Best and Cheapest Home Insurance Companies in Mississippi

Best and Cheapest Home Insurance Companies in Mississippi

Travelers offers the best deal on home insurance in Mississippi, at $1,013 per year.

Compare Home Insurance Quotes from Companies in Mississippi

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To help Mississippi homeowners get the best rate for home insurance, we collected thousands of quotes and evaluated satisfaction ratings from some of the largest insurance companies across the state.

Best cheap home insurance in Mississippi

Cheapest home insurance in Mississippi

Travelers offers the best quote for home insurance in Mississippi at $1,013 per year. That’s 19% cheaper than the average rate of $1,257.

The average cost of home insurance in Mississippi is $1,257 per year.

Cheapest home insurance in Mississippi

Compare Home Insurance Quotes from Companies in Mississippi

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The most expensive homeowners insurance company in Mississippi is Nationwide, where coverage can cost over $1,500 per year.

Company
Annual cost
Travelers logo
Travelers$1,013
Allstate logo
Allstate$1,128
Farm Bureau logo
Farm Bureau$1,205
State Farm logo
State Farm$1,268
USAA logo
USAA$1,395
Nationwide logo
Nationwide$1,533

Best homeowners insurance overall: Travelers

Cheap rates and great customer satisfaction ratings make Travelers the best insurance company for most homeowners in Mississippi.
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The good:

  • Cheapest average rate
  • High customer satisfaction
  • Multiple unique add-ons

The bad:

  • Expensive hurricane coverage
  • Limited discounts

Travelers offers the best home insurance in Mississippi. The company boasts the cheapest rate at $1,013 per year and covers everything from standard policy coverages to unique endorsement options other home insurance companies might not offer.

In addition to standard coverages, Travelers offers unique endorsements like replacement cost coverage for your belongings, which pays to purchase new items to replace damaged items without considering their depreciated value. You can also get water backup and sump pump coverage, which covers damage from sewer or drain water backups.

Travelers earned a 0.67 rating in the National Association of Insurance Commissioners (NAIC) complaint index. This means that the company receives 37% fewer complaints than other insurance companies relative to its size.

The most notable downside to Travelers is that hurricane coverage is the most expensive in Mississippi, at an average rate of $3,607 per year. This is $1,824 per year more expensive than the average rate of $1,783 per year, and $2,402 more expensive than the cheapest option.

You also won't find many unique discounts other than standard discounts for bundling, buying a new home and not making claims.

Best insurance for hurricane coverage: Farm Bureau

Farm Bureau offers the cheapest rate for homeowners insurance that covers hurricane damage to your home.
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The good:

  • Cheap rates for severe weather damage
  • Uncommon discounts

The bad:

  • Membership required

The cheapest insurance policy for hurricane and severe storm damage in Mississippi comes from Farm Bureau, which sells policies at an average rate of $1,205 per year, or $100 per month. This is 32% cheaper than the average rate of hurricane insurance policies in Mississippi.

The company makes it easy to file a claim with 24/7 online access to an agent, as well as outlined steps of what to do if your property has suffered damage. It also offers discounts with other partnered companies that are only exclusive to Farm Bureau members, like 10% off at Columbia, 20% off Garmin devices and up to 40% off at all Extended Stay America hotels.

Farm Bureau scored a 0.54 in the customer complaint index from the NAIC, meaning the company receives 46% fewer complaints compared to companies of a similar size. This suggests that most customers are satisfied with Farm Bureau’s support.

One key downside to Farm Bureau is that you must possess a paid membership in order to receive benefits. You can sign up for a membership by contacting a local chapter near you. Anyone can qualify, but membership costs depend on where you live and can be as little as $20 up to $120 per year.

Best for bundling home insurance: Allstate

Allstate offers the best discount when you combine multiple policies.
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The good:

  • Cheap rates
  • Best discount on bundling
  • Several rare discounts

The bad:

  • Average customer service

Allstate is the best option for bundling multiple policies, potentially offering a 25% discount when you combine homeowners and auto insurance. The company also boasts the second-cheapest rate in Mississippi, with an average cost of $1,128 per year, or $94 per month. This is $129 cheaper than the state average rate of $1,257 per year.

Allstate also provides several other discounts that are easy to qualify for, like 10% off for switching your insurance to Allstate, 5% off when you sign up for autopay and 10% off if you sign a new policy at least one week before your old policy expires. You can also earn 20% off if you switch to Allstate from a different insurer without any recent claims.

