6 Best Homeowners Insurance Companies in Mississippi of 2023
Mississippi is a state that has much to offer, including natural beauty and a coast on the Gulf of Mexico.
Whether homeowners in the Magnolia State live in large cities such as Jackson or Gulfport or in one of the state’s many small towns like Ocean Springs or Natchez, they need to take steps to protect their homes and families in the event that their house is damaged or destroyed.
Homeowners insurance protects Mississippi homeowners from harsh weather, including the heavy rain and high wind of hurricanes.
At PropertyNest, we believe that buying homeowners insurance shouldn’t be time-consuming or stressful, so we’ve researched to select the best homeowners insurance companies in Mississippi.
The average annual cost of homeowners insurance in Mississippi is $1,775 per year, putting it above the national average, but it’s possible you’ll pay less if you shop around and take advantage of discounts.
Compare Homeowners Insurance Rates in MS
The Best Homeowners Insurance Companies in Mississippi
- Allstate: Best for Tornado Coverage
- Travelers: Best for Affordable Coverage
- Farmers: Best for Extended Liability Coverage
- USAA: Best for Active Military Members and Veterans
- Nationwide: Best for Discounts on Homeowners Insurance
- Mississippi Farm Bureau: Best for Local Service
Allstate: Best for Tornado Coverage
- Available in 50 states & Washington, D.C.
- Quote access: Online & by phone
Allstate Insurance is one of the best property insurance companies in the US and has a reputation for paying claims quickly and with a minimum of fuss.
We selected them for our list because they offer the best coverage for tornados, something that’s a real concern for homeowners in Mississippi.
We also like Allstate’s informative and user-friendly website, which makes it easy to obtain a quote, review coverage, or file and track claims.
Allstate’s average annual homeowners insurance premium in Mississippi is just $1,130 per year, much lower than the state average.
Read a full Allstate homeowners insurance review.
What Homeowners Insurance Discounts Does Allstate Offer in Mississippi?
Allstate offers an impressive list of eight potential homeowners insurance discounts, many of which are easy to qualify for.
- Welcome. Get a 10% discount for switching your insurance to Allstate.
- Early signing. Get a discount if you purchase your Allstate policy at least a week before your old policy expires.
- Bundling. Purchase two or more Allstate policies to save.
- New homeowners. Get this discount if you are a first-time buyer or if you buy a house that’s been newly renovated.
- New roof. Get a discount when you install a new roof on your home.
- Protective devices. You’ll save if your home has installed theft or fire protection devices.
- Claims-free. Get this discount if you have no recent claims on your homeowners insurance.
- Responsible payer. You can save by paying your premiums on time.
Allstate Homeowners Insurance Pros & Cons
- Allstate’s basic policy combines storm and wind coverage to make it the best option to protect your home against tornado damage.
- There are eight discounts to help reduce your premium.
- Allstate’s website is terrific with tons of useful resources.
- You can customize coverage with add-ons such as yard & garden repair, digital identity restoration, and recovery of stolen data.
- HostAdvantage coverage is an option if you rent or share a home.
- The Rate Guard option allows homeowners to lock in their premium to guard against inflation.
- Allstate has a program to help homeowners by coordinating flood claims with FEMA.
- Flood insurance must be purchased separately through FEMA
- Replacement cost coverage is not included in Allstate’s standard policy.
|J.D. Power (out of 1,000)||815|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||2.05|
Travelers: Best for Affordable Coverage
- Multi-Policy Discount.
- Loss-Free Discount.
- Protective Device Discount.
Travelers Insurance has been protecting American consumers with insurance for 160 years making it the oldest company on our list.
We chose Travelers for our list because of all the companies we reviewed, they offer the most affordable rates for Mississippi homeowners insurance.
We also like that they offer stellar customer service and a unique discount for rebuilding with green construction materials.
The average cost of Travelers homeowners insurance in Mississippi is $1,015, which is significantly lower than the state average.
What Homeowners Insurance Discounts Does Travelers Insurance Provide?
Travelers Insurance provides five discounts to help Mississippi homeowners save on their insurance.
- Bundling. You can save as much as 12% if you bundle four or more policies with Travelers.
- Claims-free. Save if you have never filed a claim on your homeowners insurance.
- Home buyer. You could get a discount if you purchased your home within one year of switching to Travelers.
