Average Costs and Cheapest Homeowners Insurance Companies in Mississippi

Along with being the cheapest company overall, Travelers is the most affordable insurer for those with a new home and those who have a pool. If you have an expensive home with a high replacement cost, you can get the cheapest deal from AllState. Homeowners with bad credit should consider Farmers, the cheapest insurer in Mississippi for this category.

To help you find the cheapest insurer in the state, we analyzed thousands of quotes from different insurers in Mississippi.

MoneyGeek used costs and service measures to break down the best homeowners insurance providers in Mississippi if you want to balance cost and quality.

To help you find low-cost homeowners insurance in Mississippi, MoneyGeek averaged thousands of quotes from different providers. Out of the insurance providers evaluated, Travelers, at $754 per year, is the most affordable company in the state for a baseline coverage of $100,000.

Here’s a rundown of the cheapest companies for different baseline coverages:

• Cheapest for $100,000: Travelers
• Cheapest for $250,000: Travelers
• Cheapest for $500,000: AllState

Toggle the table below to see how the costs for a certain dwelling coverage change based on your needs. How much dwelling coverage you need will greatly depend on the replacement cost of your home.

Home insurance costs can change depending on how much dwelling coverage you desire. The average cost of home insurance in Mississippi is $1,377 for a baseline dwelling coverage of $100,000. Dwelling coverage of $3 million costs around $30,603, which is a difference of $29,226.

The most significant factor that determines your home insurance rates is the dwelling level. This means that the higher the cost of replacing your home, the more coverage you will need.

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.

You can adjust the dwelling coverage limits, deductible, and other limits to see how the average cost in Mississippi changes based on your needs.

MoneyGeek gathered thousands of quotes in Mississippi for different dwelling coverages to help you find the cheapest home insurance company in the state.

For homeowners with baseline coverage of $2 million, the two cheapest homeowners insurance companies are:

• Allstate: $11,385 per year
• Travelers: $14,534 per year

USAA ranked the most affordable option for those with an expensive home. If you are an eligible military member, you may want to look into this option.

If you have an expensive home, you can expect different rates based on your coverage limits. It is best to compare quotes from different providers to get the best deal.

If you have a newly constructed house, you may expect a lower premium as the cost to replace materials is relatively lower. MoneyGeek averaged thousands of quotes based on a sample profile of a homeowner needing $250,000 in dwelling coverage with a home built in the year 2015. We found that the most affordable homeowners insurance in Mississippi are from:

• Travelers: $1,033 per year
• Allstate: $1,249 per year

For veterans and active members of the military, USAA is one of the cheapest options for a home with $250,000 dwelling coverage.

The rates can vary by $637 lower for newer homes in Mississippi versus a home that was built in 2000.

The numbers for these 2000 homes vary from the first section due to a different ZIP code collection process.

The average home insurance cost for newer homes in Mississippi is $2,018 per year while houses built in 2000 costs around $2,655 per year to insure. Older homes are more expensive to insure because they need materials that are sometimes hard to find. Additionally, older materials are typically less resistant to weather damage. Wear and tear can also be a factor and can increase the risk of fire hazards.

Having a pool is a luxury; however, you need to know that it can also affect your homeowners insurance. MoneyGeek collected thousands of quotes to help you find the most affordable insurer for homes with pools in Mississippi.

If your baseline dwelling coverage is $250,000, these are the cheapest homeowners insurance in Mississippi for homes with pools:

• Travelers: $1,480 per year
• Allstate: $1,706 per year

Installing a pool in your property is great, but know that it can lead to higher premiums. Not all insurance companies cover your pool in a typical coverage limit because some insurers may see it as a different structure that needs its own coverage.

In some states, having a pool in your home can slightly affect your annual insurance premium. However, in Mississippi, you can expect to pay around $2,655 per year, regardless of whether or not you have a pool. Keep in mind that your premium may still vary depending on other factors like location and coverage limits.

MoneyGeek analyzed thousands of home insurance quotes from the cheapest insurers in Mississippi for homeowners with a poor credit score. We found that the most affordable insurance with a dwelling coverage of $100,000 if you have a poor credit rating are from:

• Farmers: $1,496 per year
• Nationwide: $3,005 per year

USAA ranked second in affordability if you have poor credit. Eligible military members may want to look into this option.

If you have bad credit, you might have to pay higher insurance costs. This is because some companies use a credit-based insurance evaluation system to determine your risk and how likely you will file a claim.

Insurers in Mississippi calculate home insurance premiums based on different factors. Your credit background is among these factors. Those who have a poor credit score usually pay more than those who have a good credit rating.

In Mississippi, the average cost of home insurance for someone with a good credit score is around $2,628 while the average annual rate for those with a poor credit score is $5,733. This is a $3,105 difference.

The cost of homeowners insurance depends on where on you live in Mississippi. MoneyGeek discovered that the cheapest home insurance for residents of Jackson is Travelers at around $1,377 per year. This is $623 more expensive than the city’s average rates across all companies.

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 will 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.

If you want to obtain an insurance quote anonymously, you can use MoneyGeek’s Mississippi home insurance calculator, which compiles thousands of quotes from different insurers across the state.

MoneyGeek analyzed homeowners insurance premiums from seven 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.