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Edited by John Leach
Last Updated February 28, 2022
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Jackson, MS Homeowners Insurance
Jackson is the capital of Mississippi, and the Jackson metro area is home to nearly 20 percent of the state’s entire population. Jackson is full of history and plenty of museums to match. Whether you’re interested in art, civil rights, natural science, sports, government, agriculture—you name it, there’s a museum for it in Jackson. If perusing history isn’t your thing, you can always find an adventure in Jackson ’s parks and nature trails or catch live music and great food at the city’s local restaurants.
The City with Soul lives up to its name—there’s no doubt about that. But owning a home in Jackson is about more than just the city’s amenities, no matter how many or how great they are. From tornadoes to hurricanes to the city’s high crime rates, it’s important to protect your property with home insurance.
Insurify makes finding affordable home insurance easier than ever. With Insurify’s comparison tools, you can see your Jackson home insurance companies and quotes in one place in just a few minutes.
Cheapest Home Insurance Companies in Jackson
For homeowners in Jackson, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Jackson. The following are the best insurance rates from carriers that offer homeowners insurance in Jackson.
|mississippi farm bureau||$1,371|
How to Find Cheap Home Insurance in Jackson
Buying a home in the Jackson metro area is going to cost you roughly $150,000, and with Jackson ’s high property crime rates and risk of tornadoes and hurricanes, you’re going to want to make sure your home is protected from any peril that could come your way.
Mississippi home insurance can protect your home and family from risks like natural disasters and even vandalism and theft. With a homeowners policy, you never have to worry about paying for expensive home repairs or replacing your personal belongings after a disaster. In fact, homeowners insurance even includes liability coverage and, if you ever have to leave your home for repairs after a storm, your insurance can help cover additional living expenses until your family can move back into your restored home.
Your policy and additional coverage options should be catered to your insurance needs, so keep reading for a full guide on Jackson home insurance.
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Cheapest Home Insurance in Jackson by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in Jackson costs $2,302 annually, and the median home value is $151,913.
The cost of living in Jackson is generally lower than the national average, but if the cost of your insurance products has you stressed, there are plenty of ways to lower your premiums.
Comparing home insurance quotes with companies like Allstate, Foremost Signature, and Mississippi Farm Bureau can help make sure you’re getting the best rates. No matter which home insurance companies you’re considering, make sure to get a quote from several providers before purchasing a policy.
|Average Home Cost in Jackson||Average Annual Insurance Premium in Jackson|
Average Annual Home Insurance Premium in Jackson by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cheapest ZIP Codes in Jackson for Home Insurance
The cost of homeowners insurance in Jackson is slightly higher than the Mississippi average but is still significantly lower than premiums in coastal cities like Gulfport and Biloxi.
This difference exists because home insurance prices are determined based on ZIP code–specific variables like your neighborhood’s crime rates and natural disaster risk. Even the number of home insurance claims filed in your area can affect your home insurance quotes.
Rates in Jackson can seem relatively high or low depending on which Mississippi cities you compare them to, but your homeowners premium will depend on the specific location of your home.
Home Insurance Coverage Types in Jackson
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Mississippi city level guides, check out these below.
Mississippi’s Wind and Hail Deductible
Mississippi is one of 19 states that require homeowners to pay a separate wind and hail deductible to receive coverage for perils like windstorms, hail, tornadoes, and hurricanes.
Insurers can offer this deductible as wind and hail coverage, a named storm deductible, or a hurricane deductible. Your policy will list the circumstances when the deductible applies to your policy, and these typically go into effect when the state is under a hurricane watch.
If your home sustains hurricane, wind, or hail damage, simply file your insurance claim, and your insurance agency will subtract your deductible from your reimbursement.
For Jackson homeowners who can’t secure wind coverage from private insurers, the Mississippi Residential Property Insurance Underwriting Association helps provide high-risk homes with the additional coverage and protection they need.
Jackson Flood Insurance
Mississippi ’s location along the Gulf Coast, paired with Jackson ’s relatively flat landscape, high annual rainfall, and proximity to the Pearl River, leaves Jackson homes vulnerable to flood damage from hurricanes, rainfall, and river overflow. Homeowners policies list flood damage as an exclusion, so your Mississippi home insurance policy alone won’t help you pay for expensive flood repairs.
While almost every homeowner can benefit from a flood insurance policy, securing flood coverage is even more important for Mississippi residents. The city of Jackson participates in the Federal Emergency Management Agency’s National Flood Insurance Program, which means even homeowners in high-risk flood zones are eligible for coverage.
You can talk to your insurance agent about your private flood insurance options or purchase a policy directly through the NFIP.
Finding cheap home insurance in the City with Soul shouldn’t crush yours. Check out Insurify’s guide to Jackson homeowners’ most frequently asked questions.
How to Find the Cheapest Home Insurance in Jackson
Homeownership in the Magnolia State is full of risks, but Insurify is here to make your insurance search risk-free. Compare your Jackson home insurance options using Insurify to save time and money, and you’ll be back to enjoying your Jackson home with peace of mind in no time.
Frequently Asked Questions
When high winds and low precipitation mix, Mississippi can experience devastating wildfires. Jackson has stayed relatively safe from the flames, and your homeowners coverage includes fire damage, so you are most likely covered. If you’re worried about your risk or want additional protection, talk to your local agent to see if fire insurance is an option and whether the protection is worth the cost.
The Mississippi Insurance Department recommends installing smoke detectors, deadbolt locks, and a home security system, along with strengthening your credit score, bundling your home and auto insurance policies, and increasing your deductible to save on annual premiums. While all of these options can help you pay less for your insurance costs, talk to your insurer about additional discount options before increasing your deductible. Remember, the less you pay for your premiums now, the more you’ll pay for repairs later.
Manufactured home insurance policies (also called HO-7 policies) often provide similar coverage to special form homeowners policies but are catered to the needs of mobile and manufactured homes. This coverage usually includes the same dwelling coverage, other structures coverage, and liability insurance as a typical homeowners policy, but check to see what your specific policy covers and excludes before relying on coverage you don’t have.
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