- Green construction. Qualify for this discount if you buy or build a certified green home.
- Protective devices. You’ll save if you have installed burglar alarms, smoke detectors, fire alarms, or a smart home device.
Travelers Homeowners Insurance Pros & Cons
- Travelers has the lowest rates of any insurance company in Mississippi.
- There is a wide array of add-on coverages available, including sump pump protection, water backup coverage, and special coverage for valuable items.
- Travelers has excellent customer service and financial ratings.
- There is a special discount for renovating with green materials.
- Travelers has the least generous bundling option, which requires homeowners to bundle their policy with at least three others to save.
- Travelers mobile app doesn’t work as well for Android users as it does for Apple users, something we wish they would address.
|J.D. Power (out of 1,000)||794|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||3.88|
Farmers: Best for Extended Liability Coverage
- Available in 42 states
- Quote access: Online & by phone
Farmers Insurance got its start in California in 1928; today, the company offers homeowners insurance in 41 states, including Mississippi.
We selected Farmers for our list because they are the best option for homeowners who want a high liability limit to protect them in the event that someone is injured in their home.
We also appreciate Farmers’ reasonable prices, tiered coverage, and superior customer service.
Mississippi homeowners pay an average of $2,065 per year for insurance, which is higher than the state average, but it’s possible to save by layering discounts.
Read a full Farmers homeowners insurance review.
Farmers Homeowners Insurance Discounts
Farmers Insurance offers four discounts to help Mississippi residents save money on their homeowners insurance.
- Bundling. Buy two or more policies to save.
- Claims-free. You can get a discount if you have gone three or more years without a claim.
- No smoking. Farmers Insurance is the only company on our list to offer a discount for non-smokers.
- Security. You’ll save if you have an installed fire alarm or a security system that communicates with local authorities.
Farmers Homeowners Insurance Pros & Cons
- Farmers Insurance has a very low volume of customer complaints and has received high ratings for service.
- There are unique coverage tiers to help you customize your policy.
- Farmers Insurance offers a declining deductible option to lower your deductible by $50 per year.
- If you are claims-free for five years, the company guarantees that your premium will not increase the next time you have a claim.
- Quotes must be obtained through a Farmers agent and are not available online.
- Costs are higher than the Mississippi state average.
- While the customer support is excellent, it is not available around the clock.
|J.D. Power (out of 1,000)||792|
|A.M. Best - Financial Strength Rating||A|
|NAIC Complaint Index||0.56|
USAA: Best for Active Military Members and Veterans
Mississippi is home to four military bases, including Keesler AFB, the largest base in the state.
We chose USAA for our list of the best homeowners companies in Mississippi because they provide affordable insurance for active duty military service members and their families, including special coverage to replace damaged uniforms.
We also appreciate that USAA has a reputation for being ethical and providing excellent customer service, and it’s available in every state, making it ideal for military service members who move frequently.
The average cost of USAA homeowners insurance in Mississippi is $1,395, nearly $400 less than the stage average.
What Homeowners Insurance Discounts Does USAA Offer?
USAA provides three basic homeowners insurance discounts in Mississippi.
- Bundling. You can save if you buy both homeowners insurance and car insurance from USAA.
- Claims-free. You’ll get a discount if you have been claims-free for five or more years.
- Security system. You’ll save if your home has an installed and monitored security system.
USAA Homeowners Insurance Pros & Cons
- USAA has excellent customer service and has received high ratings for ethics.
- Replacement cost coverage comes standard.
- There’s coverage available to replace damaged military uniforms.
- Coverage is available for service members but not for civilians.
- Local service is limited.
|J.D. Power (out of 1,000)||882|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||0.88|
Nationwide: Best for Discounts on Homeowners Insurance
- Available in 44 states & Washington, D.C.
- Quote access: Online & by phone
Nationwide Insurance has been in business for nearly 100 years and is one of the largest and most respected homeowners insurance companies in the US.
We selected Nationwide as one of the best insurance companies in Mississippi thanks to its impressive array of discounts to help homeowners save.
We also appreciate Nationwide’s strong financial ratings, excellent customer service, and generous policy bundling discount.
Nationwide’s homeowners insurance in Mississippi has an average annual cost of $1,535, which is more than 10% below the state average.
What Homeowners Insurance Discounts Does Nationwide Offer?
Nationwide Insurance has nine potential discounts to help Mississippi homeowners save money on their insurance.
