Best & Cheapest Homeowners Insurance in Mississippi April, 2024

Nationwide provides the most affordable home insurance for residents in Mississippi, with an average yearly premium of $1,516.

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Updated: 19 March 2024
Written by
Bob Phillips
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In our thorough evaluation of home insurance providers in Mississippi, Nationwide emerges as the most affordable option, with an average annual rate of $1,516. However, the best insurer for you may vary depending on your specific circumstances.

For instance, if you have a lower credit score, Allstate offers the most economical choice, with an average yearly premium of $2,721. Conversely, for owners of older homes, State Farm stands out with competitive rates of $2,264 per year for comprehensive coverage.

If you own a newly constructed home, State Farm once again presents the most cost-effective solution at $1,075 per year. Those with a history of claims might find an affordable option with Allstate at $2,862 per year.

Our comprehensive analysis at Insuranceopedia aims to assist you in finding the ideal fit for your home insurance needs. We assess customer ratings, analyze personal experiences, and provide comparison charts to equip you with all the necessary information for making an informed decision.

How much is homeowners insurance in Mississippi?

Nationwide offers the most budget-friendly home insurance option for Mississippi residents, with an average annual cost of $1,516. Following behind, State Farm and USAA have annual premiums of $3,009 and $2,060, respectively. Farmers is slightly more expensive, with an annual premium of $3,308. However, Travelers stands out with a significantly higher annual premium of $5,182.

As mentioned below, insurance rates in Mississippi are slightly below the national average.

Area Average Monthly Rate
National $1,820
Mississippi $1,737

Car insurance rates vary and aren’t fixed, influenced by several factors. Your driving history plays a crucial role; a clean record results in lower premiums compared to one with traffic violations or accidents. The type of vehicle you own matters too, with high-performance or luxury cars typically commanding higher insurance costs.

Where you live is another factor, as urban areas tend to have higher rates due to increased risk. Additionally, your age and marital status can affect your premiums.

Cheapest Homeowners Insurance in Mississippi 2024

Cheapest Home Insurance, Mississippi, 2024

Our Methodology

To find the most cost-effective home insurance rates in Mississippi, we conducted a comprehensive analysis using data from multiple home insurance review sites. Some of these sources evaluated rates from public filings obtained through Quadrant Information Services. The review is based on an average of these rates, but it's essential to understand that each company's rates can change frequently and will vary depending on your individual circumstances. Furthermore, the overall rating considers my subjective opinion, which is informed by fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

66

Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest homeowners insurance in Mississippi

In Mississippi, Nationwide is the most economical choice for homeowners insurance, providing an average annual rate of $1,516.

Company Annual Premium
Nationwide $1,516
USSA $2,060
State Farm $3,009
Farmers $3,308
Travelers $5,182

The cost of your insurance policy is influenced by several factors, such as your location, the value of your home, and your claims history. Nationwide provides a well-balanced option that combines affordability with comprehensive coverage.

Cheapest Homeowners Insurance If You Have Poor Credit

For individuals with a poor credit score, Allstate offers the most cost-effective solution, with an average annual rate of $2,721.

Insurance Company Average Annual Premium
Allstate $2,721
USSA $3,458
State Farm $5,160
Farmers $5,134
Foremost $6,641

Insurance companies consider your credit score a key factor in determining insurance rates because it helps them assess risk. Allstate recognizes the importance of providing fair coverage for everyone, regardless of their credit history.

Cheapest Homeowners Insurance In Mississippi If You Have an Older Home

Homeowners with older homes can find the most budget-friendly rates with State Farm, averaging $2,264 per year.

Insurance Company Average Annual Premium
State Farm $2,264
USSA $3,007
Farmers $3,025
Foremost $3,455
Travelers $6,778

Older homes often come with unique risks and maintenance challenges, which can lead to higher insurance costs. State Farm addresses these concerns by offering competitive rates and comprehensive coverage specifically tailored to meet the unique needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

Owners of newly constructed homes can benefit from an affordable solution with State Farm, which offers an average annual rate of $1,075.

