Best and Cheapest Home Insurance Companies in Mississippi (2024)
State Farm has the best home insurance in Mississippi, at $1,749 per year.
Compare Home Insurance Quotes from Companies in Mississippi
Best Cheap Mississippi Homeowners Insurance
To help Mississippi homeowners find the best rate for home insurance, ValuePenguin collected thousands of quotes and studied customer satisfaction ratings from some of the largest insurance companies across the state.
Cheap homeowners insurance in Mississippi
State Farm and Allstate have the cheapest home insurance quotes in Mississippi.
A policy from Allstate costs $1,744 per year for $350,000 of dwelling coverage. That's $1,261 per year cheaper than the state average.
The same coverage from State Farm costs $5 more, at $1,749 per year. State Farm also has excellent customer service. But it may not be available if you live near the coast.
While Allstate typically offers coverage to coastal homes, its customer service isn't as highly rated as State Farm's.
Compare Home Insurance Quotes from Companies in Mississippi
Homeowners who need less coverage can find the cheapest quotes at State Farm.
A State Farm policy with $200,000 of dwelling coverage costs $1,220 per year. That's $696 less than the Mississippi average of $1,916 per year.
Cheapest MS homeowners insurance by dwelling coverage
$200,000
$350,000
$500,000
$1 million
Company | Annual rate | ||
|---|---|---|---|
| State Farm | $1,220 | |
| Allstate | $1,309 | |
| USAA | $1,947 | |
| Farm Bureau | $2,000 | |
| Nationwide | $2,356 | |
| Farmers | $2,666 | |
$200,000
Company | Annual rate | ||
|---|---|---|---|
|
| State Farm | $1,220 | |
|
| Allstate | $1,309 | |
|
| USAA | $1,947 | |
|
| Farm Bureau | $2,000 | |
|
| Nationwide | $2,356 | |
|
| Farmers | $2,666 | |
$350,000
Company | Annual rate | ||
|---|---|---|---|
|
| Allstate | $1,744 | |
|
| State Farm | $1,749 | |
|
| USAA | $2,968 | |
|
| Farm Bureau | $3,083 | |
|
| Nationwide | $3,844 | |
|
| Farmers | $4,642 | |
$500,000
Company | Annual rate | ||
|---|---|---|---|
|
| State Farm | $2,334 | |
|
| Allstate | $2,516 | |
|
| Farm Bureau | $3,692 | |
|
| USAA | $3,927 | |
|
| Nationwide | $5,374 | |
|
| Farmers | $6,616 | |
$1 million
Company | Annual rate | ||
|---|---|---|---|
|
| State Farm | $4,059 | |
|
| Farm Bureau | $4,733 | |
|
| Allstate | $5,124 | |
|
| USAA | $7,019 | |
|
| Nationwide | $10,952 | |
|
| Farmers | $14,261 | |
What home insurance do I need in Mississippi?
Mississippi homes have a high risk of wind damage from tropical storms, hurricanes and tornadoes. Most basic home insurance policies cover wind and tornado damage. But you may have a higher wind deductible or need a separate policy if your home is near the coast.
Flooding can be a major issue for homes near the Gulf Coast or Mississippi River. Homeowners insurance doesn't cover damage caused by floodwaters. You'll need to buy a flood insurance policy to protect your home and belongings from floods.
Best Mississippi home insurance for most people: State Farm
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Editor's rating
- Cost: $1,749/yr
State Farm's cheap quotes and reliable customer service make it the best choice for home insurance in MS.
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Affordable rates
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Dependable customer service
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Great for bundling with car insurance
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Not everyone can get a quote online
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Limited coverage options
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May not offer coverage for coastal homes
State Farm has some of the cheapest home insurance rates in Mississippi.
A State Farm policy with $200,000 of dwelling coverage costs $1,220 per year. That's the cheapest rate in the state, and $696 less than the Mississippi average. A policy with $350,000 of dwelling coverage costs $1,749 per year, which is $1,256 less than the state average.
Mississippi homeowners are typically happy with the service they get from State Farm. The company earned a good score on J.D. Power's customer satisfaction survey. It also gets fewer complaints than an average insurance company of its size, according to the National Association of Insurance Commissioners (NAIC). That means you can count on State Farm to get your home fixed quickly after damage.
State Farm also has some of the cheapest car insurance rates in Mississippi. That makes it a great choice for people looking to bundle their home and auto policies with one company.
However, State Farm doesn't offer many ways to customize your home insurance policy. And it might not offer protection to Mississippi homes near the Gulf Coast. That's because of the high chance of wind damage from coastal storms and hurricanes.
Best insurance for waterfront homes in MS: Allstate
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Editor's rating
- Cost: $1,744/yr
Allstate offers affordable rates and flood insurance to homeowners along the Gulf Coast and Mississippi River.
