The Best Homeowners Insurance in Mississippi for 2024 - NerdWallet (2024)

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The average cost of homeowners insurance in Mississippi is $3,475 per year, or about $290 per month, according to a NerdWallet analysis. For comparison, the national average is $1,915 per year.

NerdWallet analyzed data from numerous insurance companies to help you find the best home insurance in Mississippi in the following categories:

  • Best for affordability: Travelers.

  • Best for coverage: Openly.

  • Best for consumer experience: Nationwide.

The rates in our analysis are estimates based on many factors, so your rate may differ.

Note: Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state.

What’s new in Mississippi?

The state legislature recently passed a law stating that homeowners insurers in Mississippi aren’t allowed to deny or cancel a policy based only on the age of the home’s roof. This law applies to policies issued or renewed on or after July 1, 2024.

Why you should trust NerdWallet

Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our writing and data analyses. You can trust the prices we show you because our data analysts take rigorous measures to eliminate inaccuracies in pricing data and may update rates for accuracy as new information becomes available.

We include rates from every locale in the country where coverage is offered and data is available. When comparing rates for different coverage amounts and backgrounds, we change only one variable at a time, so you can easily see how each factor affects pricing.

Our sample homeowner had good credit, $300,000 of dwelling coverage, $300,000 of liability coverage and a $1,000 deductible.

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Best affordable homeowners insurance in Mississippi: Travelers

The Best Homeowners Insurance in Mississippi for 2024 - NerdWallet (2)

Travelers

4.5

NerdWallet rating

Lots of coverage options, decent discounts and a strong online experience.

Compare My Rates

Coverage options

About average

Discounts

Average set of discounts

NAIC complaints

Fewer than expected

The Best Homeowners Insurance in Mississippi for 2024 - NerdWallet (3)

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Travelers

4.5

NerdWallet rating

Lots of coverage options, decent discounts and a strong online experience.

In Mississippi, the average annual premium for Travelers is $2,240, which is well below the state average of $3,475.

Travelers offers a robust online experience. You can use the website to get a homeowners insurance quote, file and track claims, make payments, and learn about insurance basics.

Its coverage offerings are similarly strong. For example, you may be able to add extra coverage in case the dwelling limit on your home isn’t enough to rebuild your house after a disaster. One unique option is Travelers’ green home coverage, which pays extra if you want to use eco-friendly materials when repairing or rebuilding your home after a covered claim.

Learn more in our Travelers homeowners insurance review.

Best homeowners insurance in Mississippi for coverage: Openly

The Best Homeowners Insurance in Mississippi for 2024 - NerdWallet (4)

Openly

4.5

NerdWallet rating

Premium coverage for high-end homes with no dog breed restrictions.

Compare My Rates

Coverage options

About average

Discounts

Average set of discounts

NAIC complaints

Far fewer than expected

The Best Homeowners Insurance in Mississippi for 2024 - NerdWallet (5)

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Openly

4.5

NerdWallet rating

Premium coverage for high-end homes with no dog breed restrictions.

Coverage options

About average

Discounts

Average set of discounts

NAIC complaints

Far fewer than expected

Openly’s default homeowners policy goes significantly beyond those of many other insurers. Most notably, it offers guaranteed replacement cost coverage for the structure of your home. That means if your house is destroyed by a covered disaster, Openly will pay whatever it takes to rebuild it the way it was before, up to $5 million.

Plus, if your things are stolen or destroyed, Openly will pay enough for you to buy brand-new replacements, rather than paying less for older items that have lost value over time. It also covers your belongings on an “open perils” basis, paying for damage from anything except scenarios your policy excludes. Most home insurance policies cover damage only from causes specifically named in your policy.

Learn more with our Openly home insurance review.

Best homeowners insurance in Mississippi for consumer experience: Nationwide

The Best Homeowners Insurance in Mississippi for 2024 - NerdWallet (6)

Nationwide

4.5

NerdWallet rating

For shoppers seeking a broad range of coverage options, Nationwide may fit the bill.