Insurance Company Average Annual Premium
State Farm $1,075
Mississippi Farm Bureau $1,097
Nationwide $1,176
Allstate $2,459
Travelers $2,945

Newly constructed homes often have distinct coverage needs compared to older homes, and State Farm specializes in providing affordable policies tailored to these specific requirements.

Cheapest Home Insurance In Mississippi for a History of Claims

For homeowners with a history of claims, Allstate offers an affordable solution with an average annual rate of $2,862.

Insurance Company Average Annual Premium
Allstate $2,862
State Farm $3,141
Nationwide $3,408
USAA $3,676
Travelers $7,390

Having a history of claims can lead to higher premiums, as it may indicate increased risk for insurers. Nevertheless, Allstate aims to provide reasonable rates for individuals with past claims, offering a second chance for affordable coverage.

Best Homeowners Insurance Companies in Mississippi

Selecting the right homeowners insurance isn’t just necessary; it’s a strategic choice. Mississippi, with its rich history, boasts homes as diverse as its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates is crucial.

To simplify your decision-making process, we’ve compiled a list of the top homeowners insurance companies in Mississippi. These companies were evaluated based on criteria like annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Refer to our comparison chart below to find the perfect match for your home insurance needs.

  Company Annual Premium
1. Nationwide $1,516
2. Farm Bureau $1,835
3. USSA $2,060
4. State Farm $3,009
5. Foremost $3,996
6. Allstate $1,380
7. Farmers $3,308
8. Travelers $5,182

Average Home Insurance Rates by Zip Codes

Homeowners insurance prices in Mississippi can differ greatly based on the particular zip code. Here are tables showing rates for various zip codes in Mississippi, including the five least and most costly ones in the area for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
39201 $3,000
39502 $2,384
38803 $2,509
38402 $2,909
38637 $2,414

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
38671 $2,380
39502 $2,384
38803 $2,509
38801 $2,492
38637 $2,414

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
39201 $3,000
38402 $2,909
39302 $2,702
39056 $2,597
38802 $2,602

Average Home Insurance Rates in Mississippi by Deductible Amount

The deductible you opt for in your homeowners insurance policy can have a significant impact on premium rates in Mississippi. Here’s a breakdown of how average home insurance rates vary based on different deductible amounts:

Deductible Annual Rate
$500 $2,278
$1,000 $2,131
$2,000 $1,877

Average Home Insurance Rates in Mississippi By Coverage Amount

Dwelling coverage, which represents the maximum amount your insurance provider will pay for rebuilding or repairing your home in case of damage or destruction, is a crucial factor that affects your premium.

Here is a comparison chart showing the average annual homeowners insurance premiums for different dwelling coverage amounts:

Dwelling Coverage Amount Average Annual Premium
$200,000 $1,730
$250,000 $2,144
$300,000 $2,690
$350,000 $3,012
$400,000 $3,309

Average Home Insurance Rates in Mississippi by Company

Here is a comparison table displaying annual premiums from some of the leading providers in Mississippi:

Company Annual Premium
Nationwide $1,516
Farm Bureau $1,835
USSA $2,060
State Farm $3,009
Foremost $3,996
Allstate $1,380
Farmers $3,308
Travelers $5,182

How Much is Homeowners Insurance for Other Cities in Mississippi?

Below is a detailed comparison chart displaying the most affordable companies and their annual premiums across different cities in Mississippi:

City Annual Premium
South Haven $2,397
Tupelo $2,534
Meridian $2,467
Oxford $2,396

Getting Online Homeowners Insurance Quotes in Mississippi

Websites like Insuranceopedia streamline the process of finding the best coverage for your unique needs. By providing quick online quotes from top-rated insurers, they make it easy to compare rates.

Just input your information, and Insuranceopedia will present you with a range of options tailored to your needs. This simplifies the task of choosing a policy that offers great value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in Mississippi?

Nationwide provides the most affordable homeowners insurance in Mississippi, with an annual premium of $1,516.

What is the average cost of home insurance in Mississippi?

On average, homeowners insurance in Mississippi costs around $1,737 per year.

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