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Low rates
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Lots of coverage add-ons and discounts
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Offers flood insurance
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Mixed customer service reviews
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Pricey auto rates make it bad for bundling
Allstate is the best choice for homeowners living along the Gulf Coast or Mississippi River. That's because it offers both home and flood insurance.
Allstate offers two types of flood insurance. You can get a government-backed policy from the National Flood Insurance Program (NFIP) or a policy from Allstate's subsidiary, Beyond Floods.
Having your home and flood insurance with one company will make your life easier if a major storm damages your home.
For example, if wind and floodwater from a hurricane damage your home, you'll be able to work with one company for both claims. If you have policies from separate companies, you would have to deal with two different claims departments and adjusters. That could make the repair process take much longer.
In addition, homeowners with expensive homes can get more coverage than an NFIP policy provides. That could be very important if your home would cost more than $250,000 to rebuild.
Homeowners can add other hard-to-find coverages to their Allstate policy as well. For instance, Allstate offers an upgrade that protects short-term rentals and Airbnbs. That can be helpful if you rent out your beach home in Mississippi.
Allstate is also one of the cheapest insurance companies in Mississippi. A policy costs around $1,744 per year for $350,000 of coverage, which is the cheapest quote in the state. Allstate charges $1,309 per year for $200,000 of dwelling coverage, which is the second-cheapest rate.
However, mixed customer reviews make it hard to predict what your experience with Allstate will be like after damage to your home. Allstate earned a below-average score on J.D. Power's customer satisfaction survey. But it has fewer customer complaints than an average company of its size, according to the NAIC.
Best Mississippi home insurance for military families: USAA
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Editor's rating
- Cost: $2,968/yr
USAA is the top-rated home insurance company in Mississippi.
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Excellent customer service
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Standard policy includes extra coverage
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Military-specific benefits
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Not the cheapest quotes
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Only available to homeowners with military ties
USAA has one of the highest scores on the J.D. Power customer satisfaction survey. USAA also gets about one-third of the complaints as an average company its size, according to the NAIC. That means USAA customers can expect a quick and fair claims process.
However, only military members, veterans and some of their family members can buy home insurance from USAA.
USAA isn't the cheapest company in Mississippi, but its rates are still affordable.
At $2,968 per year, a policy with $350,000 of dwelling coverage is $37 per year cheaper than the state average.
In addition, USAA's standard home insurance includes coverage upgrades that typically cost extra from other companies. For example, USAA will pay to fully rebuild your home, even if it costs more than your dwelling coverage limit. This is called replacement cost coverage, and it can be very pricey at other companies.
USAA also provides benefits specific to service members. This includes coverage for military-issued gear and equipment.
How much does MS homeowners insurance cost?
The average cost of homeowners insurance in Mississippi is $3,005 per year.
At $854 per year more than the national average, Mississippi is the 10th most expensive state in the country for home insurance.
Dwelling coverage | Annual cost |
|---|---|
| $200,000 | $1,916 |
| $350,000 | $3,005 |
| $500,000 | $4,077 |
| $1,000,000 | $7,691 |
Home insurance quotes in Mississippi are similar to those in other Gulf Coast states. The average rate in Louisiana is $3,255 per year, while a policy in Alabama costs $2,717 per year.
Homeowners insurance quotes in Mississippi by city
Starkville, the college town around Mississippi State, is the cheapest city for home insurance in Mississippi.
The average cost of home insurance in Starkville is $2,474 per year, which is 18% cheaper than the statewide average.
Gautier, a city on the Gulf Coast west of Pascagoula, is the most expensive city for home insurance in Mississippi.
Home insurance in Gautier costs an average of $7,298 per year. This is more than double the average cost in Mississippi. The city's location on the Gulf of Mexico means homes in Gautier have a high risk of hurricane damage.
Mississippi homeowners insurance rates by city
City | Annual rate | % from avg. |
|---|---|---|
| Abbeville | $2,722 | -9% |
| Aberdeen | $2,664 | -11% |
| Ackerman | $2,587 | -14% |
| Alcorn State University | $3,017 | 0% |
| Algoma | $2,623 | -13% |
Rates are for a policy with $350,000 of dwelling coverage.
Best homeowners insurance in Mississippi
USAA, Farm Bureau and State Farm are the best-rated home insurance companies in Mississippi.
USAA offers the best customer support in the state. However, it's only available to military members, veterans and their families.
Farm Bureau and State Farm also have excellent customer service. And State Farm's rates are some of the cheapest in Mississippi.
Top home insurance companies in Mississippi
Company |
Rating
|
Complaints
|
|---|---|---|
| USAA | Low | |
| Farm Bureau | Low | |
| State Farm | Average | |
| Nationwide | Average | |
| Allstate | Average |
What homeowners insurance do I need in MS?
Hurricanes and tropical storms regularly come through the Gulf of Mexico and impact Mississippi homes. These storms can damage homes with their high winds and floodwaters.
