5/5
Affordability
5/5
User Satisfaction
5/5
Financial Stability
Securing the right renters insurance ensures that your property is covered in case of theft or unexpected damage. MoneyGeek ranked the top renters insurance companies in Mississippi to help you find quality coverage at affordable costs. We looked at factors such as customer service, financial strength and affordability when ranking these companies. Compare quotes from the state’s best insurers to find the coverage you need at a great rate.
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
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When choosing a renters insurance policy, many Mississippians consider cost as the most crucial factor. The cheapest companies in the state for most people are Nationwide and Metlife, both with an average of $172 per year for renters insurance.
A policy from USAA costs only $64 annually on average and is an excellent option for eligible renters since it contains replacement cost coverage. However, USAA’s policies are only available for military personnel and their families.
These average renters insurance premiums are based on quotes sourced from various ZIP codes across Mississippi for a policy with $20,000 personal property coverage, $100,000 liability coverage and $500 as the deductible.
Personal Property Coverage:
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City | Cheapest Company | Average Annual Premium |
---|---|---|
Jackson, MS | USAA | $64 |
Jackson, MS | MetLife | $172 |
Jackson, MS | Nationwide | $172 |
Jackson, MS | State Farm | $217 |
Jackson, MS | Allstate | $298 |
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
Besides the cost of renters insurance, policyholders should have confidence that their insurer can provide prompt and effective service if the worst happens.
MoneyGeek ranked renters insurance providers in Mississippi based on unique pricing data, customer service metrics from J.D. Power and financial stability scores from AM Best. According to these criteria, Nationwide offers the best renters insurance in Mississippi for most people, with a score of 84 out of 100, followed by MetLife at 83.
For military members who qualify for USAA insurance, they scored a perfect 100 points.
USAA offers the cheapest and most comprehensive coverage in Mississippi for military personnel and their families. Policyholders can add flood, earthquake and identity theft coverage to their plans at an additional fee. They can also get coverage for moving and storage, a provision that is not offered by any other insurer in the state.
Nationwide is the top renters insurance provider in Mississippi for non-military personnel. Its standard insurance policy covers incidents such as fire and theft. Additionally, policyholders can pay extra to get their cameras, firearms, jewelry and other valuables covered. Nationwide offers its customers various money-saving options, like discounts for those who combine renters insurance with car insurance. Policyholders whose property has fire, burglar and smoke alarms get a discount of up to 15%. Prospective customers can get quotes easily through the company’s online tool.
MetLife provides identity theft protection to all its policyholders at no additional charge. This means that the company handles issues relating to falsified tax returns, email account hacking and fraudulent bank accounts on behalf of renters. Renters can get coverage for electronics, musical and sports equipment and other valuables at an extra cost. The company features flexible claims submission and premium payment plans.
State Farm’s standard renters insurance coverage incorporates weather and non-weather occurrences like theft. The insurer also provides various customization options for additional incidents like water damage, earthquakes and other events that are not typically covered by other companies. Policyholders get a discount for installing burglar alarms and smoke sensors in their homes. Quotes can be obtained easily through the State Farm website.
Allstate features above-average customer service and allows renters to add coverage for identity theft protection and floods to their plans. Senior policyholders over 55 and those with security systems installed in their homes benefit from the company’s discount program. The insurer has a mobile app that allows renters to create a log of their property and determine how much coverage they need.
In Mississippi, the largest renters insurance providers based on market share include State Farm with 26.09%, Southern Farm Bureau (15.69%), Allstate (8.28%), Nationwide (7.13%) and Liberty Mutual (7.12%). The five companies make up over 64% of the state’s renters insurance policies.
Getting your policy from a large insurer gives you the confidence that the company will pay out your claims as required.
renters insurance is equal to the average.
The average cost of renters insurance in Mississippi is $215 per year, which exceeds the national average by $55. It is important to note that these rates are for a policy with personal property coverage of $20,000, liability coverage of $100,000 and a deductible of $500.
Renters in the state can save money by comparing renters insurance quotes from various providers. For instance, you save $126 per year simply by choosing the state’s lowest-priced carrier instead of purchasing similar coverage from Mississippi’s costliest provider.
How much you pay every month as your renters insurance premium depends on various factors, including the coverage type, your credit score and your deductible. Make sure you consider these factors when shopping around for cheap renters insurance in Mississippi.
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
Renters insurance can help you protect your property at an affordable rate. In Mississippi, 31% of the population live in rentals. The average monthly rental cost in the state is $777. A standard policy that offers personal property coverage of $20,000, liability coverage of $100,000 and a deductible of $500 costs an average of $18 per month, which is only 2.3% of the monthly rent in the state.
While purchasing renters insurance in Mississippi, ensure that you understand what your policy covers. Most companies provide only standard plans that include coverage for personal property, liability insurance, medical payments and additional living expenses. Certain insurers also offer additional coverage for valuables and identity theft protection.
Insurers in Mississippi may also offer coverage for damages caused by common natural disasters like thunderstorms, tornadoes, hurricanes and wildfires.
Renters insurance companies in Mississippi provide coverage for many unexpected events and damages. However, their policies may not protect you in all situations, including the following:
Before purchasing your renters insurance, read through the guidelines to understand what it covers. Consult your agent if you have any questions or concerns.
Ensure you're getting the best rate for your renters insurance. Compare quotes from the top insurance companies.
MoneyGeek analyzed renters insurance premiums from five of the top insurance companies in Mississippi provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Mississippi. Quotes were gathered for policies with personal property coverage of $20,000, $50,000 and $100,000, liability coverage of $100,000 and a deductible of $500.
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