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Mississippi Homeowners Insurance Quotes - Best and Cheapest (2022)

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Insurify Staff

By: Insurify Staff

Last Updated February 25, 2022

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Mississippi Average Cost of Homeowners Insurance Rates (2022)

According to 2021 rates, the average cost of homeowners insurance in Mississippi is $1530 per year and $128 per month. Mississippi homeowners insurance rates are $132 per year more then the national average and about 9% more annually. When compared to the other US states that makes the cost of homeowners insurance in Mississippi the 15th most expensive in the country, based on 2021 data.

For shoppers, the best way to find a homeowners insurance policy in Mississippi is to evaluate all of the quotes from individual insurance providers and then decide on the policy that fits your requirements and budget level. Fortunately finding the right homeowners insurance coverage is easy with a tool like Insurify.

Insurify provides easy and fast home insurance quote comparisons for all kinds of homeowners nationwide. Insurify has helped thousands of customers receive accurate homeowners quotes for your property in Mississippi in minutes.

Mississippi Average Homeowners Insurance Rates
Average Cost Per Month$128
Average Annual Premium$1530
State Rank (Most Expensive)15th

Cheapest Insurance Companies for Homeowners in Mississippi (2022)

For homeowners in Mississippi, 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 Mississippi. The following are the best insurance rates from carriers that offer homeowners insurance in Mississippi.

Cheapest CompaniesQuotes
Allstate$1,306
mississippi farm bureau$1,371
Farmers$1,781
Travelers$2,222
Nationwide$2,252

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How to Get Affordable Home Insurance in Mississippi

The Magnolia State's real estate is heating up. Over the last year, home appreciation rates have been on an upward trend of about five percent. Whether you just moved into your new home in Mississippi or lived there your whole life, the equity you're building is sure to save you some change in the long run. But there are more ways to save. That's where having an affordable home insurance policy comes in.

Your property needs protection so it can serve you for generations to come. Insurance costs cover damages resulting from natural disasters, theft, vandalism, and more. Having the right coverage options and additional home insurance coverage will not only protect you and your family but also protect your wallet in severe cases.

Thankfully, there are ways to save, from the Mississippi River Delta and Jackson to Southaven and Biloxi. You're on your way to the best and cheapest homeowners insurance in Mississippi.

Please keep reading for our full guide on getting the most accurate and affordable Mississippi home insurance.

Homeowners Insurance Quotes in Mississippi by Company

As of 2021, the average home insurance premium in Mississippi costs $2,302 annually, and the median home value is $127,539.

Living expenses and home costs are 15 percent cheaper than other states, but Mississippi home insurance prices are above the national average. Paying the high price of home insurance in Mississippi can seem like a burden since you still need to provide for yourself and take care of your family. Thankfully, we have the guidance to get you on your way to saving on Mississippi home insurance.

Average Annual Homeowners Insurance Premium in Mississippi by Company

Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage

Allstate
$1,306
Mississippi Farm Bureau
$1,371
Farmers
$1,781
Travelers
$2,222
Nationwide
$2,252
USAA
$2,300
Foremost
$2,306
Metropolitan
$3,300
State Farm
$3,874

Home Insurance Rates in Mississippi by City

Homeowners insurance costs in Mississippi will never be the same for you and your neighbor. Property type and other details differ from property to property. Along with property details, there are ZIP code–specific details like nearby claim volumes, property costs, crime rates, and natural disaster frequency. All factor into whether you pay more or less on annual premiums. It will all boil down to your neighborhood to figure out how much you pay annually.

Believe it or not, it will all come down to the town you live in to get the most accurate Mississippi rates. Rates can be low or high compared to the national average. Below are the most and least expensive ZIP codes for Mississippi home insurance.

CityMedian Home Price
Oxford$201,996
Starkville$179,418
Picayune$118,476
Ripley$90,597
Aberdeen$84,791
Clarksdale$60,619

What Does Home Insurance Cover in Mississippi?

There are several types of home insurance. Specific terms of insurance policies may vary by state, 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:

    • Natural disasters (storms, fires, wind lightning, volcanic eruption)
    • Explosions
    • Theft
    • Damage from vehicles
    • 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
    • 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.
    • 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 policies.
    • 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 to 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.

Mobile Home Insurance in Mississippi

There are close to 300 mobile home parks in Mississippi. If you are one of the many living in a mobile home in Mississippi, you will need special Mississippi mobile home insurance . Your mobile home could sustain damage from perils like hail, fire, theft, or vandalism. And if you have a mobile home policy, the costs of replacement and repairs are covered. Also, structures attached to your lot, like a patio or a garage (including personal belongings), are protected.

