Best Mississippi Homeowners Insurance Quotes (2024)

Mississippi Farm Bureau offers some of the cheapest homeowners insurance policies in Mississippi, with annual premiums starting at $2,110 for $300,000 in dwelling coverage.

Christy Rakoczy
Written byChristy Rakoczy
Christy Rakoczy
Christy Rakoczy

Christy Rakoczy has been a personal finance and insurance writer for over a decade. Her work has been published on USA Today, MSN, Yahoo Finance, Credit Karma, Forbes Advisor, and more. Christy has a JD from UCLA School of Law and previously worked as a data analyst for Blue Cross and as a paralegal studies instructor before transitioning to writing full time.

Chris Schafer
Edited byChris Schafer
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

Featured in

media logomedia logomedia logomedia logo
Andrew Huang
Data reviewed byAndrew Huang
Headshot of Andrew Huang, Directory of Analytics at Insurify
Andrew HuangVP, Marketing & Analytics
  • Chartered financial analyst

  • 12+ years in data analysis and marketing

Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

Featured in

media logomedia logomedia logo

Updated July 2, 2024

Why you can trust Insurify: Comparing accurate insurance quotes should never put you at risk of spam. We earn an agent commission only if you buy a policy based on our quotes. Our editorial team follows a rigorous set of editorial standards and operates independently from our insurance partners. Learn more.

The average cost of homeowners insurance in Mississippi is $4,312 per year for $300,000 in dwelling coverage, according to Insurify data. Compare this with the national average cost of a $300,000 policy coming in at $2,377, and Mississippi residents pay more than many others across the nation.

Mississippi’s weather plays a part in these high rates, and Mike Chaney, the state’s insurance commissioner, attributes the high cost of home insurance in the Magnolia State to hurricane, wind, and tornado threats.[1]

While premiums are higher than average, it’s still possible for Mississippi residents to find affordable coverage. Here’s how.

Quick Facts
  • Mississippi Farm Bureau, USAA, and Nationwide are three of the cheapest home insurance companies in Mississippi.

  • Insurers are exiting coastal Mississippi counties due to elevated weather-related risks.[2]

  • Mississippi has experienced record levels of tornadic activity in recent years, including 76 tornadoes in 2021.[3]

Best home insurance companies in Mississippi

Many home insurers offer affordable and comprehensive coverage in the Mississippi area. But no one company will be right for all homeowners, as insurers price policies differently and offer different coverage options.

Here, you can see some of the best home insurance companies in the state, alongside customer bases who may benefit most from a particular company’s offerings.

Insurance CompanyIQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Annual PremiumBest For
Mississippi Farm BureauN/A$2,110Cheapest rates
USAA8$3,027Military members
Nationwide8.4$3,397In-person support
Allstate8.2$3,582Coastal residents
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Cheapest rates: Mississippi Farm Bureau

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$172/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$234/mo

Mississippi Farm Bureau’s average premiums are less than half of what some other insurers charge in Mississippi. The insurer also provides ample opportunities to earn discounted coverage, such as a new-house discount and a claims-free discount.

Pros
  • Mobile app available

  • Below-average number of complaints with the National Association of Insurance Commissioners (NAIC)

Cons
  • Coverage only available to Farm Bureau members

  • Fewer types of add-on coverage than some competitors

Best insurer for veterans and servicemembers: USAA

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.4/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
880
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$203/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$298/mo

Coverage from USAA is only available to U.S. military members and veterans, as well as pre-commissioned officers, spouses, and children. Veterans make up 6.5% of Mississippi’s population, which is higher than the national average of 6.2%.[4]

Mississippi is also home to numerous military bases, including the Keesler and Columbus Air Force bases, so many state residents can take advantage of the affordable prices and top-notch customer service USAA offers.

Pros
  • Above-average customer satisfaction rating in J.D. Power’s 2023 U.S. Home Insurance Study

  • Cheaper premiums than many competitors

Cons
  • Only servicemembers, veterans, and their families are eligible for USAA membership

  • Above-average number of complaints, according to the NAIC

Best insurer for in-person support: Nationwide

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.7/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
815
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$268/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$448/mo

Nationwide has a robust network of independent insurance agents, including 50 different agents offering in-person support throughout the state of Mississippi. This is more than double the number of agents many competitors provide.

Ready access to in-person support from an insurance agent is one reason Nationwide ranks higher than some competitors in J.D. Power’s 2023 U.S. Home Insurance Study.

