flood Factor. "Find Your Home’s Flood Factor." Accessed July 10, 2020.
- Insurance information institute. "Facts + Statistics: Hail." Accessed July 10, 2020.
- Insurance information institute. "Facts + Statistics: Hurricanes." Accessed July 10, 2020.
- Insurance Information Institute. "Facts + Statistics: Wildfires." Accessed July 10, 2020.
- J.D. Power. "Homeowners’ Satisfaction with Property Claims Reaches Record High as Insurers Focus on Relationship Management, J.D. Power Finds." Accessed July 27, 2020.
- Verisk. "Wildfire Risk Analysis." Accessed July 10, 2020.