Pricing for Mississippi mobile home insurance can vary from $250 to $1,300 and up annually. Like regular home insurance, it all depends on crime rates, natural disaster claims in your area, insurance carriers, and your ZIP code. Homeowners insurance companies such as Meridian, Liberty Mutual, State Farm, and USAA offer mobile home insurance in Mississippi. Mobile home insurance policies include two basic kinds of coverage: personal liability coverage and physical damage coverage. An HO-7 policy, which is identical to an HO-3 policy, is designed for manufactured and mobile homes and protects the home when stationary. Note that a different policy is required for mobile homes in transit. Talk to your insurance agent about insurance products for Mississippi mobile home insurance .

Natural Disasters & Flood Insurance in Mississippi

Mississippi residents know very well that natural disasters are common for the state. Being in such close quarters to the Mississippi River and the Gulf Coast makes rising water levels and hurricanes a threat to homes. Even snowstorms happen in the South, and Mississippi is no exception. In December 1963, a snowstorm made highways in Jackson icy and dangerous and brought over a foot of snow to several parts of the state.

Flooding is the most common disaster in Mississippi. Unfortunately, the standard homeowners insurance policy does not cover damage due to flooding, so you will need add-ons in special flood damage cases. However, there are a couple of programs that could help in the cleanup process:

National Flood Insurance Program

The National Flood Insurance Program (NFIP) is an aid for insurance to reduce the horrendous impact of flooding. The Federal Emergency Management Agency (FEMA) manages the NFIP, and over 60 insurance companies deliver the program directly. Ask your local agent about your flood insurance needs.

Home insurance is no hard task when you have Insurify on your side. Thankfully, you can use our comparison tool to find quotes from the best home insurance companies and get the right coverage. Try it out!

Mississippi Farm Bureau Federation

The Mississippi Farm Bureau Federation (MFBF) serves over 177,000 families in 82 counties. As the most extensive and strongest general farm organization, MFBF is voluntary, non-governmental, and non-partisan, offering solutions for flooding or other natural disasters. Insurance is also available through the MFBF, providing local agents and competitive rates for those who qualify. Especially if you own a farm or crops, the MFBF may be able to assist in times of need.

Special Home Insurance Situations in Mississippi

Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Mississippi.

Cheapest Home Insurance for Houses Near Fire Department in Mississippi

If your home is within a certain distance from a fire department or fire hydrant your rates may decrease. The same applies for the opposite. If your home is far from fire safety, you may pay more for homeowners insurance.

Insurance CompanyAverage Annual Premium
Allstate$1,227
Farmers$1,790
State Farm$3,874
Travelers$2,222

Cheapest Home Insurance for Houses Less Than 20 Years Old in Mississippi

The age of your home and its major systems may affect the policy rate you're quoted by insurance companies

Insurance CompanyAverage Annual Premium
Foremost$2,305
Metropolitan$3,300
Nationwide$1,891
USAA$1,866

Best homeowners insurance rates this side of the Mississippi.

How to Find the Cheapest Home Insurance in Mississippi

Whether you live near the Mississippi River Delta or the Gulf Coast, living in Mississippi is easy. From catching an Ole Miss game to having a delicious dinner of catfish and fried green tomatoes, Mississippi residents are living the good life. Thankfully, Mississippians can get the best homeowners insurance at cheap prices by comparing quotes on insurance policies.
Use Insurify to compare the best home insurance providers for your property in Mississippi. Our comparison tools make homeowners insurance shopping (and saving) simple so you can be on your way to enjoying your newly insured home in no time.

Mississippi Homeowners Insurance FAQ

  • Bundling, also known as a multi-policy, is when insurance companies combine one or more insurance products like home insurance and auto insurance. The perk that comes with bundling is that you could get insurance discounts on your rates, putting more money in your pockets.

  • Mississippi home insurance rates often cost more when claim numbers are higher in your area. Because of the number of claims associated with natural disasters and flooding, premiums tend to be higher in Mississippi, driving up the average cost.

  • Flood insurance is not included with Mississippi homeowners insurance. Additional flood insurance will be needed, especially if you live in a flood zone. Check with your local agent to learn more about the National Flood Insurance Program.

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Methodology

The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews. 

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.

Insurify Staff
Insurify Staff

Content Specialist at Insurify

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