Pros
  • In-person customer support available throughout the state

  • Credit card coverage is standard, and more add-ons are available than with some competitors

Cons
  • Above-average number of complaints with the NAIC

  • Higher premiums than many competitors in Mississippi

Best insurer for coastal residents: Allstate

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.9/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
833
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$198/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$303/mo

Allstate is an ideal choice for residents of Mississippi’s coastal areas, including Waveland, Pass Christian, Long Beach, Gulfport, Biloxi, Ocean Springs, Gautier, Pascagoula, and Moss Point. Unlike many insurers that offer no options for flood insurance, Allstate provides private flood insurance through a subsidiary called National General.

Allstate also has a specialized disaster help center, which provides resources to coastal residents most at risk from floods and hurricanes.

Pros
  • One of the nation’s largest insurers, with a demonstrated history of financial security

  • Disaster help center offers added support to local residents affected by tornadoes, flood damage, and other natural disasters

Cons
  • Below-average rating in J.D. Power ‘s 2023 U.S. Home Insurance Study

  • Above-average number of consumer complaints with the NAIC

Cheapest home insurance in Mississippi

Mississippi Farm Bureau provides the cheapest homeowners insurance coverage in Mississippi. But the cheapest insurer for you will depend on several factors, including your age, location, marital status, claims history, and more. That’s why you should always shop around to find the right home insurance policy for you.

The table below shows the most affordable insurers, on average, for the state.

Insurance CompanyAverage Annual Premium
Mississippi Farm Bureau$2,110
USAA$3,027
Nationwide$3,397
Allstate$3,582
Foremost$4,416
Travelers$4,735

Cost of homeowners insurance in Mississippi

In Mississippi, the average annual homeowners insurance premium for $300,000 in dwelling coverage is $4,312. This is above the national average of $2,377 in annual premiums for a $300,000 policy. A high risk of hurricanes, wind, and tornadoes helps drive up premium costs in the state.

Discover Your Next Home Insurance Policy

Compare rates from top insurers

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

Cost of homeowners insurance by dwelling coverage amount

The average Mississippi home is worth $179,749, according to Zillow.[5] The higher the value of a home, the more expensive a homeowners insurance policy becomes.

Insurers charge more to provide more coverage for costlier homes because if a covered event damages or destroys the home, the insurer will have to pay out a larger amount for repairs or rebuilding.

The table below shows average premium prices, based on coverage limits, so you can get an idea of what insuring different homes would cost for different levels of protection.

Coverage LimitAverage Annual Premium
$100,000$1,860
$200,000$3,119
$300,000$4,312
$400,000$5,529
$500,000$6,822

Cost of homeowners insurance by deductible

You must cover the cost of your deductible before your homeowners insurance pays for any covered loss.

If you opt for a low deductible, you can expect your insurer to charge higher premiums since your insurer is taking on more of the risk. In contrast, when you raise your deductible, your policy premiums will decline. This can be an effective way to lower your insurance costs, but you should never set your deductible so high you can’t afford to pay it should you need to file a claim.

The table below shows how much homeowners pay for policies with different deductible amounts in Mississippi.

Deductible AmountAverage Annual Premium
$500$4,373
$1,000$4,312

How to get cheap homeowners insurance in Mississippi

You can save money on homeowners insurance in Mississippi, no matter where you live, by taking a few simple steps:

  • Shop around. Some insurers charge average premiums that cost more than twice what competitors charge. Shopping around helps you find the cheapest insurer for your specific profile and needs.

  • Install safety features. Smoke detectors and alarm systems help reduce the risk of devastating loss from a fire or break-in. Most insurers offer discounts if you put these safety features in place. They can also offer added peace of mind.

  • Bundle coverage. Insurers offer discounts if you buy multiple insurance products from the same company. The more policies you have, the greater the discounts for each kind of coverage.

  • Monitor your claims. If you have a long history of filing claims, your insurer will likely charge you more for a policy than someone who files fewer claims. Be mindful of how many claims you file, and remember that a claim now could affect your long-term rates.

How much homeowners insurance do you need in Mississippi?

If you have a mortgage, your lender will require you to buy dwelling coverage that pays to rebuild or replace your home in the event of a loss.