Compare My Rates

Coverage options

About average

Discounts

Great set of discounts

NAIC complaints

Close to expected

The Best Homeowners Insurance in Mississippi for 2024 - NerdWallet (7)

Compare My Rates

Nationwide

4.5

NerdWallet rating

For shoppers seeking a broad range of coverage options, Nationwide may fit the bill.

Coverage options

About average

Discounts

Great set of discounts

NAIC complaints

Close to expected

Nationwide's website makes it easy to manage policies, file and track claims, and set up automatic billing. The company also has a highly rated app for Android and iOS that allows customers to file and track claims, review policy documents, and set up autopay.

In addition, Nationwide’s customers have several ways to get assistance, such as reaching out to their agent or calling the company’s customer service hotline. Outside of business hours, they can use the Nationwide website to get proof of insurance, pay bills and schedule callbacks. A chatbot is also available to answer basic questions.

Learn more with our Nationwide homeowners insurance review.

Full list of the best homeowners insurance in Mississippi

NerdWallet analyzed home insurance companies across the state to find the best home insurance in Mississippi. Here are all of the insurers that received a NerdWallet star rating of 4.5 or higher:

Company

NerdWallet star rating

Average annual rate

Amica

5.0

NerdWallet rating

Not available

Chubb

5.0

NerdWallet rating

Not available

Nationwide

4.5

NerdWallet rating

$4,475

Openly

4.5

NerdWallet rating

Not available

State Farm

4.5

NerdWallet rating

$2,350

Travelers

4.5

NerdWallet rating

$2,240

USAA*

5.0

NerdWallet rating

$2,375

*USAA homeowners policies are available only to active military, veterans and their families.

» MORE: The best home insurance companies

How much does homeowners insurance cost in Mississippi?

The average annual cost of home insurance in Mississippi is$3,475. That’s 81% more than the national average of $1,915.

In most U.S. states, including Mississippi, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.

In Mississippi, those with poor credit pay an average of $6,775 per year for homeowners insurance, according to NerdWallet’s rate analysis. That’s 95% more than those with good credit.

» MORE: How your credit score affects homeowners insurance

Average cost of homeowners insurance in Mississippi by city

How much you pay for homeowners insurance in Mississippi depends on where you live. For instance, the average cost of home insurance in Jackson is $3,800 per year, while homeowners in Gulfport pay $5,030 per year, on average.

City

Average annual rate

Average monthly rate

Biloxi

$5,365

$447

Brandon

$3,125

$260

Canton

$3,200

$267

Clinton

$3,755

$313

Columbus

$3,000

$250

Greenville

$3,465

$289

Gulfport

$5,030

$419

Hattiesburg

$4,585

$382

Hernando

$2,755

$230

Jackson

$3,800

$317

Laurel

$4,135

$345

Lucedale

$2,905

$242

Madison

$3,200

$267

Meridian

$3,035

$253

Moss Point

$5,250

$438

Natchez

$3,295

$275

Ocean Springs

$5,365

$447

Olive Branch

$2,755

$230

Oxford

$2,755

$230

Pearl

$3,125

$260

Picayune

$2,775

$231

Southaven

$2,755

$230

Starkville

$2,905

$242

Tupelo

$2,760

$230

Vicksburg

$3,100

$258

» MORE: What’s the average cost of homeowners insurance?

The cheapest home insurance in Mississippi

Here are the insurers we found with average annual rates below the Mississippi average of $3,475.

Company

NerdWallet star rating

Average annual rate

Travelers

4.5

NerdWallet rating

$2,240

State Farm

4.5

NerdWallet rating

$2,350

Mississippi Farm Bureau

Not rated

$3,170

USAA*

5.0

NerdWallet rating

$2,375

*USAA homeowners policies are available only to active military, veterans and their families.

» MORE: The cheapest homeowners insurance

What to know about Mississippi homeowners insurance

You may face certain risks when living in Mississippi. Here are a few of the most common, along with steps you can take to insure your home properly against them.

