With its geographic location in the heart of the tornado-prone Dixie Alley and 62 miles of shoreline along the Gulf of Mexico, residents of Mississippi have endured their fair share of severe tornados and tropical storms. While home insurance rates tend to skew higher in Mississippi, there are plenty of affordable options all over the state, according to our research.
Compare the best homeowners insurance companies in Mississippi
Based on Policygenius' analysis of the most widely available insurance companies in the state, State Farm, Nationwide, Farmers, Allstate, and Travelers are Mississippi's best homeowners insurance companies in 2023.
To come up with our top picks, we looked at the 10 Mississippi companies with the highest market share in the state and chose the five with the highest overall Policygenius rating. Our ratings are based on each company's financial strength and customer satisfaction ratings, the number and quality of available coverages, and average policy premiums in 424 Mississippi ZIP codes.
Company | Best for... | Average monthly cost | Policygenius rating |
|---|---|---|---|
Overall | $251 | 4.8 out of 5 | |
Lots of coverage add-ons | $126 | 4.5 out of 5 | |
Flood insurance through the NFIP | $283 | 4.5 out of 5 | |
Low rates & claims-free rewards | $114 | 4.4 out of 5 | |
Easy claims filing | $431 | 4.4 out of 5 |
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
Best overall homeowners insurance in Mississippi: State Farm
2023 Policygenius award winner
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
All 50 states
Why we chose it
State Farm is the best overall home insurance company in Mississippi due to its statewide availability, wide range of policy options for homes of all shapes and sizes, high marks for customer service, and its industry-best financial stability ratings.
Pros and cons
Pros
High customer satisfaction and financial strength ratings
Top-tier coverage add-ons, including extended replacement cost coverage
Offers large discounts when you bundle your home and auto insurance
Cons
20% more complaints filed with the NAIC than other companies of its size
No discounts for first-time homebuyers
More details
Why we chose State Farm
As the largest home insurance provider in Mississippi, State Farm is best known for its easy-to-reach and dependable customer service. And this goes for all steps of the the customer journey — from shopping and setting up your policy to making changes to your coverage to filing a claim.
What makes this possible is State Farm's extensive network of local agents who understand the weather risks and overall coverage needs of their community.
Plus, while many competitors don't have the financial strength to pay out claims after several natural disasters in the same year, State Farm isn't one of them. It earns the highest rating possible from A.M. Best for financial strength and stability — only six insurance companies out of nearly 70 we reviewed hold this title.
How do State Farm home insurance rates compare to the Mississippi average?
The average cost of State Farm home insurance in Mississippi is $3,007 per year, which is about 15% more expensive than the average annual premium in Mississippi of $2,624.
How to get a quote
Online through State Farm or by contacting your local State Farm agent.
Best for lots of coverage add-ons: Nationwide
2023 Policygenius award winner
Nationwide
4.6
Bundle home & auto
Mobile app
New homebuyer discount
Offers extended replacement cost
Why we chose it
Nationwide offers an impressive selection of home insurance coverages for both standard and high-net worth Colorado homes, offering extended and guaranteed home replacement coverages and broad "all-risks" coverage for your home and personal belongings.
Pros and cons
Pros
Up to 14 additional coverage options, such as guaranteed and extended replacement cost, all-risk protection, and better roof replacement coverage
Among the highest-ranked companies for claims satisfaction with J.D. Power
Average annual premium is 43% cheaper than the statewide average
Cons
Customer satisfaction and digital shopping experience ratings are below the segment average with J.D. Power
More details
Why we chose Nationwide
Nationwide is best known for its robust home and personal property coverage add-ons — something Mississippi homeowners should consider given the recent uptick in tornadoes and other extreme weather events.
Nationwide customers in Mississippi can choose from extended or guaranteed replacement cost coverages to increase their home's structural protection and ensure they have enough dwelling coverage to rebuild after a tornado or tropical storm. If your home is damaged or destroyed by a covered event, Nationwide's signature "better roof replacement" coverage will replace your roof with stronger materials than what you had before.
Keep in mind that both of these additional coverages don't come standard with Nationwide — you need to pay extra for them. But if you're looking for the best in comprehensive protection and claims satisfaction, Nationwide seems like a no-brainer.