In addition to this mandatory coverage, you may also want:

  • Other structures coverage to protect your shed, garage, or pool

  • Personal liability coverage in case visitors hurt themselves at your house

  • Personal property damage coverage to pay to repair or replace your possessions, especially if you have expensive valuables in your home

You may also consider buying replacement cost coverage rather than actual cash value coverage. Actual cash value, or ACV, coverage pays to repair or replace your belongings after deducting for depreciation. Choosing a replacement cost policy allows you to rebuild your home to its current condition and replace lost or damaged property with new items based on current prices.

Be sure to review your policy carefully to see exactly what your homeowners insurance covers.

Find Cheap Home Insurance in Mississippi

Check quotes from 100+ top insurance companies

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

What are some of the biggest risks when owning a home in Mississippi?

Mississippi homeowners face a serious risk of major weather events, with Mike Chaney, state insurance commissioner, warning about the dangers of hurricanes, high winds, flooding, and tornadoes. Here’s what homeowners need to know about these potential disasters.

  • illustration card https://a.storyblok.com/f/162273/150x150/0a25826e6f/weather-96x96-yellow_010-windy.svg

    Hurricanes

    Mississippi saw 21 tropical storms and four major hurricanes in 2021, which made it the third-most active season on record. The 2020 hurricane season was the most active, with 30 named storms and six major hurricanes, according to the Mississippi Emergency Management Agency.[6] Homeowners insurance won’t cover flooding from hurricanes, although policies should cover wind damage.

  • illustration card https://a.storyblok.com/f/162273/150x150/0194b78427/weather-96x96-orange_043-flood.svg

    Flooding

    Optional flood insurance is available through the National Flood Insurance Program operated by the Federal Emergency Management Agency, as well as from some private insurers. Consider purchasing a flood insurance policy if you live in a high-risk area.

  • illustration card https://a.storyblok.com/f/162273/150x150/d2251ba1fd/weather-96x96-blue_018-tornado.svg

    Tornadoes

    Mississippi experiences an average of between 30 and 100 tornadoes each year, according to the Mississippi State Department of Health. Tornadoes can come with wind speeds of up to 250 miles per hour, and unfortunately, Mississippi is the site of three of the deadliest tornadoes in U.S. history. Most standard homeowners insurance policies cover tornado damage.

Mississippi homeowners insurance FAQs

If you still have questions about Mississippi homeowners insurance, check out the answers below.

  • How much is home insurance in Mississippi?

    The average cost of homeowners insurance in Mississippi is $4,312 per year for $300,000 in dwelling coverage. The national average is $2,377, meaning Mississippi residents pay more than homeowners in many other states.

  • Which company has the cheapest homeowners insurance in Mississippi?

    Mississippi Farm Bureau offers the cheapest rates in Mississippi, starting at $2,110 for $300,000 in dwelling coverage.

  • Does GEICO have homeowners insurance in Mississippi?

    Yes. GEICO has an office in Mississippi based in the Biloxi-Gulfport area.

  • Does Mississippi require homeowners insurance?

    No. The state itself doesn’t require you to carry homeowners insurance. But if you have a mortgage on your home, your lender will likely require you to carry coverage in order to protect its investment.

Sources

  1. Mississippi Insurance Department. "MITIGATION PROGRAM WOULD SAVE MONEY, PROPERTY AND LIVES."
  2. WLOX. "Insurance companies leaving high-risk climate areas, limiting Coastal residents with affordable coverage options."
  3. U.S. Department of Commerce. "2021 Was An Active Year For Tornadoes in Mississippi."
  4. United States Census Bureau. "Mississippi."
  5. Zillow. "Mississippi Housing Market."
  6. Mississippi Emergency Management Agency. "Hurricanes."
Christy Rakoczy
Christy Rakoczy

Christy Rakoczy has been a personal finance and insurance writer for over a decade. Her work has been published on USA Today, MSN, Yahoo Finance, Credit Karma, Forbes Advisor, and more. Christy has a JD from UCLA School of Law and previously worked as a data analyst for Blue Cross and as a paralegal studies instructor before transitioning to writing full time.

Chris Schafer
Edited byChris SchaferSenior Editor
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

Featured in

media logomedia logomedia logomedia logo
Andrew Huang
Data reviewed byAndrew HuangVP, Marketing & Analytics
Headshot of Andrew Huang, Directory of Analytics at Insurify
Andrew HuangVP, Marketing & Analytics
  • Chartered financial analyst

  • 12+ years in data analysis and marketing

Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

Featured in

media logomedia logomedia logo

Compare Home Insurance Quotes Instantly

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

Latest Articles

View all