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The Best Homeowners Insurance in Mississippi of 2022

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    Based on our research, Allstate leads the pack for the best Mississippi home insurance companies. Our top picks are selected for various reasons, including premium cost, independent third party evaluations, available discounts, and amount and type of policies offered. Three of our choices are part of our best homeowners insurance companies nationwide: Allstate, USAA and State Farm. Although smaller in size, Southern Farm Bureau made the selection of top picks because of its affordable policies and variety of coverages.

    Homeowners in Mississippi should consider that their properties are at risk of damage from ice storms, tornadoes, hurricanes, high winds and earthquakes. We took that into consideration and selected companies that will cover these perils.

    The 4 Best Homeowners Insurance Companies in Mississippi

    Compare Mississippi’s Top Insurance Companies

    CompanyAverage Price*AM Best Financial StrengthJ.D. Power Overall Customer Satisfaction**
    Allstate $2,283A+829*
    USAA $1,402A++882*
    Southern Farm Bureau $1,107AN/A
    State Farm $2,409A++835*

    Information as of 09/28/2021. *Based on a 1,000-point scale.

    *Data from Bankrate.com

    **2021 J.D. Power U.S. Home Insurance Study. Based on a 1,000-point scale.

    Allstate

    Allstate’s strength is in the diversity of its offerings and discounts, which allow you to pick and choose the coverage that works best for your circumstances. It has a great website, with tons of useful information.

    Best for New Homebuyers

    Why we chose it

    Allstate is available in all 50 states, plus D.C., and offers competitive discounts for first-time home buyers. Allstate is also generous in its coverage, providing up to $10,000 for accidental damage.
    • $2,283* Average Premium Pricing data comes from our partners at Bankrate.com.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 829** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Allstate is available in all 50 states, plus D.C., and offers competitive discounts for first-time home buyers. Allstate is also generous in its coverage, providing up to $10,000 for accidental damage.

    Pros

    • Discounts specific to new homeowners
    • Diverse discount opportunities, an informative website and digital tools
    • Above-average customer service

    Cons

    • NAIC complaint index high
    • Financial strength ratings good, but not great
    Read More

    Discounts available

    • Early signing discount
    • Homebuyer discount
    • Hail-resistant roof discount

    Unique features

    Allstate’s discount list is longer than most national insurers. You could save up to 10% on your premiums if you sign up for your new policy at least 7 days before the current one expires.

    *Data from Bankrate.com

    **J.D. Power 2021 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale

    Further Reading on Allstate:

    USAA

    USAA appears at the top of rating lists for its excellent customer service, comprehensive policies, and fair prices. The only catch is that you must be a current or former member of the military community to purchase a policy. Because of this restriction, it is considered rank-ineligible by J.D. Power. For those who qualify, the company may be a good choice for the military lifestyle.

    Best for Military-Focused Coverage

    Why we chose it

    USAA has earned a high reputation for quality and service within the military community. If you fit the demographic and are eligible for coverage, getting a quote from USAA may help you determine if it’s a good fit for homeowners insurance.
    • $1,402* Average Premium Pricing data comes from our partners at Bankrate.com.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 882** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    USAA has earned a high reputation for quality and service within the military community. If you fit the demographic and are eligible for coverage, getting a quote from USAA may help you determine if it’s a good fit for homeowners insurance.

    Pros

    • Outstanding customer service
    • Policies tailored to military family needs
    • Competitive pricing

    Cons

    • Only available to current and former military members and their families
    • Limited discounts
    Read More

    Discounts available

    • Save 10% if you bundle with auto 
    • Claims-free 10% discount
    • Home security system discount

    Unique features

    USAA’s policies are written with service men and women in mind. This means they have details that anyone in the military can appreciate, such as full coverage for uniforms for active duty or deployed members.

    *Data from Bankrate.com

    **J.D. Power 2021 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale

    Further Reading on USAA:

    Southern Farm Bureau

    Southern Farm Bureau has a strong online interface, as well as an app that allows you to review your policy, report a claim, contact a local agent, and even request roadside assistance. For homeowners in Southern who prefer digital resources and functionality, Southern Farm Bureau may be worth considering.

    Best for Coverage Options

    Why we chose it

    Farm Bureau offers a variety of coverage options and a digital-forward customer experience, so that you can easily choose what you need for financial home protection. While not rated by J.D. Power, Southern Farm Bureau does not appear to have any negative reports of customer experience.
    • $1,107* Average Premium Pricing data comes from our partners at Bankrate.com.
    • A AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • N/A** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Farm Bureau offers a variety of coverage options and a digital-forward customer experience, so that you can easily choose what you need for financial home protection. While not rated by J.D. Power, Southern Farm Bureau does not appear to have any negative reports of customer experience.

    Pros

    • Comprehensive mobile app
    • Multiple coverage options

    Cons

    • As most local companies, it doesn’t have third-party customer satisfaction ratings
    • Few discounts available
    Read More

    Discounts available

    • Account discounts
    • New home discounts
    • Claims free discount

    Unique features

    Southern Farm Bureau Insurance is one of the largest property insurance in this state. It offers various products to protect your dwelling from financial devastation, such as homeowners insurance, renters insurance, landlord insurance, flood insurance, manufactured and mobile home insurance.