How do Nationwide home insurance rates compare to the Mississippi average?
The average cost of Nationwide home insurance in Mississippi is $1,506 per year, which is around 43% cheaper than the annual statewide average of $2,624.
How to get a quote
Online through Policygenius or Nationwide
Best for flood insurance through the NFIP: Farmers
2023 Policygenius award winner
Farmers
4.5
Offers extended replacement cost
Bundle home & auto
Smart home discounts
Why we chose it
Farmers is one of the best home insurance companies in Mississippi thanks to its wide array of coverage options, including flood insurance through the National Flood Insurance Program.
Pros and cons
Pros
Flood insurance through the NFIP is available
Receives few complaints from policyholders and has a high claims satisfaction score
Optional extended or guaranteed replacement cost dwelling coverage
Cons
Below-average scores on J.D. Power’s overall customer satisfaction and digital experience surveys
Rates are 29% more expensive than the statewide average
More details
Why we chose Farmers
Farmers is one of the best home insurance companies in Mississippi, especially if you want to add flood insurance protection through the National Flood Insurance Program (NFIP). Additional coverages you can also add on to your Farmers policy include guaranteed or extended replacement cost coverage, water backup protection, and a personal articles floater.
Farmers also earned a high score in J.D. Power’s 2022 claims satisfaction study (though it scored below average on J.D. Power’s overall customer satisfaction and digital experience surveys). Plus, Farmers receives fewer complaints than average, according to the National Association of Insurance Commissioners.
How do Farmers home insurance rates compare to the average in Mississippi?
The average cost of Farmers home insurance in Mississippi is $3,393 per year, which is 29% more expensive than the state's average annual premium of $2,624 per year.
How to get a quote
Online through Farmers
Best for low rates & claims-free rewards: Allstate
2023 Policygenius award winner
Allstate
4.5
Bundle home & auto
Smart home discounts
Wind/hail deductible
Why we chose it
Allstate is one of the top home insurance companies in Mississippi. Its rates are lower than average in the state, and Allstate also deductible perks and lower rates each year you go without filing a claim.
Pros and cons
Pros
Rates are 48% cheaper than the state average
Deductible perks & rate discounts each year you go without filing a claim
Offers water backup protection, other endorsements
Cons
Beginning to pull back coverage in high-risk areas
Below-average digital experience rating with J.D. Power
More details
Why we chose Allstate
Allstate is a top home insurance company in Mississippi. Its rates are lower than the statewide average, plus you can save money on your premiums and deductible each year you go without filing a claim.
We also like that Allstate offers some home insurance coverages that you can add to your policy for more protection, like water backup protection, scheduled personal property coverage, and identity theft restoration coverage.
If you're looking to cover your short-term rental, Allstate's HostAdvantage is another perk. HostAdvantage comes with theft protection, coverage for your damaged property ($10,000 per host period), and a $25 discount on cleaning services from Merry Maids.
How do Allstate home insurance rates compare to the Mississippi average?
The average cost of Allstate home insurance in Mississippi is $1,372 per year, which is 48% cheaper than the statewide average of $2,624 per year.
How to get a quote
Online through Policygenius or Allstate, or by contacting a local Allstate agent
Best for easy claims filing: Travelers
Travelers
4.4
Bundle home & auto
New homebuyer discount
Mobile app
Offers extended replacement cost
Offers flood insurance
Why we chose it
Travelers offers some of the best homeowners insurance in Mississippi despite higher-than-average rates thanks to several ways to file claims, industry-best financial ratings, and flexible policy options for most home types.
Pros and cons
Pros
File claims online, by phone, or through its mobile app
Doesn’t require prior insurance on the home
Offers short-term rental coverage for Airbnb hosts
Cons
Rates are 97% higher than the statewide average
Subpar customer service ratings with J.D. Power
Underwhelming number of available discounts
More details
Why we chose Travelers
Travelers is a reputable home insurance provider that offers comprehensive policy options and easy claims filing. Travelers gives you the option to file your claim and upload relevant documents online through its special claim center or through its MyTravelers mobile app. You can also report a claim via Travelers’ 24/7 claims hotline.
