The Best Homeowners Insurance Companies in Mississippi (2022)
The best home insurance companies in Mississippi balance affordability with good service. That means you should look for insurers that offer a good claims experience, provide quality customer service and are financially stable. MoneyGeek found that Travelers is the best insurer overall in the state. Based on your unique requirements, however, the best provider for you may be different.
Although Travelers is the best overall insurer in Mississippi, we found that State Farm is the best choice when it comes to customer service, for bundling with a car insurance policy and for homeowners with expensive homes.
MoneyGeek’s analysis determined the best home insurance companies in Mississippi for various types of homeowners that offered several coverage options and discounts to help you find the best policy.
If you’re more concerned with savings than service quality, MoneyGeek also analyzed the cheapest home insurance companies in Mississippi.
The Best Homeowners Insurance in Mississippi
The Best Overall Homeowners Insurance Companies in Mississippi
Some homeowners focus solely on cost when shopping for home insurance, while others look for specific coverages and service quality. MoneyGeek rated the best home insurance providers in Mississippi based on multiple factors such as affordability, quality customer service, financial stability and claims reputation. The top two companies are:
- Travelers: MoneyGeek score of 83 out of 100
- Allstate: MoneyGeek score of 79 out of 100
USAA was not considered in this analysis because it is exclusive to military members and their families. However, it received the highest MoneyGeek score of 95 out of 100 and is the best choice for homeowners with a military background.
We look at the reasons Travelers and Allstate ranked the highest, along with some of the unique coverages and discounts they provide.
The Top Home Insurance Companies in Mississippi
Travelers ranked first for affordability, with a perfect score. It is tied for first place for financial stability but ranks last out of five when it comes to user satisfaction. The average cost of a home insurance policy from Travelers is $754 per year. The insurer offers energy efficiency upgrade coverage to its policyholders, which is a unique coverage. However, it does not have new home or home renovation discounts, which other companies commonly offer.
Travelers offers energy efficiency upgrade coverage that helps pay for the cost of repairing your house using green materials after a covered loss. This coverage is not commonly available. Keep in mind that this coverage is available as an add-on, which means you may have to pay more to include this coverage in your policy. Travelers has a home buyer discount, which is available to policyholders who purchased their home within 12 months before the policy effective date. You can also get a 5% discount if your home is already certified green by the Leadership Energy and Environmental Design (LEED) organization.
Allstate came in second for customer satisfaction, affordability and financial stability. In Mississippi, Allstate offers home insurance for $1,367 per year on average. The insurer offers yard and garden coverage, which is not widely available, but does not provide coverage for content replacement that other insurers usually do.
Allstate offers unique add-on coverages for home rental and mold. While the home rental coverage provides added protection for your items when you rent your home, the mold coverage pays for protection against mold and fungus. Allstate also offers unique discounts on claim forgiveness and deductibles. The claim forgiveness discount ensures that your premium does not increase after you file a claim, while the deductible rewards discount gives you discounts on your deductible.
MoneyGeek analyzed home insurance quotes from leading insurance companies across the country and also considered claims ratings and user satisfaction scores from J.D. Power. This methodology helped us determine the best home insurance company nationally and in Mississippi.
However, the best home insurance for you may vary depending on your specific needs and background.
The Best Homeowners Companies in Mississippi for Service Quality
If price is not as important as an insurer’s claims record and customer service level, MoneyGeek’s research can help. We scored the best home insurance companies in Mississippi based almost entirely on user satisfaction and claims experience.
The top two companies in this regard are:
- State Farm: MoneyGeek score of 81 out of 100
- Nationwide: MoneyGeek score of 81 out of 100
Although both State Farm and Nationwide received the same ranking points, State Farm ranked first with a higher user satisfaction score.
USAA ranked the highest among all insurers with a MoneyGeek score of 100 out of 100 but was not considered in this analysis as it is only available to current and former armed forces members and their families.
MoneyGeek also details the reasons why State Farm and Nationwide scored highest for homeowners who want the best possible service experience regardless of cost.
The Top Home Insurance Companies in Mississippi for Quality Service
Nationwide ranks first for claims and second for financial stability. The insurer came in fourth out of five for user satisfaction. Nationwide is rated highly when it comes to offering excellent service when customers make a claim.
