Key Takeaways
- Mississippi Farm Bureau offers the cheapest home insurance rates in Mississippi, averaging $199 a month.
- State Farm has the best customer satisfaction scores among the state’s top home insurance providers.
- The average cost of home insurance in Mississippi is almost $800 per year higher than the national average.
In this article
The cheapest home insurance providers in Mississippi
Mississippi Farm Bureau is the cheapest homeowners insurance company in Mississippi. It charges $2,386 a year, on average, for a typical policy.
| Insurance company | Annual premium |
|---|---|
| Mississippi Farm Bureau | $2,386 |
| State Farm | $2,582 |
| State average | $2,691 |
| Nationwide | $2,760 |
| Travelers | $2,867 |
| Allstate | $3,016 |
| USAA* | $2,534 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. *Only available to current/former military and their families. | |
These are average rates. What you pay for home insurance in Mississippi might be higher or lower than the amounts highlighted here. This is because providers consider several factors when calculating a rate quote.
To find a policy that offers you the best combination of price and coverage, compare home insurance quotes from several companies.
How much is home insurance in Mississippi?
The average cost of homeowners insurance in Mississippi is $2,691 a year, or $224 a month.
This is 41% higher than the average cost of home insurance in the U.S., which is $1,903 a year, or $159 a month.
A number of factors go into what you pay for home insurance in Mississippi, including your ZIP code, the age of your home, the materials used to build your home and your insurance claim history.
Another factor that determines your home insurance policy’s premium is the deductible amount you choose. In this case, choosing a lower deductible usually means having a higher premium – and vice versa.
| Deductible amount | Annual premium |
|---|---|
| $500 | $2,882 |
| $1,000 | $2,691 |
| $1,500 | $2,585 |
| $2,000 | $2,421 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Because of this, a good way to lower your home insurance premium is to raise your deductible. Just make sure you can afford to pay the deductible amount you choose, though. There’s no point to raising your deductible to an amount you can’t pay.
The dwelling coverage amount you choose for your home insurance policy also impacts the price of your premium. In particular, a lower dwelling coverage amount often means a lower premium as well.
| Dwelling coverage amount | Annual premium |
|---|---|
| $200,000 | $2,100 |
| $275,000 | $2,691 |
| $350,000 | $3,335 |
| $425,000 | $4,001 |
| $500,000 | $4,675 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Don’t choose a low dwelling coverage amount just to make your home insurance policy cheaper. If you have a mortgage, your lender will likely require you to insure it for its replacement value. You won’t be able to choose a lower amount even if you want to do so.
See how much you could save on homeowners insurance
The best home insurance companies in Mississippi
Mississippi Farm Bureau and State Farm are the best homeowners insurance companies in Mississippi, especially if you value an affordable premium and great customer service.
Mississippi Farm Bureau: Lowest rates
$2,386 a year
11% lower than state average
$2,691 a year
For the lowest home insurance premium in Mississippi, Mississippi Farm Bureau is the only choice. Not only does it charge the cheapest average amount in the state for homeowners coverage, but it also has the best NAIC Complaint Index rating of the companies we surveyed.
Cheapest average home insurance premium in Mississippi.
NAIC Complaint Index rating is the lowest of the state’s top providers.
You must pay a membership fee to access Mississippi Farm Bureau’s insurance products.
Relatively low A.M Best credit rating of B++.
State Farm: Best for customer satisfaction
829
Good NAIC Complaint Index rating0.35
Affordable average premium$2,582 a year
Erie is the best home insurance company in Mississippi for customer service, based on our research. It earns high marks for customer satisfaction and receives few complaints – a winning combination.
Highest score in the J.D. Power 2022 U.S. Home Insurance Study.
Second-cheapest average premium among the state’s top home insurance companies.
NAIC Complaint Index rating is good, but could be better.
State Farm is among the cheapest home insurers in some Mississippi cities and among the most expensive in others. Definitely shop around if you live in Olive Branch, Southaven or Tupelo.
Customer service ratings for Mississippi home insurance companies
State Farm and Mississippi Farm Bureau have the best customer satisfaction and service scores of Mississippi’s top home insurance companies.
| Insurance company | Overall satisfaction score |
|---|---|
| Allstate | 815 |
| Mississippi Farm Bureau | Not included |
| Nationwide | 816 |
| State Farm | 829 |
| Travelers | 794 |
| USAA* | 884 |
| Source: J.D. Power 2022 U.S. Home Insurance Study. *Brand is not rank eligible because it does not meet study award criteria. | |
J.D. Power’s customer satisfaction scores are based on customer surveys that rate home insurers on interaction, policy offerings, price, billing process, policy information and claims. Higher scores are better than lower ones.
While USAA’s satisfaction score from J.D. Power is higher than State Farm’s, it isn’t officially included because not everyone can buy home insurance from USAA.
Mississippi Farm Bureau has by far the lowest NAIC Complaint Index rating of the home insurers we surveyed.
| Insurance company | Complaint Index rating |
|---|---|
| Allstate | 0.52 |
| Mississippi Farm Bureau | 0.03 |
| Nationwide | 0.29 |
| State Farm | 0.35 |
| Travelers | 0.31 |
| USAA | 0.31 |
| Source: National Association of Insurance Commissioners (2022 data) | |
The NAIC Complaint Index compares insurance companies by confirmed complaints. A company with a 2.0 Complaint Index rating has twice as many confirmed complaints as expected for its size. A 0.5 rating reflects half as many as expected.