Hurricanes

Wind damage is typically covered by a standard homeowners insurance policy. However, residents of coastal areas may have windstorm exclusions or a separate wind deductible. A wind deductible may be a flat rate, such as $1,000, or a percentage of your dwelling coverage. For example, your policy may have a $1,000 deductible for most claims and a 1% deductible for hail or wind claims. So if your house has $250,000 worth of dwelling coverage, you’d have to pay for the first $2,500 of wind damage yourself.

If your policy doesn’t cover wind damage, you may be able to purchase separate wind coverage from the Mississippi Windstorm Underwriting Association.

» MORE: Complete guide to hurricane insurance

Flooding

Flood damage is not typically covered by standard homeowners insurance; you’ll need to buy a separate flood insurance policy.

To find out if you’re at risk, check out the Federal Emergency Management Agency’s flood maps or visit RiskFactor.com, a website from the nonprofit First Street Foundation. Even if your property is deemed low risk, it may be worthwhile to purchase flood insurance for extra peace of mind.

Remember that while you can purchase flood coverage anytime, there’s typically a 30-day waiting period before the insurance takes effect. Here’s more information about flood insurance and waiting periods.

» MORE: Why you might want flood insurance — even if it’s not required

Tornadoes

Standard homeowners insurance will cover tornado damage, but some policies may carry a separate deductible for wind damage, as described in the hurricane section.

» MORE: Does homeowners insurance cover tornado damage?

Thunderstorms

Hail damage is often covered by standard policies but as with wind damage, you may have a separate deductible for hail claims.

» MORE: Home insurance calculator: Estimate your rate

Mississippi insurance department

The Mississippi Insurance Department oversees the state’s insurance industry and provides consumer protection and resources. For example, its website includes guides to shopping for homeowners insurance in Mississippi, a hurricane insurance checklist and other disaster preparedness information.

You can file a complaint against your insurance company with the Mississippi Insurance Department by mail, fax or online form. If you have questions about filing a complaint or need help, you can request assistance by email at [emailprotected] or toll-free at 800-562-2957.

The Best Homeowners Insurance in Mississippi for 2024 - NerdWallet (8)

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Looking for more insurance in Mississippi?

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Frequently asked questions

Is homeowners insurance required in Mississippi?

Homeowners insurance isn’t legally required in Mississippi, but your mortgage lender may require you to buy it. For more information, read Is Homeowners Insurance Required?

Does Mississippi homeowners insurance cover flooding?

A standard homeowners policy typically doesn’t cover flooding. That means you may want to buy separate flood insurance if your home is in a high-risk area. Learn how to find the best flood insurance.

How can I save money on home insurance in Mississippi?

There are several ways to save money on homeowners insurance in Mississippi:

  • Shop around to make sure you’re getting the best rate.

  • Choose a higher deductible. In case of any claims, you’ll pay more out of pocket, but your premiums will be lower.

  • Bundle your home and auto insurance for a lower overall rate. See the best home and auto insurance bundles.

  • Ask your insurer if you qualify for any home insurance discounts.

Amanda Shapland contributed to this story.

The Best Homeowners Insurance in Mississippi for 2024 - NerdWallet (2024)

FAQs

What is the average cost of homeowners insurance in Mississippi? ›

The average annual cost of home insurance in Mississippi is $3,475. That's 81% more than the national average of $1,915. In most U.S. states, including Mississippi, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.

How much will homeowners insurance increase in 2024? ›

Will homeowners insurance go down in 2024? Unfortunately, home insurance rates will continue to soar in 2024, according to Insurify's analysis. Annual home premiums are expected to jump by an average of 6% nationally, from $2,377 to $2,522.

Which homeowners insurance company has the highest customer satisfaction? ›

The best home insurance companies at a glance
Best home insurance categoryCompany winner
Best for consumer satisfactionAmica
Best coverageAndover Companies
Best for high-value homesChubb
Best for using an agentCountry Financial
2 more rows
Jul 1, 2024

Who has the best rates on homeowners insurance? ›

Top 5 Cheapest Homeowners Insurance Companies
  • State Farm: Our pick for new homeowners.
  • Auto-Owners: Our pick for discounts.
  • Erie: Our pick for customer service.
  • USAA: Our pick for military members.
  • Allstate: Our pick for extended coverage.
Jul 2, 2024

What is the most expensive home insurance? ›

Travelers is the most expensive homeowners insurance company for $200,000, $350,000, $500,000 and $750,000 dwelling coverage amounts. Rates vary significantly among companies because they each have their own formulas for pricing. That means it's vital to comparison shop homeowners insurance quotes when buying a policy.

