Mississippi Farm Bureau is the cheapest home insurance provider in Mississippi, with premiums starting at $1,126 annually for $100K in dwelling coverage. However, remember that the cost of home insurance can differ considerably based on the dwelling coverage selected. Mississippi Farm Bureau ranks as the cheapest provider across varying coverages in Mississippi. Take a look at their rates:
Cheapest Homeowners Insurance in Mississippi (2024 Rates)
Mississippi Farm Bureau offers the lowest home insurance in Mississippi at $1,126 yearly. This can change, though, as your unique circumstances and property type influence which insurer is cheapest for you.
Updated: November 10, 2024
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Key Takeaways
The most affordable companies in Mississippi are Mississippi Farm Bureau, Foremost Insurance, and State Farm.
In Mississippi, the cheapest option for new homes is Mississippi Farm Bureau at $714, with Foremost Insurance and State Farm as runners-up.
Allstate offers the most affordable home insurance bundle in Mississippi with an annual premium of $2,453.
Why Trust MoneyGeek? MoneyGeek used information from the Mississippi Insurance Department and Quadrant Information Services to obtain data on insurance rates, discounts and more.
These rates reflect the cheapest home insurance quotes in Mississippi as of 2024.
Overall Cheapest Homeowners Insurance in Mississippi
Mississippi Farm Bureau is the cheapest provider for home insurance in Mississippi, with premiums starting at $1,126 annually for $100K in dwelling coverage. Keep in mind, however, that the cost of home insurance can differ considerably based on the dwelling coverage selected.
In Mississippi, the Mississippi Farm Bureau ranks as the cheapest provider across varying coverages. Take a look at their rates:
- Cheapest for $100,000: Mississippi Farm Bureau at $1,126 per year
- Cheapest for $250,000: Mississippi Farm Bureau at $2,586 per year
- Cheapest for $500,000: Mississippi Farm Bureau at $4,063 per year
See how rates differ by dwelling coverage with MoneyGeek's cheap home insurance table.
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
Mississippi Farm Bureau | $1,126 |
Foremost Insurance | $1,464 |
State Farm | $1,891 |
Nationwide | $2,031 |
Allstate | $3,165 |
Travelers | $10,364 |
Compare Mississippi Home Insurance Quotes Online
For residents in Mississippi, the key to affordable home insurance is to gather quotes from several insurers. MoneyGeek’s home insurance calculator simplifies this task, offering Mississippi quotes swiftly without requiring personal information initially.
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Rates updated:
Dec 06, 2024
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Cheapest Home Insurance in Mississippi for High-Value Homes
In Mississippi, homeowners with high-value residences can find the most affordable rates with the Mississippi Farm Bureau, starting at $4,681 annually for $750K in dwelling coverage. As dwelling coverage is a significant factor in home insurance pricing, upscale homes often have heftier premiums.
If you own a high-value home in Mississippi, the Mississippi Farm Bureau is the most affordable provider across varying coverages:
- Cheapest for $750,000: Mississippi Farm Bureau at $4,681 per year
- Cheapest for $1,000,000: Mississippi Farm Bureau at $5,356 per year
Remember, homeowners should get dwelling coverage fitting the replacement cost of their home, not the property value. Navigate MoneyGeek's table below to understand how costs shift with dwelling coverage.
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
Mississippi Farm Bureau | $4,681 |
State Farm | $8,114 |
Foremost Insurance | $11,541 |
Nationwide | $11,854 |
Allstate | $17,456 |
Travelers | $26,834 |
Cheapest Home Insurance in Mississippi for New Homes
The most affordable home insurance in Mississippi for new homes with $100K in dwelling coverage is offered by the Mississippi Farm Bureau for $714 per year. New homes in Mississippi typically benefit from lower insurance premiums, primarily due to their up-to-date construction that reduces potential claim risks.
For those with new residences, Mississippi Farm Bureau offers the most competitive rates across varying coverages:
- Cheapest for $100,000 dwelling coverage: Mississippi Farm Bureau at $714 per year
- Cheapest for $250,000 dwelling coverage: Mississippi Farm Bureau at $1,626 per year
- Cheapest for $500,000 dwelling coverage: Mississippi Farm Bureau at $2,564 per year
Explore MoneyGeek's table for insights on how insurance premiums adjust for new homes based on dwelling coverage.
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
Mississippi Farm Bureau | $714 |
Foremost Insurance | $1,050 |
State Farm | $1,065 |
Nationwide | $1,183 |
Allstate | $2,440 |
Travelers | $2,948 |
Cheapest Home Insurance in Mississippi for Low Credit Scores
In Mississippi, Mississippi Farm Bureau stands out as the most affordable home insurance provider for those with poor credit, offering a rate of $2,489 annually for $100K in dwelling coverage. Credit scores are pivotal in shaping home insurance premiums, as they help insurers predict potential payment defaults.