    *Data from Bankrate.com

    **J.D. Power 2021 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale

    State Farm

    State Farm offers favorable customer support, along with competitive pricing and solid coverage options. For those new to home ownership, the Simple Insights blog can help round out your knowledge of homeownership, in general.

    Best Web Experience

    Why we chose it

    Providing a high-quality customer experience is only one of State Farm’s strengths. It also offers multiple coverage options, with add-ons, to help customize your policy.
    • $2,409* Average Premium Pricing data comes from our partners at Bankrate.com.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 835** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Providing a high-quality customer experience is only one of State Farm’s strengths. It also offers multiple coverage options, with add-ons, to help customize your policy.

    Pros

    • Financially strong
    • Excellent web presence
    • 19,000+ agents nationally
    • Informative blog

    Cons

    • Limited discounts
    • Higher premiums
    Read More

    Discounts available

    • Multiple policy discount
    • Fire, smoke, or burglar alarms discount
    • Impact-resistant roof discount

    Unique features

    State Farm’s comprehensive website makes it easy to get a detailed quote in minutes. You can also pay your bill, file and manage a claim, and handle most maintenance tasks either online or via the company’s app.

    *Data from Bankrate.com

    **J.D. Power 2021 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale

    Further Reading on State Farm:

    Average Cost of Homeowners Insurance in Mississippi

    The average cost of homeowners insurance in Mississippi is $1,773 per year for $250,000 in dwelling coverage, based on 2021 quoted annual premiums from Bankrate.com. The rate you pay could be different, however, because there are a variety of factors that influence the cost of a premium. These include things such as: location, construction, condition, age, and size of home, policy type, deductible and claim history.

    Home Insurance Add-Ons That May Further Protect You 

    If you want to protect your home from negative financial impacts, the following additions may be recommended by insurers to round out your insurance plan:

    • Flood Insurance: Flooding caused $20 billion worth of damages in Mississippi in 2019 alone. For this reason every Mississippian should strongly consider purchasing flood insurance. Flood insurance must be purchased separately through the NFIP, though you may be able to use your main provider as a liaison. To see if your home is at risk of flooding, you can input your address into a FEMA flood map
    • Other Structures insurance: Other structures protect anything else on your property that is not your home, such as a barn, shed, or garage.
    • Earthquake Add-on: Mississippi is extremely close to the New Madrid fault line. Experts are predicting a big earthquake along this fault line in the next 50 years. When that happens, they think Mississippi will be affected. Just to be prepared, we recommend  adding this type of coverage to your policy.
    • Extreme weather: Review your policy for tornado and hurricane wind damages. This state has had multiple hurricanes hit it in recent years. A standard policy covers wind damage regardless of the source, however, many providers stipulate that hurricane and tornado wind damages are not covered.  Speak with an agent specifically about these kinds of threats to make sure you are covered. 

    The Cheapest Homeowner Insurance Companies in Mississippi 

    Homeowner  Insurance CompaniesAverage Annual Premium*
    Nationwide$659
    Southern Farm Bureau$1,107
    USAA$1,402
    Travelers$1,444
    Allstate$2,283
    State Farm$2,409

    *Based on $250,000 in dwelling coverage

    Top 3 Cheapest Homeowners Insurance Companies in Mississippi

    • Nationwide: $659 average annual premium
    • Southern Farm Bureau: $1,107 average annual premium
    • USAA: $1,402 average annual premium

    Top 3 Most Expensive Homeowners Insurance Companies in Mississippi

    • State Farm: $2,409 average annual premium
    • Allstate: $2,283 average annual premium
    • Travelers: $1,444 average annual premium

    Resources Helpful for Mississippi Homeowners

    Understanding how homeowners insurance works, its coverage, tips and your rights as property owner helps you get the most value out of your policies. Here are some tools and resources for customers shopping around for home insurance in Mississippi:

    Homeowners Insurance FAQ 

    Methodology

    We evaluated the companies based on their third-party agency ratings for customer experience, financial stability, as well as coverage options to determine which might be the best providers. 

    To compare home insurance companies across the board, we considered the following factors:

    • Customer Ratings: Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using J.D. Power Homeowners Satisfaction ratings.
    • Coverage: As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available. 
    • Confidence: It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength will not have issues paying out claims, regardless of the amount. However, companies with weak financial strength might not be able to pay out claims. We measured this using AM Best’s ratings, which specializes in assessing the financial strength of insurance companies.
    • Customer Experience: The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.

    Rates are based on quoted annual premiums from Bankrate.com. These are sample rates and should be used for comparative purposes only. Your quotes may be different.

    The coverage limits for home insurance rates reflect the following coverage and limits:

    • Coverage A, Dwelling: $250,000
    • Coverage B, Other Structures: $25,000
    • Coverage C, Personal Property: $125,000
    • Coverage D, Loss of Use: $50,000
    • Coverage E, Liability: $300,000
    • Coverage F, Medical Payments: $1,000

    The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

    About the Authors

    Nina Rodríguez-Quirós

    Nina Rodríguez-Quirós Feature Writer

    Nina Rodríguez-Quirós is a feature writer for Reviews.com. Over the last year, she has covered insurance providers, claims handling, coverage and more. She has been featured in Allconnect.com and holds a Master’s Degree in Theory and Research of Communications from the University of Puerto Rico. Her favorite review is Millennials and Auto Insurance.

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