Based on our research, Allstate leads the pack for the best Mississippi homeowners insurance companies.
Our top picks were selected for a variety of reasons, including premium cost, independent third party evaluations, available discounts, and amount and type of policies.
Below are our evaluations of the top Mississippi insurance providers.
The 5 Best Homeowners Insurance Companies in Mississippi
|Allstate||State Farm||Mississippi Farm Bureau Casualty Insurance Company||USAA||Metropolitan Insurance|
|Our review||Our review||Our review|
|AM Best Financial Strength Rating||A+||A++||A+||A++||A+|
|J.D. Power Overall Customer Satisfaction Score (Relevant region)||3/5||4/5||NA||5/5||2/5|
|Online Quote Tool||✓||✓||✓||✓||X|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
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 such things as:
- Location, construction, condition, age, and size of home
- Policy type
- Credit score
- Claim history
Home Insurance add-ons that will further protect you-
As a homeowner protecting your investment, you may want to purchase the following add-ons.
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. However, even if FEMA has deemed your home to be safe, still consider purchasing flood insurance as Mississippi weather on the whole can be unpredictable.
Other structures protect anything else on your property that is not your home, such as a barn, shed, or garage.
Mississippi is extremely close to frequent activity along 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. If you are concerned about being prepared for this event, adding this type of coverage would be an effective measure to take.
Important: Review Policy for Tornado and Hurricane Wind Damage
A standard policy covers wind damage regardless of the source. However, many providers stipulate that hurricane and tornado wind damages are not covered so it’s in your best interest to speak with an agent specifically about these kinds of threats.
Helpful Resources for Mississippi Homeowners
The Mississippi Insurance Department has a variety of tools and resources for Mississipians shopping for any type of insurance, not just homeowners insurance.
On the homeowners page, it has a slew of information and links to help you make the best decision for you and your family, some of which include:
- Natural Disaster Preparedness
- Hurricane Checklist
- Home inventory checklist
- Fire preparedness
- Insurance shopping tool
Online vs. In-Person
This is generally a matter of personal preference. Most insurance companies enable you to submit an application entirely online. If you prefer to speak directly to an agent to ensure all your questions and concerns are addressed, getting a quote or applying over the phone may be a better solution.
Materials Needed for Application
You need to be able to answer specific questions about your home. For this, we recommend pulling out your inspection report as your inspector will have already answered many of the questions you will be asked. In the event of extensive repairs or remodeling, you will likely need to report what work has been done, what materials were used, and how much you spent.
If you are buying a home, your lender will require you to have a policy in place before it will allow you to close. This means you can’t shop around indefinitely for the perfect premium and policy.
If you’ve already closed on a home and are switching policies, just be aware that lenders don’t like for there to be any gaps in coverage, which can result in multiple penalties and fines.
Contact your lender escrow agent to inform them of any changes to your homeowners insurance.
To determine the best homeowners insurance providers in Mississippi, we analyzed a variety of key factors. To start, we first looked at which companies had the largest market share in the state. From there, we then looked at third-party independent review companies such as AM Best (for financial strength) and J.D. Power (for customer satisfaction).
Additionally, we also looked at:
- BBB ratings
- Claims against the provider
- Available discounts
- Ease of filing a claim
- Policy options
- Average annual premium
- Mobile apps
- Web presence
- Available tools and online resources
After doing so, we believe the following companies are well deserving of your business.
Best Mississippi Homeowners Insurance Companies
- Low average annual premium
- Premium savings and discounts
- Plentiful free resources and tools
- Average customer satisfaction reviews
Allstate tops our list as it offers a low average annual premium in Mississippi where other providers do not (the next closest competitor is twice as expensive).
Additionally, Allstate gives its members many ways to save on their annual premium. as well as tools and resources to help them choose the best policy.
The only significant drawback with Allstate is that it has only received average customer satisfaction scores from J.D. Power (which, for such a large company, is to be expected).
- Strong financial rating
- Working mobile app
- Variety of resources for customers
- Expensive Premium
- Average customer satisfaction ratings
State Farm would place higher on this list were it not for the expensive premiums for Mississippi homeowners. It has high JD Power and AM Best ratings (in fact its AM Best rating couldn’t be any higher), and has a fully functioning mobile app (rare in the industry). State Farm’s other detraction is lower customer satisfaction ratings compared to competitors.
Mississippi Farm Bureau Casualty Insurance Company
- Strong mobile app
- Multiple coverage options
- No JD Power Review
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.
Farm Bureau also offers a variety of coverage options so that you can choose only what you need.
One limitation with this company is that it hasn’t been fully reviewed by JD Power. However, it currently does not appear to have any claims filed against it, which is a good sign.
- Exceptional customer service
- Multiple discounts
- Members get paid excess dividends
- Limited to military and their family members
USAA is a top pick with one major limitation — it only offers its services to current and former military.
If you’re eligible to join, you should strongly consider doing so for several reasons. Members get paid excess dividends each year if there are any, it’s one of the cheapest providers in Mississippi, it has exceptional customer service ratings, and the company offers multiple discounts.
- Bundling and savings options
- Website with lots of tools and resources for members
- Additional coverages
- Average customer satisfaction
- No option to file a claim online
Metropolitan insurance offers a strong website that hosts a variety of tools and resources for members, landing it a spot among our top picks.
Other perks include making it possible to save on your premium with easy to achieve discounts, as well as offering additional coverage that will pay the full cost to rebuild your home, regardless of whether or not it were to exceed your policy limit.
Two cons with Metropolitan are that you can’t file a claim online and its customer satisfaction scores are slightly below average.
The Cheapest Homeowner Insurance Companies In Mississippi
|Homeowner Insurance Companies||Average Annual Premium|
|Mississippi Farm Bureau Casualty Insurance Company||$1,996|
|Average Across Insurance Companies||$1,610|
|Average Across Credit Rating Tiers||$|
Homeowner Insurance by Age of Home
|Age of Home||Average Annual Premium|
|Average Across Age of Home||$2,082|
Quadrant home insurance rate data as of 12/01/2019.
These rates are a sample set meantionly for general comparison. Your own premium will vary.
Top 3 Cheapest Homeowner Insurance Companies in Mississippi
• Allstate- $734
• USAA- $1,451
• Metropolitan Insurance- $1,694
Top 2 Most Expensive Homeowner Insurance Companies in Mississippi
• Mississippi Farm Bureau Casualty Insurance Company – $1,996
• State Farm – $2,176
The cheapest provider in Mississippi is currently Allstate with an average annual premium of $734, whereas the most expensive is State Farm with $2,176.
Keep in mind that you will need to contact each company offering the coverage you need to get a personalized quote.
The numbers above are just averages, and don’t necessarily represent what you would pay. You might pay less or more with each company based on factors unique to you.
Homeowners Insurance FAQ
Is homeowners insurance required in Mississippi?
You are not legally required to have homeowners insurance Mississippi. However, your lender most likely requires it, which ultimately protects both you and them.
What is the cheapest homeowners insurance in Mississippi?
The cheapest homeowners insurance in Mississippi is currently Allstate with an average annual premium of $734.
Who are the cheapest providers in Mississippi?
The cheapest providers in Mississippi are Allstate, USAA and Metropolitan Insurance.