Another one of Travelers's benefits is its willingness to cover risks that other insurance companies won't. These risks include no prior insurance coverage, coverage for short term rentals, and liability protection for trampoline injuries if it's fitted with protective netting.
How do Travelers home insurance rates compare to the Mississippi state average?
The average cost of Travelers home insurance in Mississippi is $5,176 per year, which is almost double the state average annual premium of $2,624.
How to get a quote
Online through Policygenius or Travelers
How much is homeowners insurance in Mississippi?
The average cost of homeowners insurance in Mississippi is $2,624 per year or $219 per month — this is 50% more expensive than the national average of $1,754 per year.
Mississippi homeowners insurance rates by city
Looking at average home insurance costs for the 20 largest cities in Mississippi, we found that Pascagoula has the cheapest homeowners insurance in the state, followed by Gulfport and Southaven.
City | Average monthly cost | Average annual cost | Difference from state average (%) |
|---|---|---|---|
Jackson | $250 | $3,000 | 14% |
Gulfport | $199 | $2,383 | -9% |
Southaven | $199 | $2,384 | -9% |
Biloxi | $200 | $2,404 | -8% |
Hattiesburg | $232 | $2,788 | 6% |
Olive Branch | $203 | $2,432 | -7% |
Tupelo | $209 | $2,509 | -4% |
Meridian | $206 | $2,468 | -6% |
Greenville | $214 | $2,567 | -2% |
Madison | $212 | $2,543 | -3% |
Pearl | $216 | $2,595 | -1% |
Clinton | $211 | $2,535 | -3% |
Horn Lake | $201 | $2,413 | -8% |
Oxford | $199 | $2,393 | -9% |
Brandon | $205 | $2,456 | -6% |
Ridgeland | $214 | $2,568 | -2% |
Starkville | $199 | $2,388 | -9% |
Columbus | $206 | $2,471 | -6% |
Pascagoula | $188 | $2,257 | -14% |
Vicksburg | $227 | $2,719 | 4% |
Mississippi homeowners insurance rates by coverage amount
One of the most important (and expensive) parts of your home insurance policy is your dwelling coverage, since it protects the physical structure of your home from covered hazards like hurricanes and fires.
How much dwelling coverage you purchase should be based on the replacement cost of your home — not its market value. That means even if you paid $600,000 for a home that would really only cost $400,000 to rebuild — you’d only need $400,000 in dwelling coverage.
The table below highlights the average annual premium in Mississippi for five different levels of dwelling coverage.
As you can see, the higher your dwelling coverage limit, the higher your premiums. In Mississippi, the most significant rate jump occurs in the $400,000 to $500,000 range — with an over $800 difference in premiums between these two coverage levels.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $1,207 |
$200,000 | $1,918 |
$300,000 | $2,624 |
$400,000 | $3,363 |
$500,000 | $4,227 |
Cheapest homeowners insurance companies in Mississippi
Based on our analysis, Allstate, Nationwide, and Farm Bureau are the three cheapest home insurance companies in Mississippi, with statewide average premiums ranging from $1,372 to $1,833 per year.
USAA and State Farm are also among the most affordable home insurance carrier options for Mississippi residents in 2023, as detailed in the table below.
Company | Average annual cost |
|---|---|
$1,372 | |
$1,506 | |
$1,833 | |
$2,059 | |
$3,007 | |
$3,304 | |
$3,393 | |
$5,176 |
Cheapest Mississippi homeowners insurance if you have poor credit
Just as your credit score may affect your mortgage or car loan, having poor credit can also increase your insurance rates. Since customers with better credit are more likely to pay for repairs out of pocket rather than file a claim, insurers consider them to be lower risk to insure.
Not all companies follow this practice, however, so if you have poor credit, it’s best to shop around for the best rate.
With an average rate of $1,623 per year, Nationwide has the cheapest home insurance rates in Mississippi for a homeowner with poor credit, while Foremost's average yearly premium of $6,643 is the highest.