Nationwide offers better roof replacement coverage that pays to replace your roof with stronger and safer roofing materials. This is optional coverage, so you’ll have to pay more for your insurance policy to include it.
State Farm ranked first in user satisfaction and financial stability. The insurer came in last out of five in terms of claims. State Farm is noted for offering its customers a great service experience through its high-quality policy offerings and processes.
State Farm’s unique coverage offerings make it a great option. The insurer offers a home systems protection coverage add-on that pays for any loss due to an accidental disruption of home equipment like electrical generators, heating systems and water filtration systems. The company also provides loss assessment coverage if you’re a registered homeowners association member. This coverage pays for your portion of a covered loss that your HOA assesses. Note that some of these coverages may come at an added cost.
The Best Homeowners Companies in Mississippi on a Budget
The price of insurance is often one of the biggest concerns of Mississippi homeowners. MoneyGeek classified the best insurers to help those looking for affordable home insurance without compromising service quality.
Based on MoneyGeek’s evaluation, the best home insurance companies in Mississippi for homeowners on a budget are:
- Travelers: MoneyGeek score of 91 out of 100
- Allstate: MoneyGeek score of 78 out of 100
Although USAA also received a MoneyGeek score of 91 out of 100, we did not include it in our ranking list. But, at $1,142 per year, it is the second-best option for members of the armed forces and their families.
The average cost of home insurance offered by Travelers is $754 per year. Allstate home insurance averages $1,367 per year.
Below, MoneyGeek provides a detailed analysis of the top insurer and some of the coverages that it offers.
The Top Home Insurance Companies in Mississippi on a Budget
Affordable home insurance at an average of $754 per year
Discounts for bundling, protective devices and remaining claim-free
Does not offer new home or home renovation discounts
MoneyGeek satisfaction rating of 3.55 out of 5
Travelers has a 5 out of 5 rating score for affordability in Mississippi. You can save on insurance expenses by purchasing an auto insurance policy from the same provider. You will get a discount for installing protective devices like home security systems, smoke detectors and smart home technology and remaining claim-free for a specified duration.
The company offers some unique discounts to policyholders. You can save up to 5% by getting your home certified as a “green home” by the Leadership Energy and Environmental Design (LEED) organization. Travelers also offers a unique discount to policyholders who have purchased their home within 12 months before the policy takes effect.
The Best Homeowners Companies in Mississippi for Expensive Homes
If you own an expensive home in Mississippi, you can expect to pay more for your home insurance. That’s because they cost more to rebuild or replace than less expensive homes. In our research, we weighed the cost of insuring a home with a $2 million replacement against customer satisfaction. The two top-rated companies are:
- State Farm: MoneyGeek score of 84 out of 100
- Allstate: MoneyGeek score of 82 out of 100
Although USAA scored highest in our ranking system, we did not include it in our listing. However, with a MoneyGeek score of 100 out of 100, it is the best option for homeowners with a military background.
Our analysis below explains why State Farm and Allstate are the best options to insure an expensive home along with unique coverages that are valuable for those homeowners.
The Top Home Insurance Companies in Mississippi for High-Value Homes
Ranks in the top half of the state for affordability at $19,250 per year
MoneyGeek customer satisfaction score of 4.09 out of 5
Does not provide coverage for extended reimbursement or content replacement
In addition to a high customer satisfaction score, State Farm offers relatively affordable insurance for expensive homes in Mississippi.
State Farm offers coverage options that may especially come in handy if you own an expensive home. For example, scheduled personal property coverage pays for the loss of items such as jewelry and guns. With optional cyber event and ID theft coverage, you get identity restoration and fraud loss protection.
The insurer also offers additional coverage that pays for fungus and mold damage (up to $20,000). This may be especially useful for large houses that typically have a swimming pool and require regular maintenance.
The Best Homeowners Companies in Mississippi for Veterans
Our research also analyzed the best insurers in Mississippi for current and former members of the armed forces and their families. With a MoneyGeek score of 95 out of 100, USAA is the best option for military members in the state.
In Mississippi, the average cost of home insurance policies from USAA is $1,142 per year. USAA’s policies are exclusive to members of the armed forces and their families.