Mississippi also sees between 30 and 100 tornadoes per year. So home insurance that covers wind and hail damage is a necessity for most Mississippi homeowners.
Does Mississippi home insurance cover flood damage?
Most homeowners insurance policies don't protect your property against flood damage.
This is the case whether a hurricane or heavy rainfall causes the flood. Since the state is one of the lowest-lying in the country, flood damage may be a big risk for many homeowners.
You can buy flood insurance in Mississippi through the National Flood Insurance Program (NFIP) or a private insurance company.
How much is flood insurance in Mississippi?
The average cost of flood insurance in Mississippi is $1,230 per year for a policy from the National Flood Insurance Program (NFIP). The typical NFIP policy in Mississippi has $268,457 of coverage.
Many home insurance companies sell government-backed NFIP policies. But the cost of NFIP flood insurance is the same, no matter where you buy it from.
Some home insurance companies, including Allstate and USAA, also offer private flood insurance. You may want to consider private flood insurance if you have an expensive home. That's because NFIP policies only offer up to $250,000 of dwelling coverage and $100,000 of personal property coverage.
Does home insurance in MS cover wind damage?
Most home insurance policies protect against wind damage.
However, if you live near the Gulf Coast or in an area with frequent tornadoes, your policy may have a separate wind deductible. That means you'll have to pay more to fix your home after wind damage. Wind deductibles are typically between 2% and 5% of your dwelling coverage limit.
Some companies may offer you a home insurance policy without wind coverage if you live in a very high-risk area. It’s important to check your policy to make sure it covers wind damage from hurricanes and tornadoes.
Does homeowners insurance in Mississippi cover hail?
Homeowners insurance usually covers damage caused by hail.
This is true whether hail breaks a window or ruins asphalt shingles on your roof, causing a leak.
However, if the hail came from a tropical storm or hurricane, you may have to pay a separate deductible to fix the damage. Hurricane or named storm deductibles are typically a percentage of your dwelling coverage limit.
How to find the best home insurance in Mississippi
The best homeowners insurance companies have great customer service and helpful coverage at an affordable rate. To find the best company for you, start by figuring out how much coverage you need. Then, compare quotes from multiple companies and review service scores.
Decide how much coverage you need. Most standard home insurance policies come with the same basic coverage. However, some homeowners may want or need to add extra protection.
For example, Allstate offers flood insurance, which could be important if you live near the Gulf Coast or Mississippi River. It also offers coverage for short-term rentals and Airbnbs. Not all companies have these coverage add-ons available.
Shop for quotes from multiple companies. There's a difference of $2,898 per year between the most and least expensive companies in Mississippi. In addition, quotes can differ by nearly $5,000 per year depending on where in the state you live.
Companies also factor in your home's building materials and your insurance history. For those reasons, the cheapest company for you may be different than for your neighbors, family or friends.
Look at customer service reviews.
The best insurance companies take great care of their customers after an emergency. They do this by having an easy claims process and paying your claim quickly so you can fix your house and get back to normal.
On the other hand, poor service can lead to a lot of back-and-forth with the insurance company. And you could end up paying more for repairs.
You should start by reviewing ValuePenguin editor's ratings. These ratings consider customer service scores, convenience, coverage availability and overall value.
If you want to do more research, you can also look at the J.D. Power home insurance and property claims satisfaction surveys. In addition, you can look up customer complaints using the National Association of Insurance Commissioners (NAIC) complaint index.
Frequently asked questions
What is the average cost of homeowners insurance in Mississippi?
The average cost of homeowners insurance in Mississippi is $3,005 per year, or about $250 per month. That’s 40% more expensive than the national average of $2,151 per year.
Who has the cheapest home insurance in Mississippi?
Allstate offers the cheapest home insurance in Mississippi, with an average rate of $1,744 per year for $350,000 of dwelling coverage.
Does Mississippi require home insurance?
The state of Mississippi doesn't require home insurance. However, if you have a mortgage on your home, your lender typically requires you to have a policy.
How much is homeowners insurance in Gulfport, MS?
The average cost of home insurance in Gulfport is $4,081 per year. That's 36% higher than the Mississippi state average of $3,005 per year.
Methodology
To find the best cheap MS house insurance, ValuePenguin collected home insurance quotes for every ZIP code across Mississippi from the largest home insurance companies in the state. Quotes are for a 45-year-old married man with no prior insurance claims and a good credit score.
Rates include the following coverage limits:
- Dwelling coverage: $200,000, $350,000, $500,000 or $1 million
- Personal liability: $100,000
- Medical payments: $5,000
- Deductible: $1,000
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurance company filings and should be used for comparative purposes only. Your own quotes may be different.
ValuePenguin ranked each company's customer service scores by comparing the National Association of Insurance Commissioners (NAIC) complaint index, J.D. Power's home insurance customer satisfaction rankings and our ValuePenguin editor's ratings.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.