The Best Missouri Homeowners Insurance Companies
Missouri’s average annual premiums for homeowners insurance are right in line with the national average — $1253 per year for an HO-3 policy, compared to $1,173 nationwide. That said, how much you’ll pay can vary a lot depending on your home’s size, your assets, and your address. Use our tool to find your best rates:
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With extreme weather and natural disasters regularly hitting the state, finding the best homeowners insurance in Missouri should be a top priority. Unfortunately, even with affordable housing and a low cost of living compared to many other states in the nation, Missouri’s insurance premiums have been on the rise in recent years. Shopping around for the right policy can make all the difference when it comes to protecting your home and your wallet. Premiums can vary widely from company to company, and factors like location, age, and size of your home can all impact the amount you spend on insurance.
How We Found the Best Homeowners Insurance in Missouri
We picked the top five best homeowners insurance companies in Missouri based on similar criteria to our review on nationwide providers, except we factored in specific info from the state when possible. For instance, we analyzed the five largest homeowners insurance providers in Missouri by market share for their coverage options, discounts, resources, site tools, and customer service. Then we did a little digging into each of their reputations, claims processes, and financial stability. We also went through each company’s process of getting a quote online — which went better for some companies than for others. Of course, many factors go into homeowners insurance. What’s best for you might not be best for your neighbor. This guide will help get you started.
Missouri Homeowners Insurance Reviews
Liberty Mutual pulled ahead of the competition with its extremely informative and easy-to-navigate website. The company also came out on top for its high Consumer Reports ratings for customer claims experience — and for listing the most offered discounts on its site. For all of this, we recommend starting your search for homeowners insurance in Missouri with Liberty Mutual. The only downside is its online quote tool won't let you pull a quote without entering a Social Security number. This wasn't our favorite, especially, if you're in the early stages of comparison shopping.
Beyond that, Liberty Mutual is definitely worth your time if you’re looking for the best coverage for the lowest price. Its basic plan includes coverage for repairing or replacing your home in the case of damage or total loss, and will cover the cost for you to live elsewhere during repairs or rebuilding. There’s also the option to get Home Protector Plus coverage, which covers the full replacement cost of your belongings — and any unforeseen costs — if you need to rebuild. Unfortunately, with the threat of tornadoes, earthquakes, and major hail and wind storms in Missouri, rebuilding is a major consideration when you shop for homeowners insurance.
State Farm came in second during our analysis — but just barely. More than one in four homeowners policies in Missouri are with State Farm, and for good reason. It's the number one leader in customer claims experience ratings from Consumer Reports and JD Power. The company also boasts the most endorsements on its website with six. It’s easy to snag coverage options Missourians might be interested in, like sewer backup, inflation guard, and most weather-related events. It also has the highest financial stability ratings compared to the other four major homeowners insurance companies in Missouri — an important thing to consider when it comes to its ability to pay those claims down the line if a large-scale disaster hits. During analysis, we found its website to be less informative — it doesn't include as many specifics about its coverage plans or customer service tools — as compared to other companies on the list. However, its quote tool is extremely quick and easy to use and provides lots of details once you go through the process. We definitely recommend checking out State Farm to see what it can offer you.
Shelter Insurance has a highly informative website that lays out coverage options very clearly, giving it major points during our analysis. It also earned the highest possible score from JD Power for its customer claims experience, as well as a great score for its overall customer satisfaction. On the downside, Shelter Insurance provides very few discounts, which means your premiums might be higher with this company if you are able to take advantage of discounts elsewhere. Its basic insurance plans do cover all the major natural disasters Missourians could face, including optional coverage for earthquakes — a major bonus for those living in the New Madrid seismic zone. Entering information into Shelter’s online quote tool is easy, but unfortunately, you won’t get a quote right away. Instead, a local agent will reach out for more information and then provide you with a more detailed quote. We did hear fairly quickly from an agent, but this does cut down on how quickly you can shop around for the best premium price and your ability to see various coverage options clearly online.