The Top Home Insurance Companies in Mississippi for Veterans
Offers coverage tailored to military families
User satisfaction score of 5 out of 5
Affordability score of 4.24 out of 5
Available only for members of the armed forces and their families
USAA ranks well for customer satisfaction and affordability.
The insurer offers specific coverages that are very helpful to military families. For instance, it offers coverage for loss of personal belongings at current market value without depreciation. This is useful for military families that may have to relocate frequently.
USAA policyholders can bundle their auto insurance and home insurance to save money. The company also offers saving opportunities for homeowners with protective devices in place, such as a home security system and water sensors. You can save even more if you do not file any claims for five years.
The Best Homeowners Companies in Mississippi for Bundling
Usually, bundling home and auto insurance helps you save on premium costs. Our analysis also evaluated the insurers that offer the best bundling options for home and car insurance policies.
The top two insurers that offer the best home insurance policies along with the best car insurance in Mississippi are:
- State Farm: MoneyGeek score of 81 out of 100
- Travelers: MoneyGeek score of 79 out of 100
Choosing a bundling option to combine home and auto insurance usually gives you access to additional discounts. You also get the added advantage of buying insurance from the same company, making it more convenient when updating your policy or changing your coverages.
The Top Home Insurance Companies in Mississippi for Bundling
Offers bundling discount of 29%
Home MoneyGeek score of 3.81 out of 5
Auto MoneyGeek score of 3.77 out of 5
State Farm’s home and auto insurance MoneyGeek ranking scores are 3.81 out of 5 and 3.77 out of 5, respectively. However, you can get a discount of up to 29% by bundling your home and auto insurance policies at State Farm.
State Farm offers some unique home insurance coverage to its policyholders. Its optional vacancy coverage pays for vandalism and glass breakage if your house has been empty for more than 30 days. Another opt-in is service line coverage, which pays to repair exterior underground water and sewer piping, electrical service lines and data lines.
The company also offers unique auto insurance add-on coverages, such as rideshare insurance. This coverage makes sure that the medical, emergency roadside assistance and rental car reimbursement in your personal auto policy remain in effect when you’re working for a ridesharing company.
How to Find the Best Home Insurance in Mississippi
You can find the best home insurance in Mississippi that offers a good balance of affordability, stability and quality service using MoneyGeek’s analysis. However, it pays to perform your own research to find the best insurance that fulfills all your requirements.
Research Customer Service Reputations in Mississippi
Although MoneyGeek has performed exhaustive research to give you the best home insurance options in Mississippi, you can also check user satisfaction scores at J.D. Power and complaint ratios from the National Association of Insurance Commissioners (NAIC). It’s also a good idea to check the Mississippi Department of Insurance website.
Compare Quotes for Yourself
Although MoneyGeek’s analysis involved getting quotes from insurers in different areas of Mississippi for sample homeowners, this research did not cover the entire state. While performing your own research, you should compare quotes from at least three companies to get a good idea of how much home insurance costs in your area.
Make Sure the Company Has Coverages You Want in Mississippi
When choosing the company for your home insurance, ensure that the policy has all the coverage and options that you need. Insurers advertise many add-on coverages, but sometimes those features aren’t extended to every state. Confirm with each insurer that they offer exactly what you’re looking for.
Double-Check Financial Stability Ratings
Another important factor to consider is the financial stability of the insurance company. Generally, larger companies are more financially stable, whereas regional insurers in Mississippi may not be. An insurer’s financial stability rating gives you an idea if you can expect claims to be paid.
FAQs About the Best Home Insurance in Mississippi
There are many factors to take into account before you choose the best home insurance policy. Reading through our answers to some of the most frequently asked questions will give you a better understanding of what to consider before making a choice.
MoneyGeek scores for homeowners insurance in Mississippi were calculated by using a scaled and weighted average of J.D. Power Property Claims and Customer Satisfaction Scores, real homeowners insurance quotes and financial stability ratings from A.M. Best. Our scoring system weighted J.D. Power scores 60%, affordability 30% and financial stability 10%, adjusting weightings in the sections focused on affordability and service experience specifically.
MoneyGeek analyzed homeowners insurance quotes from 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.
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