How much is wind and hail insurance in MS? ›

The average cost of home insurance in the state is $1,674 per year. Besides the risk for windstorms and hurricanes, your Mississippi home insurance premium is also dependent on a host of other factors, including your home's: Construction material.

Should you change home insurance every year? ›

How often should you change homeowners insurance companies? It's recommended to review and reassess your homeowners insurance policy every one to two years, especially if there's been an increase in your premium or any changes in your policy or personal circ*mstances that could affect your rates.

Is house insurance cheaper without a mortgage? ›

No, house insurance isn't cheaper without a mortgage. Your home is vulnerable to the same risks whether you own it outright or are still making payments. Therefore, home insurance providers don't consider your mortgage status during underwriting.

Why is my house insurance so high? ›

Homes in high-risk areas typically have higher premiums. Insurance companies assess the risk associated with your area by looking at the likelihood of severe weather, such as floods, wildfires, and hurricanes, local crime rates, and your home's proximity to a fire station.

Who is the most trusted insurance company? ›

Best Car Insurance Companies of July 2024
Best car insurance categoryCompany winner
Best insurance company overallTravelers
Best insurance company for affordabilityAmerican Family
Best insurance company for accident forgivenessGeico
Best insurance company for having few customer complaintsNJM
4 more rows

Which insurance company has the most complaints? ›

Popular Insurance Companies with the Most Complaints
  • AAA (15.46)
  • Allstate (2.70)
  • USAA (2.27)
  • Liberty Mutual (2.66)
  • Farmers (0.73)
Oct 26, 2021

Which company gives best insurance? ›

Best Health Insurance Companies in India 2024
  • Acko General Insurance Co. ...
  • Bajaj Allianz General Insurance Co. ...
  • Cholamandalam MS General Insurance Co. ...
  • Future Generali India Insurance Co. ...
  • Go Digit General Insurance Ltd. ...
  • HDFC ERGO General Insurance Co. ...
  • ICICI Lombard General Insurance Co. ...
  • IFFCO Tokio General Insurance Co.

What is the cheapest homeowners insurance for seniors? ›

According to our research, Erie and Auto-Owners are the cheapest home insurance companies in the country for most people, including seniors. The national average cost of an Erie home insurance policy is $1,284 per year, while Auto-Owners' average policy is $1,406 per year.

Is a $2500 deductible good home insurance? ›

Is $2,500 a good home insurance deductible? As long as you're comfortably able to pay it in the event of a claim and don't mind footing the bill for smaller losses (say, a broken pipe or stolen laptop), $2,500 is a fine deductible to choose.

Who is the number one home insurance company in America? ›

State Farm is the largest home and auto insurance company in North America, capturing 17.79 percent of the home market and 18.31 percent of auto.

Does Mississippi require homeowners insurance? ›

Mississippi doesn't require homeowners insurance by law, but if you finance your home, your lender may require you to have a homeowners insurance policy in place. Your policy's coverages are designed to safeguard your property and assets.

What is the average annual cost for home insurance per house in the US? ›

The average annual cost of homeowners insurance in the U.S. is $2,511 or $209 per month according to Quadrant Information Services. State Farm is the most affordable home insurance provider for most homeowners. Oklahoma, Nebraska and Texas have the highest average annual home insurance premiums in the U.S.

Is homeowners insurance expensive in Gulfport, MS? ›

Average homeowners insurance cost in Gulfport per month

Gulfport homeowners pay an average of $411 a month, based on our rate analysis.

How much is homeowners insurance in Biloxi, Mississippi? ›

The average cost of homeowners insurance in Biloxi is $4,992 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com's rate data analysis.

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