We loved the Farmer’s Insurance website, it is very informative and includes a really cool guide called Seasonal Smarts Digest. The guide details the biggest types of claims filed in each region by season so you can be sure to find coverage for these common claims in your area. You should also consider Farmers because of its great claims service ratings from Consumer Reports and JD Power, as well as its portfolio of discounts including one for non-smokers. Farmers lists a few endorsements on its site, including identity protection coverage, replacement coverage of your home’s contents, or eco-rebuild — an option to receive extra money in the event of a loss to rebuild with green materials. Some other more common add-on options like water backup, inflation guard, or umbrella liability coverage aren’t listed, though. Once you go through the relatively quick process of getting an online quote, you’ll get a range of options with varying levels of additional coverage, including building law coverage, which would offer extra reimbursement to rebuild your home up to new building codes.
American Family Insurance came in last in our analysis for a few reasons. While they received a “Good” rating for claims experience from Consumer Reports, the rest of our picks (with the exception of Shelter, which wasn’t considered) were rated “Very Good.” And, its JD Power rankings gave the company a 3 out of 5 rating in both overall and claims experience — lower than both State Farm and Shelter. American Family also makes you wait for an agent to contact you with a quote, instead of providing it online — not super convenient for shopping around. However, its website is easy to navigate and it has a few discounts that are worth looking at, especially if you have other American Family Insurance policies that already exist. It’s worth reaching out to an agent either way to see whether it might just be the right fit for your situation.
Shop Around: Premiums Vary by City and Insurance Company
|Kansas City||St. Louis||Springfield|
|Farmers*||$268.35 - $412.20||$162.29 - $269.39||$148.83 - $229.04|
*The Farmers Insurance online quote tool provides a range of monthly premiums based on three varying tiers of coverage options.
Above are online quotes we received from State Farm and Farmers. We used three different cities (Kansas City, St. Louis, and Springfield), all with the same estimated amount of replacement cost coverage (around $175,000), and the same size homes (3 bedrooms and 1,300 square feet). The quotes ended up varying as much as $299 a month — a difference that will definitely add up over the years.
In Missouri, it’s important to know how much replacement cost coverage you need in the event of a major event, like a tornado. The Farmers quotes on the higher end of the spectrum will cover guaranteed replacement cost of your home, even if it ends up being higher than your coverage limit. This also shows why it’s a good idea to shop around for coverage — as the same home may have different coverages options and premium amounts from one city to the next.
Homeowners Insurance Claims in Missouri are on the Rise
Increasingly bad weather is one reason homeowners insurance claims are on the rise in Missouri. Another reasons would be bigger and bigger homes, which cost more to replace and repair. According to data analyzed by the Insurance Research Council between 1997 and 2013, average claim severity in Missouri has increased more rapidly than in the rest of the country on average. IRC determined that average claim payments in certain years were due almost entirely to catastrophe-related experience, such as the devastating 2011 Joplin tornado. In years since, wind-related claims, including tornadoes, continue to be a major factor in spiking claims in Missouri, according to the LexisNexis Home Trends Report. Increasingly severe tornadoes and thunderstorms contributed to the fact that, between 2011 and 2016, Missouri was among the top five states for wind claims in the nation.
Coverage You May Not Think You Need, But You Probably Do
Recent news reports from Missouri reveal that there are two types of coverage you might want to invest in — and they probably aren’t top of mind. One, is adding earthquake protection. Most people don’t think of Missouri as a hotbed for earthquakes, like California, but there’s a fault zone that goes through the southeastern corner of the state. Many seismologists predict the region could be due for another quake in the next several years. Unfortunately, policies for earthquake insurance have been going up, and options have been decreasing. It’s definitely worth looking into as you shop for your homeowners insurance.
The other thing you might want extra coverage for: sinkholes. While sinkholes are relatively rare, according to the U.S. Geological Survey, Missouri is one of the top states in the nation to experience them. Since sinkholes can damage your home as well as your land, it’s important to explore options with your homeowners insurance company.