Company | Average annual cost |
|---|---|
Nationwide | $2,033 |
Allstate | $2,714 |
Farm Bureau Insurance | $3,135 |
USAA | $3,447 |
State Farm | $5,166 |
Farmers | $5,831 |
Foremost | $6,643 |
Cheapest Mississippi homeowners insurance if you have an older home
The median age of homes in Mississippi is 36 years old, according to an analysis of U.S. census data by House Method. And like everything else, the age of your home plays a role in how much you pay for home insurance in Mississippi.
Older and historic homes are usually more expensive to insure than newer homes. This is because insurers consider them a higher risk than newer homes since they can be fragile, their construction materials may be obsolete, and certain structural components like the roof or plumbing may not be in good shape or up to current-day code. Because of this, they'll charge higher premiums to offset the risk.
Here's the cheapest home insurance in Mississippi for a 50-year-old home:
Company | Average annual cost |
|---|---|
Allstate | $1,288 |
Nationwide | $1,661 |
Farm Bureau Insurance | $2,001 |
USAA | $2,260 |
State Farm | $3,003 |
Farmers | $3,019 |
Foremost | $3,454 |
Travelers | $6,773 |
Cheapest Mississippi homeowners insurance if you have a history of claims
One of the biggest factors that plays a role in your home insurance premium is your claims history. You'll typically pay more for home insurance if you have multiple claims on your record, since insurers perceive you as posing a greater risk of filing more.
Here's the cheapest home insurance companies in Mississippi for a homeowner with three claims within a five-year period.
Company | Average annual cost |
|---|---|
Farm Bureau Insurance | $2,508 |
Allstate | $2,622 |
State Farm | $3,160 |
Nationwide | $3,409 |
USAA | $3,665 |
Foremost | $5,509 |
Travelers | $7,395 |
Coverage options in Mississippi for hurricanes and flooding
In addition to looking at how much each insurance company charges for different coverage levels and risks, you should also be aware of what your policy does and doesn’t cover.
When buying homeowners insurance in Mississippi, there are two additional insurance options you may need to consider to protect against the state’s frequent hurricanes and flooding.
Windstorm insurance
Homeowners insurance generally covers the cost of repairs if your home is damaged by wind or hail. However, since Mississippi sees frequent hurricanes, tropical storms, and tornadoes, policies often exclude coverage for wind and hail in high-risk areas.
If that’s the case, you’ll need windstorm insurance — a special type of property insurance that specifically covers your home and belongings from wind or hail damage. Windstorm insurance is sometimes available as an add-on to your homeowners insurance, though it can also be purchased as a separate wind-only policy.
Flood insurance
Most homeowners insurance policies don’t cover flood damage, so Mississippi residents in at-risk areas will want to consider flood insurance on top of their coastal home insurance policy.
In addition to comparing home insurance quotes, Mississippi homeowners can also compare private flood insurance rates with Policygenius, or choose a policy through a government entity like the National Flood Insurance Program.
Learn more >> Flood insurance costs in 2023
How to buy homeowners insurance in Mississippi
With its location along the coast and in the heart of Dixie Alley, Mississippi homeowners in high-risk areas will want to make sure they have more than enough dwelling coverage to pay for a full rebuild after a catastrophic storm. Additionally, residents in floodplains should consider purchasing separate flood insurance.
Frequently asked questions
What is the average cost of a home insurance policy in Mississippi?
The average home insurance rate in Mississippi is $219 a month or $2,624 per year. That’s nearly $1,000 more per year than the national average.
Am I required to have home insurance in Mississippi?
With its location in Dixie Alley, Mississippi homeowners face severe weather including damaging tornadoes and straight-line winds many times throughout the year. While it isn’t a requirement to have insurance, most mortgage lenders will require you to carry home insurance before loaning you money, ensuring their investment is protected when the storms come.
How can I lower the cost of my home insurance in Mississippi?
The easiest way to lower your home insurance costs is by reviewing quotes from top companies with Policygenius. Once you’ve reviewed your options, we can help you find discounts and the best deductible that works within your budget.
Why do some insurance companies charge higher rates to customers with a swimming pool?
Insurance companies consider swimming pools to be a liability risk and often charge customers higher home insurance rates. Homeowners should have enough liability coverage to cover their assets if someone sues after an injury on their property.
