Missouri Homeowners Insurance Quotes (2023)

The average cost of home insurance in Missouri is $256 per month, or $3,072 a year. Missouri is at risk for inland flooding, so a home insurance policy that properly protects your home is crucial.^[1] Buying the best home insurance policy for you lets you protect your Missouri home from various events like theft, natural disasters, and more.

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Best home insurance companies in Missouri

A variety of home insurance companies serve homeowners in Missouri. The ideal home insurance company for you depends on your individual situation and needs.

Best large insurer: Liberty Mutual

Liberty Mutual has been around since 1912. While it originally sold workers compensation insurance, the company evolved and now offers a number of other products, including home insurance. J.D. Power rated Liberty Mutual an 805 out of 1,000 points in its home insurance study.^[2] On average, Liberty Mutual home insurance quotes in Missouri are $233 a month.

Best insurer for cheap rates: Acuity

Started in 1925, Acuity has an A+ rating from A.M. Best and is one of the cheapest home insurance companies in Missouri.^[3] Its average monthly rate is $165 a month, which is lower than some of its competitors. Acuity offers multiple add-on options, like earthquake insurance and service line coverage.

Best insurer for flood coverage: Travelers

Travelers has been in business for more than 165 years. It sold its first insurance policy for 2 cents and now offers various insurance products, such as flood coverage for homeowners. J.D. Power rated Travelers 794 out of 1,000 points.^[2] Travelers’ monthly average cost for home insurance is $189.

Best insurer for high-value homes: Nationwide

Since 1926, Nationwide has offered a number of insurance products, including homeowners insurance for high-value homes, renters insurance, car insurance, and life insurance. Nationwide home insurance costs an average of $178 a month, based on Insurify data. It received 816 out of 1,000 points from J.D. Power.^[2]

Best regional insurance company: Missouri Farm & Home

Missouri Farm & Home began in 1901 as The Farmers Home Insurance Company of Ray County. In 2018, it re-incorporated to Missouri Farm & Home to reflect its coverage of the entire Show-Me State. Based in Richmond, Missouri Farm & Home provides insurance for primary dwellings, mobile homes, farms, and more.

Methodology

Insurify’s team of data scientists analyze millions of home insurance quotes, and weigh publicly available reviews, claims payout rates, complaint indexes, financial strength scores, company reputations, and proprietary quoting data. Our editorial team applies this insight to inform our unbiased reviews and recommendations.

How much is homeowners insurance in Missouri?

Homeowners insurance in Missouri costs an average of $256 a month, which is $3,072 a year. But every homeowner needs different coverages for their homes. Several factors affect your home insurance rates in Missouri, including:

• Home location: One of the most significant factors that insurance companies use to determine home insurance premiums is location. If you live in an area that’s susceptible to natural disasters, like earthquakes and floods, you’ll pay more than a homeowner in a city with mild weather conditions. Also, premiums tend to be higher in cities than in rural areas. 

• Home’s replacement cost: Replacement cost is the amount it would cost to rebuild your home with similar materials. It’s based on factors like the age of your home, square footage, architectural style, and local rebuild costs in your area.^[4]

• Coverages: The amount of coverage you choose plays an important role in your home insurance costs. Adding extra coverage for sewer lines, natural disasters, high-value possessions, and more will increase your insurance rates.^[5]

How your policy choices affect home insurance rates in Missouri

How much you pay for home insurance depends on what choices you make when choosing a policy. Here are how different parts of a policy can affect your home insurance costs:

Your policy form 

The most common home insurance form for a standard home is an HO-3, also called a special form policy. It will help pay for repairs if your home sustains damage from a peril or event, such as fire and smoke, lightning, windstorms and hail, explosion, vandalism, vehicle damage, theft, falling objects, weight of ice, snow, or sleet, and water damage.

Other home insurance forms are HO-1, which covers 10 perils, but nothing else, and HO-2, which only covers the specific perils listed on the policy. Before you move forward with a home insurance policy, you should check which perils the policy covers.^[6]

Your coverage level

The more home insurance coverage you have, the higher your premiums will be. On the other hand, lower coverage will lead to cheaper rates. If you’d like to minimize your out-of-pocket costs after a home insurance claim, the greater expense of higher coverage might be worth it. 

Your deductible

Your home insurance deductible is the out-of-pocket cost you have to pay before your home insurance company kicks in and covers the rest. It’s separate from your premium, which you’re responsible for paying regardless of whether or not you file a claim. A higher deductible leads to lower premiums and vice versa.^[7]

Keep Reading: Why Do Home Insurance Companies Deny Claims?

How location affects home insurance rates in Missouri

Different ZIP codes within a state can result in different home insurance quotes. Areas in Missouri that are prone to extreme weather events, such as flooding and earthquakes, often have higher home insurance rates. Cities with higher vandalism rates — as well as areas with more people — may have higher home insurance premiums than rural areas with fewer people.

What are the cheapest home insurance companies in Missouri? 

State Auto, Acuity, and Stillwater offer the cheapest home insurance quotes in Missouri. While the state average is $256 per month, these insurers provide policies for a monthly average of $162, $165, and $177, respectively. Remember that your specific coverage needs may result in a more expensive quote.

How much homeowners insurance do you need in Missouri?

If you take out a mortgage on your home, your mortgage company may require you to purchase a home insurance policy.^[8] It’s important to understand exactly what your home insurance policy covers when you buy it, so you know you’re protected from everything you want to be. 

What home insurance coverages should you buy in Missouri?

A homeowners insurance policy has several standard components, including: 

• Dwelling coverage: Dwelling coverage pays to repair or rebuild your home if severe weather conditions or other disasters damage it. It usually covers attached garages.

