Best Home Insurance Rates in Mississippi

On average, your neighbors pay $100 a month.

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Compare Homeowners Insurance in Mississippi

After reviewing the top home insurance companies in Mississippi and analyzing more than 1,000 quotes, we recommend Allstate as the best all-around company for homeowners insurance in Mississippi. However, everyone’s insurance needs are unique, and you should choose a company only after considering all your options. Here are five companies we think are worth checking out:

Cost of homeowners insurance in Mississippi

Our research also found that the average Mississippi home insurance rate is $1,203 a year, which is just under the national average of $1,215.

  Mississippi U.S.
Average yearly rate $1,203 $1,215
Average monthly rate $100 $101
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

While $1,203 a year is the average rate for Mississippi, costs vary between individual insurers. We saw average rates as low as $916 a year and as high as $1,499 a year in our research.

average cost of homeowners insurance companies in mississippi

Check out our study of the average cost of homeowners insurance for more information about how your local insurers perform nationally.

Best homeowners insurance companies in Mississippi

We like to think about homeowners insurance companies in terms of four categories: price, availability, customer satisfaction and coverage. Based on these factors, Allstate, State Farm, Mississippi Farm Bureau, Travelers and USAA are some of the best companies in Mississippi, each with its own strong point.

Allstate: best company overall

We recommend Allstate as the best overall company in Mississippi due to its balance of customer satisfaction, fair rates and availability. Allstate is the third-largest insurer of homes in the state, meaning it's an option available to many people. Although Allstate’s average rate of $1,244 is slightly above the state average, we think it provides great value for the coverage and customer service.

Allstate’s customer satisfaction is average or better based on its consumer ratings. It received 3/5 from J.D. Power’s 2019 home insurance study, which is about average. We use the National Association of Insurance Commissioners (NAIC) Complaint Index as a measure of consumer satisfaction because it measures the number of complaints a company receives relative to its size. Allstate’s Complaint Index was 0.34 in 2018, which is well below the national average of 1.0 and indicates it received relatively few complaints.

We also like Allstate for combining its large agent network with robust digital resources. Allstate has more than 12,000 agencies throughout the U.S., so customers can speak to local representatives on the phone or drop by an agency. But Allstate’s online informational resources, bill payment and claims servicing allow for a great digital experience, giving you the best of both worlds.

State Farm: best for bundling home and auto policies

State Farm is our pick for the best bundle in Mississippi because its auto and homeowners insurance products both have high customer satisfaction, and it offers significant discounts. Bundling your home and auto insurance can save you money and time, but it’s only worth it if the service you receive is up to your standards.

State Farm received a 4/5 in overall satisfaction from J.D. Power’s home insurance survey and auto insurance survey. Those are impressive numbers, especially across two types of insurance. Those ratings help make up for its high average home insurance premiums of $1,499 a year.

We would expect this cost to be substantially offset by State Farm’s bundling discount, which is advertised as 17% off your auto premium. Additionally, State Farm’s website says that customers who switched to State Farm and bundled saved an average of $854 a year.

Travelers: cheapest rates

Travelers has an average rate of $916 a year, which is the cheapest rate we saw in Mississippi and about 24% below the state average. Travelers’ 2/5 in overall satisfaction from J.D. Power and Complaint Index of 0.30 indicate a middle-of-the-road customer service experience. So even though its consumer satisfaction ratings aren’t off the charts, its low prices give Travelers great value.

Shopping around and comparing insurers is one of the best ways to save money on your home insurance rates. There are also a handful of ways to save with your current company, like raising your deductible, purchasing a new roof or increasing your credit score.

Mississippi Farm Bureau: best local option

Mississippi Farm Bureau has served Mississippians since 1947 and is now the second-largest insurer in the state. With a history of looking out for farmers and homeowners in Mississippi, Mississippi Farm Bureau gives homeowners the chance to be part of a membership program consisting of 192,000 families.

Becoming a farm bureau member means you can enjoy discounts from dozens of local businesses, letting you save on everything from farm equipment to museum entries. Additionally, the organization helps members advocate for their needs at various levels of government. That means Mississippi Farm Bureau homeowners insurance isn’t just insurance — it’s also a way to be involved in local business and politics.

You won’t have to compromise on coverage either — Mississippi Farm Bureau provides the standard coverages you’d expect from your homeowners insurance company, including coverage for:

  • Your home and external buildings
  • Personal property
  • Personal liability and medical payments to others
  • Loss of use

USAA: best for veterans and their families

To qualify for USAA’s homeowners insurance and other financial services, you must be in the U.S. military, a veteran or family of a service member. For those who qualify, USAA is an excellent option, providing top-tier coverage and reasonable rates. Although USAA’s $1,302 average annual rate is above the Mississippi average by 8%, we think the coverage is worth it for the price.

USAA homeowners insurance takes the unique needs of military families into consideration. For example, USAA covers the uniforms of active duty service members and allows you to easily adjust your policy if you are deployed. It’s no wonder USAA received 5/5 in every category from J.D. Power’s home insurance survey (the only company to do so) and has one of the lowest NAIC Complaint Indexes you’ll see — 0.15.