- Bundling. You can save 20% or more when you buy two or more policies.
- Claims-free. You’ll save on your premium if you’ve never filed a homeowners claim.
- Home renovation. You’ll get a discount if you update your home’s electrical, HVAC, or plumbing systems.
- Gated community. Get a break on your premium if your home’s in a gated community.
- New home purchase. You’ll save money if you buy a home within one year of purchasing your policy.
- Prior insurance. You can get a discount based on how long you were with your prior carrier.
- Smart home. You can get a discount if your home has a smart device installed.
- Roof rating. Save money if your roof is new or recently renovated.
- Protective devices. Get a discount if your home has installed burglar, fire, or smoke detectors.
Nationwide Homeowners Insurance Pros & Cons
- Nationwide offers nine homeowners insurance discounts, more than any other company on our list.
- They have a reputation for excellent customer service and a low volume of customer complaints.
- Nationwide’s standard policy offers robust protection and is more comprehensive than other companies.
- It’s easy to file and track claims online with just a few clicks.
- There are special discounts if you upgrade your roof or your home’s plumbing, electrical, or HVAC systems.
- Nationwide does not provide homeowners insurance coverage for manufactured or mobile homes.
- We wish they would address the issues with their mobile app to make it more useful.
|J.D. Power (out of 1,000)||816|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||0.88|
Mississippi Farm Bureau: Best for Local Service
Mississippi Farm Bureau has been providing insurance to Mississippi residents for 70 years and has a reputation for being a reliable company.
We chose them for our list because, with insurance adjusters in every county and many local agents, Farm Bureau has a local service that any other company can’t beat.
The average annual cost of Mississippi Farmers Bureau homeowners insurance is $1,205, below the state average, although not the least expensive option.
We also like their generous array of homeowners insurance discounts.
What Homeowners Insurance Discounts Are Available from Mississippi Farm Bureau?
Mississippi Farm Bureau offers a total of six potential discounts to help Mississippi homeowners save money.
- Farm Bureau Members Choice. This is Farm Bureau’s bundling discount, and you can save by bundling car, boat, or motorcycle insurance with your homeowners insurance.
- One Deductible Advantage. You’ll pay a single deductible if you have a property that’s covered by multiple policies.
- New Home Discount. You can save up to 35% if your home is newly built.
- Protective Device Discount. You’ll get a discount if you either install a home security system or sign up for a security service.
- New Roof Discount. If you redo your roof with approved materials, you’ll get a lower homeowners insurance rate.
- Continued in Force Discount. You’ll get a discount if you keep your policy with Mississippi Farmers Bureau.
Mississippi Farm Bureau Homeowners Insurance Pros & Cons
- The company has insurance adjusters in every county in Mississippi and many local agents to provide personalized services.
- The average annual cost is about $500 less than the Mississippi state average.
- There are six discounts available to help you save.
- The Farmers Bureau website is minimalistic and doesn’t offer much information regarding coverage options.
- Mississippi Farmers Bureau doesn’t offer as much add-on coverage as other companies.
- Some Mississippi homeowners may prefer to deal directly with an insurance company instead of an agent.
What Factors Impact the Price of Homeowners Insurance in Mississippi?
Here are the key factors that may impact how much you pay for homeowners insurance.
You’ll have a choice of deductibles when you buy homeowners insurance and the deductible you choose will affect your price.
If you opt for a low deductible, you’ll have more protection when you file a claim but you’ll pay more for insurance, and the reverse is true if you opt for a high deductible.
You’ll need to decide on a policy limit that provides enough coverage to rebuild your home from the ground up in the event that should become necessary.
If you have a high-value home, you’ll need more coverage than you would with a less expensive home and pay more for homeowners insurance.
A standard homeowners insurance policy offers basic protection, but you can add to your protection by choosing additional coverage.
If you do choose to add to your coverage, keep in mind that any additional coverage you purchase will increase your premium.
The area where your home is located impacts the risk taken by the insurance company because there is a higher probability that you will file a claim.
For example, a home on the Gulf Coast might cost more to insure than a home that’s located inland due to the increased risk of hurricane damage.
How Much Homeowners Insurance Do You Need?
Many homeowners ask us how to figure out how much insurance to buy, which is an important question.
The easiest way to crunch the numbers is to use the estimated cost to rebuild your home from the ground up as a guide.