The only downside is that Allstate’s customer service is subpar. The company scored a 1.27 in the NAIC index, meaning the company receives 27% more complaints than other insurance companies relative to its size.

Best home insurance for military families: USAA

USAA offers the best military-specific benefits for service members and their families.
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The good:

  • Excellent customer service
  • Great for military-specific benefits

The bad:

  • Expensive rates

USAA is the top home insurance option for military members in Mississippi. The company provides benefits specific to service members that include personal property coverage for claims on military-issued gear and equipment, as well as property coverage while you're stationed away from home or overseas for long periods of time. These are benefits for service members that most other insurance companies don’t provide.

USAA also scored an impressive 0.50 in the NAIC complaint index, meaning the company receives 50% fewer complaints than other insurers similar in size.

One big disadvantage of USAA is that its average rate is $138 per year more expensive than the state average. USAA is also only available to cover U.S. active and reserve service members, veterans, and their families, as well as dependents of existing policyholders.

Mississippi insurance rates: City-by-city breakdown

Starkville is the cheapest city for home insurance in Mississippi, with an average rate of $995 per year. This is 21% cheaper than the state average rate of $1,257 per year. Starkville lies in western Mississippi and is home to Mississippi State University.

Pascagoula is the most expensive city for home insurance in Mississippi, with an average cost of $2,147 per year. This is 71% higher than the state average rate of $1,257 per year for home insurance. The city covers the eastern side of the state’s coast on the Gulf of Mexico, meaning it is heavily affected by hurricanes.

City
Average annual cost
Difference from state average
Abbeville$1,040-17%
Aberdeen$1,085-14%
Ackerman$1,085-14%
Alcorn State University$1,2701%
Algoma$1,3145%
Show All Rows

Best home insurance companies in Mississippi

USAA and Farm Bureau are the best-rated home insurance companies in Mississippi.

USAA offers the best support and benefits specific to military members and their families. Farm Bureau offers affordable home insurance plus support after a hurricane or severe storm damages your home.

Company
Rating
Farm Bureau
USAA
State Farm
Nationwide
Travelers
Allstate

Most common homeowners insurance risks in Mississippi

Mississippi borders the Gulf of Mexico to the south, meaning it is frequently impacted by hurricanes or large tropical storms. The state also sees between 30 and 100 tornadoes per year, meaning home insurance that covers wind and hail damage is a necessity for most Mississippi homeowners.

Is wind damage covered by home insurance?

With the climate and location of Mississippi, it’s important to ensure your policy covers damage from high winds. Most basic insurance policies include coverage for wind damage, but it’s important to check your policy to ensure wind damage from a hurricane is covered. Your policy may charge you a separate or higher deductible for damage caused by hurricane winds.

Is flood damage covered by home insurance?

Most homeowners insurance policies don't protect your property against flood damage by a hurricane or Mississippi's heavy rainfall, which the National Oceanic and Atmospheric Administration (NOAA) says has continued to be above-average. Since the state is one of the lowest-lying in the country, flood damage may be a big risk for most homeowners.

Unfortunately, most home insurance policies exclude flood damage. You'll need a flood insurance policy from the National Flood Insurance Program (NFIP) or a private insurance company if you want coverage for flooding.

Frequently asked questions

How much is home insurance in Mississippi?

The average cost of homeowners insurance in Mississippi is $1,257 per year, or about $105 per month. That’s 17% cheaper than the national average of $1,516 per year.

Who has the cheapest home insurance in Mississippi?

Travelers offers the cheapest home insurance in Mississippi at an average rate of $1,013 per year, or just $84 per month.

Who offers the best home insurance coverage for hurricane damage in Mississippi?

Farm Bureau offers the best rate for home insurance that covers damage from hurricanes or severe storms in Mississippi. The company’s average rate is $1,205 per year, or $100 per month. This is 32% cheaper than the state average rate for hurricane insurance, which is $1,783 per year.

Methodology

We collected home insurance quotes for every ZIP code across Mississippi from the largest home insurance companies in the state. Our sample home insurance profile was for a home built in 1983 worth $119,000, based on U.S. Census Bureau data for the average Mississippi home.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.

We ranked each company's customer service scores by comparing the National Association of Insurance Commissioners (NAIC) complaint index, J.D. Power's home insurance customer satisfaction rankings and our ValuePenguin editor's ratings.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.