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The biggest homeowners insurance companies in Mississippi

The number of options you have when comparing insurers can be overwhelming. The table below shows the companies that will most likely be available to you in Mississippi based on their market shares, along with their customer satisfaction scores.

Mississippi home insurance market
Company Market share Overall satisfaction rating* (higher is better) NAIC Complaint Index (lower is better)
State Farm 26% 4/5 0.20
Mississippi Farm Bureau 16% N/A 0.14
Allstate 9% 3/5 0.34
Liberty Mutual 7% 2/5 0.45
Nationwide 7% 2/5 0.36
USAA 5% 5/5 0.15
Farmers Insurance 4% 3/5 0.41
Alfa Mutual 3% N/A 0.38
Shelter Insurance 3% N/A 0.34
Travelers 2% 2/5 0.30
*According to J.D. Power's 2019 home insurance survey

Read more about some of the best companies in Mississippi in our best homeowners insurance guide.

Homeowners insurance rates in Mississippi by city

Home insurance rates depend on many rate factors, including your location. Below we list some of Mississippi’s largest cities and their average rates. Jackson, Mississippi’s capital and most populous citiy, sees average rates slightly above average. Cities along the Gulf Coast like Gulfport and Biloxi see substantially higher-than-average rates.

Average yearly homeowners insurance premium by city
City Average annual rate Difference from state average ($1,203)
Biloxi $1,569 30%
Brandon $1,014 -16%
Clinton $1,157 -4%
Columbus $1,014 -16%
Greenville $1,147 -5%
Gulfport $1,479 23%
Hattiesburg $1,206 0%
Horn Lake $984 -18%
Jackson $1,277 6%
Madison $1,052 -13%
Meridian $1,077 -10%
Olive Branch $995 -17%
Oxford $974 -19%
Pascagoula $1,692 41%
Pearl $1,039 -14%
Ridgeland $1,077 -10%
Southaven $987 -18%
Starkville $951 -21%
Tupelo $1,005 -16%
Vicksburg $1,127 -6%
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Homeowners insurance rates in Mississippi by county

Counties along the Gulf of Mexico like Jackson, Harrison and Hancock have the highest average home insurance rates in Mississippi. The Gulf’s warm waters support destructive tropical storms off of the Atlantic, which can devastate communities — and partially explain high home insurance premiums in these areas.

Average yearly homeowners insurance premium by county
County Average annual rate Difference from state average ($1,203)
Alcorn $1,136 -6%
Desoto $996 -17%
Forrest $1,248 4%
Hancock $1,472 22%
Harrison $1,480 23%
Hinds $1,240 3%
Jackson $1,563 30%
Jones $1,156 -4%
Lafayette $1,000 -17%
Lamar $1,203 0%
Lauderdale $1,057 -12%
Lee $1,006 -16%
Lincoln $1,211 1%
Lowndes $1,010 -16%
Madison $1,056 -12%
Marshall $1,125 -6%
Monroe $1,101 -8%
Oktibbeha $965 -20%
Panola $1,019 -15%
Pearl River $1,340 11%
Pike $1,215 1%
Pontotoc $1,177 -2%
Rankin $1,070 -11%
Warren $1,124 -7%
Washington $1,204 0%
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Flood insurance in Mississippi

Homeowners insurance almost never protects you from flooding, so in order to fully protect your home, you’ll have to purchase a separate flood insurance policy. The average cost of flood insurance in Mississippi is $695 a year through the National Flood Insurance Program (NFIP), which is a government flood insurance program. Private flood insurance is occasionally available, but NFIP policies are far more common.

There is no such thing as an area safe from flooding in Mississippi, although most flooding events in Mississippi since 1953 have occurred in the western counties along the Mississippi River. Between 1996 and 2016, FEMA paid out almost $2.5 million in relief through NFIP policies — the sixth-most of any state. About 90% of this aid can be attributed to Hurricane Katrina in 2005, but flooding should be a concern for all Mississippians nonetheless.

Methodology

We considered five companies, Allstate, MetLife, State Farm, Travelers and USAA in our review of 1,000 homeowners insurance quotes. We created a profile based on the average build year, home value and homeowner age in Mississippi. We used the following policy specifications:

  • Dwelling coverage: $133,063
  • Personal property coverage: 50% of dwelling ($66,527)
  • Other structures coverage: 10% of dwelling ($13,305)
  • Loss of use coverage: 20% of dwelling ($26,611)
  • Liability coverage: $100,000
  • Deductible: $1,000
  • Build year: 1983

All geographic and demographic data were provided by S&P Global.

Frequently asked questions

Q: What’s the best homeowners insurance company?

A: Allstate is our top pick in Mississippi, but home insurance is not one-size-fits-all. Check out our study to see our other top-rated companies.

Q: What’s the average cost of homeowners insurance?

A: The average homeowners insurance cost in Mississippi is $1,203 a year, but rates vary city-to-city and county-to-county.

Q: Does homeowners insurance cover flood damage?

A: No, not usually. You’ll most likely have to purchase a separate flood insurance policy.

Q: How much does flood insurance cost?

A: The average cost of flood insurance in Mississippi is about $695 a year.

Sources:

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