Based on our research, Allstate leads the pack for the best Mississippi homeowners 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, Metropolitan Insurance and Mississippi Farm Bureau made the cut because of their affordable policies and variety of coverages.
Homeowners in Mississippi should consider that their properties are at risk of damage for ice storms, tornadoes, hurricanes, high winds and earthquakes. We took that into consideration and selected companies that will cover these perils.
The 5 Best Homeowners Insurance Companies in Mississippi
- Allstate – Best for New Homebuyers
- USAA – Best for Military Members and Families
- Metropolitan Insurance – Best for Replacement Cost Coverage
- Mississippi Farm Bureau Casualty Insurance Company – Best for Coverage Options
- State Farm – Best Web Experience
Compare Mississippi’s Top Insurance Companies
| Company | Average Price | AM Best Financial Strength | J.D. Power Overall Customer Satisfaction |
| Allstate | $734 | A+ | 829* |
| USAA | $1,451 | A++ | 889* |
| Metropolitan Life Insurance | $1,694 | A+ | 877* |
| Mississippi Farm Bureau Casualty Insurance Company | $1,996 | A | N/A |
| State Farm | $2,176 | A++ | 829* |
Information as of 09/25/2020. *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
Why we chose it
Pros
- Lowe average annual premium
- 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
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.
*J.D. Power 2020 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 — but if you are, the company should be your first stop.
Best for Military Members and Families
Why we chose it
Why we chose it
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
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.
*J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on USAA:
Metropolitan Life
Metropolitan Life, better known as MetLife, offers a few enticing coverages, including full replacement cost for your home and belongings, without an enormous premium.
Best for Replacement Cost Coverage
Why we chose it
Why we chose it
Pros
- Offers replacement cost coverage
- Can bundle with auto insurance
- Can easily with flood insurance
Cons
- Average customer reviews
Discounts available
- Safety discount
- Policy bundling
- Group and employer discounts
Unique features
MetLife offers great coverage, including replacement cost coverage for your home and belongings, as well as flood insurance. You also get identity protection coverage with every policy.
*J.D. Power 2020 U.S. Property Claims Customer Satisfaction Study, based on a 1,000-point scale
Further Reading on Metropolitan Life:
Mississippi Farm Bureau
Mississippi Farm Bureau has a good online presence as well as an exceptional app that allows you to review your policy, report a claim, contact a local agent, and even request roadside assistance.
Best for Coverage Options
Why we chose it
Why we chose it
Pros
- Strong mobile app
- Multiple coverage options
Cons
- As most local companies, it doesn’t have third-party customer satisfaction ratings
- Few discounts available
Discounts available
- Account discounts
- New home discounts
- Claims free discount
Unique features
Mississippi Farm Bureau Insurance is one of the largest property insurance in this state. It offers various products, such as homeowners insurance, renters insurance, landlord insurance, flood insurance, manufactured and mobile home insurance.
*J.D. Power 2019 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale ** There is not enough information to calculate this score.
State Farm
State Farm offers above-average customer support along with competitive pricing and solid coverage options. For those new to home ownership, its Simple Insights blog can tell you everything you need to know about homeownership in general.
Best Web Experience
Why we chose it
Why we chose it
Pros
- Financially strong
- Excellent web presence
- 19,000+ agents nationally
- Informative blog
Cons
- Limited discounts
- Higher premiums
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.
*J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on State Farm:
Average Cost of Homeowners Insurance in Mississippi
According to the Insurance Information Institute the average cost for homeowners insurance is $1,537, which is significantly higher than the national average of $1,211. Just keep in mind that 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 Will Further Protect You
If you want to protect your investment, we recommend adding the following to your homeowners insurance in Mississippi:
- 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 Companies | Average Annual Premium |
| Allstate | $734 |
| USAA | $1,451 |
| Metropolitan Life Insurance | $1,694 |
| Mississippi Farm Bureau Casualty Insurance Company | $1,996 |
| State Farm | $2,176 |
| Average Across Insurance Companies | $1,610 |
Cost of Homeowners Insurance by Age of Home
| Age of Home | Average Annual Premium |
| 0-10 | $1,608 |
| 10-25 | $2,225 |
| 25-50 | $2,263 |
| 50+ | $2,231 |
| Average Across Age of Home | $2,082 |
Top 3 Cheapest Homeowners Insurance Companies in Mississippi
- Mercury Insurance: $405 average annual premium
- Progressive: $409 average annual premium
- Allstate: $416 average annual premium
Top 3 Most Expensive Homeowners Insurance Companies in Mississippi
- PURE Insurance: $4,865 average annual premium
- Encompass: $4,077 average annual premium
- Chubb: $2,948 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:
- Mississippi’s Insurance Department: The website includes helpful guides to understand homeowners insurance, prepare for natural disasters, fire safety and a home inventory checklist, among other subjects.
- Mississippi Homeowners Association (HOA) Laws and Resources: This group provides information about laws, regulations, government agencies, legal resources, information and documents that every homeowner should know about.
Homeowners Insurance FAQ
Is homeowners insurance required in Mississippi?
You are not legally required to have homeowners insurance in Mississippi. However, if you have a mortgage, your lender could require it to protect both you and the bank.
What is the cheapest homeowners insurance in Mississippi?
The cheapest homeowners insurance in Mississippi is currently Allstate with an average annual premium of $734. Followed by USAA and Metropolitan Insurance. Keep in mind that what you end up paying will be different from the average premiums in this article, based on your specific needs and circumstances. Get quotes from at least three different companies to compare and select the best fit for you.
Methodology
We evaluated the companies based on their customer rating and experience, financial stability, and coverage to determine the best providers. To compare home insurance companies in Mississippi across the board, we then calculated a Reviews.com score based on the following:
- 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.
About the Authors
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.