Here's a snapshot of the most competitive rates for varying coverage levels for those with poor credit:
- Cheapest for $100,000: Mississippi Farm Bureau at $2,489 per year
- Cheapest for $250,000: State Farm at $5,161 per year
- Cheapest for $500,000: State Farm at $8,498 per year
Mississippi residents with poor credit can expect an average difference of $5,481 in annual premiums for $100K dwelling coverage compared to those with good credit. For a detailed analysis, refer to MoneyGeek's table.
- Below Fair
- Excellent
- Fair
- Good
- Poor
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
Mississippi Farm Bureau | $2,489 |
State Farm | $2,720 |
Foremost Insurance | $4,037 |
Nationwide | $4,059 |
Allstate | $5,218 |
Travelers | $34,406 |
Cheapest Home Insurance in Mississippi With a Claims History
Mississippi Farm Bureau consistently ranks as the most affordable home insurance in Mississippi for those with one claim in the past five years. Past claims can determine future insurance premiums, as they can indicate potential risks to insurers.
Check out Mississippi Farm Bureau's rates for varying coverage levels:
- Cheapest for $100,000: Mississippi Farm Bureau at $1,329 per year
- Cheapest for $250,000: Mississippi Farm Bureau at $3,051 per year
- Cheapest for $500,000: Mississippi Farm Bureau at $4,794 per year
A clean claims record can lead to substantial savings. For instance, Mississippi homeowners with two claims in the past five years pay an average of $482 more annually for $100K dwelling coverage than those without claims.
- 1 claim in past 5 years
- 2 claims in past 5 years
- Claim free for 5+ years
- 2000
- 2023
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
Mississippi Farm Bureau | $1,329 |
Foremost Insurance | $1,724 |
State Farm | $1,963 |
Nationwide | $2,074 |
Allstate | $3,316 |
Travelers | $11,103 |
Cheapest Home Insurance in Mississippi by Home and Roof Materials
Your home's structural design and roofing choice can influence your insurance premiums in Mississippi. For homes built with a "frame" construction and equipped with a shake-treated roof, Mississippi Farm Bureau stands out as the most affordable option, charging $1,171 annually. Such construction and roofing choices might attract higher premiums due to potential vulnerabilities.
For these homes in Mississippi, here are the best rates for different coverage values:
- Cheapest for $100,000: Mississippi Farm Bureau at $1,171 per year
- Cheapest for $250,000: Mississippi Farm Bureau at $2,689 per year
- Cheapest for $500,000:Mississippi Farm Bureau at $4,225 per year
It's noteworthy that opting for superior construction with a tile roof can lead to an average annual savings of $887 compared to frame-type homes with shake-treated roofs.
- Frame
- Masonry
- Superior
- Composition
- Shake-Treated
- Tile
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
Mississippi Farm Bureau | $1,171 |
Foremost Insurance | $1,464 |
State Farm | $1,891 |
Nationwide | $2,031 |
Allstate | $3,282 |
Travelers | $12,273 |
Cheapest Home Insurance in Mississippi by Deductible
In Mississippi, selecting a higher deductible can translate to substantial annual savings. For those considering a $2,000 deductible, Mississippi Farm Bureau offers the best rate at $1,012 per year. However, if you're leaning towards a $500 deductible, the same company charges a slightly higher premium at $1,256 annually.
Here's how the rates stack up for different deductibles with Mississippi Farm Bureau, the cheapest provider in Mississippi:
- $2,000 deductible: Mississippi Farm Bureau at $1,012 per year
- $1,500 deductible: Mississippi Farm Bureau at $1,063 per year
- $1,000 deductible: Mississippi Farm Bureau at $1,126 per year
- $500 deductible: Mississippi Farm Bureau at $1,256 per year
It's worth noting that the deductible is what you pay before your insurance starts covering. On average, Mississippi homeowners can save about $327 annually by choosing a $2,000 deductible over a $500 one.
- 1000
- 1500
- 2000
- 500
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
Mississippi Farm Bureau | $1,012 |
Foremost Insurance | $1,132 |
State Farm | $1,581 |
Nationwide | $1,684 |
Allstate | $3,138 |
Travelers | $9,922 |
Cheapest Home and Auto Insurance Bundle in Mississippi
In Mississippi, Allstate offers the cheapest home and auto insurance with an annual premium of $2,453. Combining these insurances can unlock notable discounts.
- Allstate at $2,453 per year
- State Farm at $2,660 per year
Aside from giving you potential savings, bundling also lets you consolidate your policies, ensuring a smoother insurance experience with a single provider. For more options, check out the best Mississippi insurance bundle.
Allstate | $2,453 |
State Farm | $2,660 |
Travelers | $7,933 |
Nationwide | $9,496 |
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.