- Dwelling. Your dwelling coverage protects the physical structure of your house and should be enough to rebuild your home entirely in the event it is destroyed.
- Other structures. This coverage protects all other buildings on your property, including detached garages, barns, sheds, and fences, and usually totals about 10% of your dwelling coverage.
- Personal property. Your personal property coverage protects all personal belongings of people living in your home and will pay to replace them if they’re destroyed or damaged; in most cases, you should buy between 50% and 70% of your dwelling coverage, not counting items that need to be scheduled separately.
- Personal liability. Your personal liability coverage protects you from liability incurred as the result of a guest being injured or their property being damaged while on your property; most people require between $100,000 and $500,000 of coverage.
- Guest medical. Guest medical coverage provides your guests with reimbursement for a portion of their expenses related to injuries sustained in your home; most policies include between $1,000 and $5,000 in coverage per guest.
- Additional living expenses. Your additional living expenses coverage provides payment for you and other members of your household to live in a hotel or rent a place to live if a covered event makes your home uninhabitable; you’ll need about 20% of your dwelling coverage to be safe.
Your total homeowners insurance coverage should equal approximately twice the cost to rebuild your home, not counting personal liability and guest medical.
Keep in mind that if you have scheduled valuables, your coverage will be higher than the numbers we have listed here.
What Is and Isn’t Covered by Homeowners Insurance
Homeowners insurance will protect you against most of the risks associated with owning a home, but it doesn’t protect against everything.
A standard homeowners insurance policy will cover the following things.
- Your home and any other structures on your property, including fences, detached garages, barns, and sheds.
- The personal belongings of everyone residing in your home, whether the belongings are in the home or not when they are damaged, stolen, or destroyed.
- Damage caused by covered events as identified in the policy.
- Your personal liability related to guest injuries or property damage.
- Guest medical expenses.
Here are the things that are not covered by homeowners insurance.
- Flood damage
- Power failure
- Earthquake damage
- Pest infestation and damage
- Nuclear hazard
- Government action
The first four items listed above can be remedied by either buying an additional policy or by purchasing add-on insurance from your homeowners insurance company.
The final three items have no remedy; neglect is within your control, and damage due to government action or a nuclear hazard is extremely unlikely.
Here at PropertyNest, it is our mission and passion to provide Mississippi homeowners with the guidance and information they require to select the best homeowners insurance policy for their needs at a price they can afford.
As you review the companies on our list and request quotes, remember the factors that will affect your cost, including the size and location of your home, the cost to rebuild, and the cost to replace your personal belongings.
We suggest obtaining at least three quotes from three different companies to ensure you get the best deal possible, making sure to inquire about discounts and take advantage of any that you can qualify for.
How We Selected the Best Homeowners Insurance Companies for Mississippi
We understand that shopping for homeowners insurance with so many options to consider can be both time-consuming and anxiety-inducing.
We used these five main criteria to select the six best homeowners insurance companies in the state of Mississippi.
For many Mississippi homeowners, the cost is the single most important thing to consider when buying homeowners insurance.
For this list, we prioritized companies that provide value in the form of low premiums when compared to the Mississippi state average or who offer coverages and features that offset the expense.
Discounts on Homeowners Insurance
While the basic cost of insurance may be high in some cases, homeowners insurance discounts can help you lower your premium–especially if you can layer savings with two or more discounts.
We chose companies that offer a minimum of three homeowners insurance discounts and gave special attention to the companies that offer discounts–such as bundling or security discounts–that most Mississippi homeowners can take advantage of.
Coverage and Endorsements
Each Mississippi homeowner is unique, and it’s essential to find the company that suits your needs and will protect your home and replace your personal belongings if they’re damaged or destroyed.
We selected companies that offer robust coverage and a wide selection of add-ons to help you customize your policy.
Filing a homeowners insurance claim can be stressful enough without adding sub-par customer service to the mix.
The companies we chose all have reputations for solid customer service and have demonstrated their commitment to their policyholders, and we gave priority to companies who provide multiple support options, including telephone, online, and mobile support.
Technology and Online Services
Homeowners in Mississippi favor convenience and speed when they shop for insurance, so we chose companies that offer what homeowners want.
For this list, we prioritized companies with user-friendly and informative websites, well-reviewed mobile apps, and online and mobile services and support.