• Other structures coverage: This coverage protects structures that aren’t attached to your home. These may include detached garages, guest houses, sheds, and fences.

• Personal property coverage: Personal property coverage protects your personal belongings, such as electronics, furniture, and appliances. It applies even if the possessions aren’t in the home, like during travel.

• Loss-of-use coverage: Loss-of-use coverage is designed to pay for extra living expenses you may incur when your home is undergoing repairs and you can’t live in it. Some examples include lodging, additional transportation costs, personal property storage, and parking fees.

• Personal liability coverage: Personal liability coverage protects you from the financial losses you might face from lawsuits for property damage or bodily injury.

• Medical payments coverage: Medical payments coverage pays the medical bills of anyone that is hurt on your property. But it doesn’t apply if someone sues you.^[5]

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What optional home insurance coverages should you buy in Missouri? 

Depending on your home’s location and unique situation, it might make sense to invest in optional home insurance coverage in Missouri. Here are a few types of additional coverage you may want to explore:

• Flood insurance: A traditional policy doesn’t usually cover flood damage from flash floods and urban floods that can occur in Missouri.^[9] If you live in a flood zone, flood insurance may be worth it. You can purchase a flood insurance policy from a private insurer or through the National Flood Insurance Program.

• Earthquake insurance: Missouri can experience small earthquakes and tremors.^[10] Since traditional home insurance won’t shield your home against them, you may want to explore earthquake insurance.

• Home-based business insurance: If you run a business out of your home, home-based business insurance is worth considering. It can protect various business items like inventory, technology, files, and professional equipment. 

• Sump pump insurance: “Damage from sump pump overflow isn’t automatically covered by a basic home policy. However, you can add a sump pump endorsement to your home policy to help protect you in case your sump pump fails,” explains Holly Carter, a COUNTRY Financial insurance agent based in Kansas City, Missouri.

Check Out: What Does a Sump Pump Do? What Is It Used For?

How much home insurance coverage should you have in Missouri?

Not every home insurance policy will work for every homeowner, as every home has different risk factors. Therefore, you should invest in enough home insurance to cover the entire cost to rebuild your home and replace your personal belongings.

Also, if you have a mortgage, your lender may require a minimum amount of home insurance.^[8] If you live in an area with extreme weather conditions, you might want to invest in optional coverages for extra peace of mind. Before you choose a policy, it’s a good idea to consider quotes from at least three different insurers.

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

Several of the most significant risks of home ownership in the Show-Me State include: 

• Flooding: Flooding along the Mississippi River Valley in the spring and early summer months led to at least $1 billion in damage in 2015 alone. “Homeowners insurance does not cover flood damage. If you live in a community that’s part of the National Flood Insurance Program, you can get flood insurance through the federal program,” explains Carter.

• Earthquakes: Missouri is one of the six states prone to substantial loss due to earthquakes. Earthquakes are particularly common in the New Madrid Seismic Zone and the Wabash Fault.^[11] Depending on where you live, you might want to invest in stand-alone earthquake insurance, which will likely come with a higher deductible than a traditional policy.

• Tornadoes: Occasional tornadoes do occur in Missouri. In fact, the state experiences more than 30 tornadoes a year. Some traditional home insurance policies do cover tornado property damage, so you might not have to purchase additional coverage.

• Property crimes: Thefts or burglaries can be devastating, especially when you’re not protected. The good news is traditional home insurance usually covers theft from your home.

How can you save money on homeowners insurance in Missouri? 

Here are some tips to help you lower your home insurance costs in the Show-Me State. 

Bundle home and auto insurance 

You may need a home insurance policy and an auto insurance policy. If this is the case, consider buying these two products with one insurance company. Many home insurance companies will reward you with a discount for bundling home and auto insurance.

Look for discounts

Most home insurance companies offer various discounts. You might qualify for some and enjoy significant savings on your policy. While discounts vary, most insurers provide discounts for newer roofs, safety devices like smoke detectors and security systems, and loyalty.

Increase your deductible

One of the easiest ways to save on home insurance is to raise your deductible for a covered claim. As long as you can afford the higher out-of-pocket costs, a higher deductible may help you save on your premium. 

Comparison shop

It’s well worth your time to shop around and compare your options. By comparing rates and coverage options from at least three providers, you can find the ideal policy.

Only buy the coverage you need

Plenty of add-on coverage options are available that can increase the cost of home insurance. While some may make sense, others are likely unnecessary. Consider where you live and what types of risks your home may face. Then, make sure your coverage meets your needs and that you’re not investing in a more comprehensive policy when you don’t really need it. 

Review your policy often

It’s easy to purchase a home insurance policy and forget about it. But this can cost you. If you’ve made improvements to your home or your insurance needs have changed, you may need to adjust your coverage. As long as you review your coverage regularly, you can ensure that you’re paying the right amount for your insurance and avoid overpaying.

“Make sure you are covered for the long haul. I recommend homeowners do regular insurance reviews to ensure you have the right coverages,” Carter says. “Since repair and construction costs continue to rise, make sure you are adequately protected.”

Average home replacement cost value in Missouri 

Also known as rebuild cost, replacement cost is the amount of money it will take to rebuild your home with similar building materials. Your home’s replacement cost will depend on factors like your roofing materials, interior features, flooring materials, exterior features, home’s age, and building codes.^[4] It will affect your coverage levels as you can expect to pay more if your home is expensive to rebuild. Here’s a look at rebuild costs for some of the most popular cities in Missouri.

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Missouri home insurance FAQs