Although Mississippi Farm Bureau has the best Complaint Index rating, all of the providers we surveyed had good ratings in this area.
How much does home insurance cost in Mississippi by city?
Southaven residents pay the lowest average home insurance premiums among Mississippi’s biggest cities at $2,209 a year. Paid monthly, the average premium is $184.
| City | Annual premium |
|---|---|
| Jackson | $2,824 |
| Gulfport | $3,545 |
| Southaven | $2,209 |
| Biloxi | $3,515 |
| Hattiesburg | $3,038 |
| Olive Branch | $2,253 |
| Tupelo | $2,317 |
| Meridian | $2,398 |
| Greenville | $2,572 |
| Clinton | $2,737 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Jackson
Nationwide and Travelers are your cheapest home insurance options in Jackson, Mississippi. Both charge an average rate of $225 a month.
At $193 a month, USAA is even cheaper, but only homeowners with military ties qualify.
| Insurance company | Annual premium |
|---|---|
| Nationwide | $2,699 |
| Travelers | $2,699 |
| State Farm | $2,865 |
| Mississippi Farm Bureau | $2,898 |
| Allstate | $3,469 |
| USAA | $2,313 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Gulfport
Mississippi Farm Bureau offers the cheapest home insurance in Gulfport, at an average $112 a month.
That said, you may well pay a much higher rate than this. The average home insurance premium in Gulfport is $295 a month – more than double Mississippi Farm Bureau’s average.
Shopping around and comparing home insurance quotes from several companies is key to getting the lowest premium in Gulfport.
| Insurance company | Annual premium |
|---|---|
| Mississippi Farm Bureau | $1,341 |
| State Farm | $1,538 |
| Allstate | $4,101 |
| Travelers | $4,155 |
| Nationwide | $4,789 |
| USAA | $5,346 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Southaven
For cheap home insurance in Southaven, go to Allstate, which charges $154 a month, on average.
| Insurance company | Annual premium |
|---|---|
| Allstate | $1,848 |
| Nationwide | $2,027 |
| Travelers | $2,270 |
| Mississippi Farm Bureau | $2,426 |
| State Farm | $2,516 |
| USAA | $2,167 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Cheapest home insurance companies in Biloxi
Mississippi Farm Bureau has the cheapest homeowners insurance for Biloxi residents. Its average premium is $112 a month.
Like Gulfport, though, the city’s average premium is much higher than this. In fact, it is $293 a month. That’s 160% higher than the Mississippi Farm Bureau average premium.
| Insurance company | Annual premium |
|---|---|
| Mississippi Farm Bureau | $1,341 |
| State Farm | $1,534 |
| Travelers | $3,746 |
| Allstate | $4,295 |
| Nationwide | $4,644 |
| USAA | $5,528 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Get cheap home insurance in Mississippi no matter where you live
How much does home insurance cost in Mississippi by county?
Of Mississippi’s 10 largest counties, homeowners in DeSoto County pay the cheapest average home insurance premium of $2,227 a year, or $186 a month.
| County | Annual premium |
|---|---|
| Hinds | $2,784 |
| Harrison | $3,410 |
| DeSoto | $2,227 |
| Rankin | $2,477 |
| Jackson | $3,688 |
| Madison | $2,383 |
| Lee | $2,326 |
| Forrest | $3,120 |
| Lauderdale | $2,356 |
| Jones | $2,761 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Home insurance risks in Mississippi
Mississippi homes and homeowners face numerous weather perils – including hurricanes, tornadoes and severe thunderstorms – throughout the year. This is important to know, as they play a major role in what you pay for home insurance.
Hurricanes
Mississippi is no stranger to hurricanes. Unfortunately for the state’s homeowners, home insurance covers some of the damage that can result from a hurricane, but not all of it.
For example, standard home insurance usually covers wind damage. If you live in certain parts of Mississippi, such as by the coast, though, your home insurance may exclude it. In that case, you need to buy a separate windstorm insurance policy to protect your home from wind and even hail damage.
To protect your home from flood damage caused by a hurricane, you need separate flood insurance coverage. You can buy flood insurance from companies who take part in FEMA's National Flood Insurance Program (NFIP), as well as from some independent insurance providers.
Tornadoes
Mississippi experiences a lot of tornadoes each year, too. Although your home insurance policy may cover hail or wind damage caused by a tornado in some parts of Mississippi, it may not cover that damage if you live near or on the coast.
If you’re in the second situation, you’ll need windstorm insurance to fully protect you and your home from tornado damage. Can’t find a windstorm policy you can afford? Contact the Coastal Property Insurance Pool (CPIP). It offers windstorm and hail coverage to homeowners in 18 coastal Mississippi counties.
Frequently asked questions
Home insurance costs $224 a month in Mississippi, on average.
This is for a policy with $275,000 in dwelling coverage and a $1,000 deductible. If you choose different amounts, your premium will be higher or lower.
Mississippi Farm Bureau has the cheapest home insurance rates in Mississippi, charging an average $199 a month.
State Farm and USAA also offer affordable home insurance rates, averaging $215 and $211 a month, respectively.
Mississippi law does not require homeowners to buy insurance. Most lenders do require home insurance, though, so if you have a mortgage, you’ll likely need to get it.
Methodology
We collected quotes from every ZIP code in Mississippi for a standard HO-3 homeowners insurance policy using the following coverages:
- $275,000 dwelling (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
QuoteWizard.com LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. QuoteWizard.com LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.