8 Best Homeowners Insurance Companies in Missouri of 2023

As a homeowner in Missouri, you understand the importance of protecting your biggest asset. Your home is not only a financial investment, but it holds invaluable memories and keepsakes, such as family heirlooms and precious jewelry. That's why seeking excellent insurance coverage is crucial to safeguard your home from unexpected disasters like fires, theft, and severe weather.

Regarding personal insurance policies, routine choices can make all the difference in uncertain circumstances. Missouri residents know the damaging effects of flooding, severe weather, and hailstorms that can threaten homes in St. Louis or small towns like Parkville. Homeowners insurance offers essential financial protection against these unforeseen events, covering expenses for repairing, rebuilding, and replacing personal property like electronics, clothes, furniture, and even musical instruments.

At PropertyNest, our focus is to assist Missouri homeowners in finding comprehensive insurance coverage that meets their unique requirements.

The Best Homeowners Insurance Companies in Missouri

• Lemonade: Best for its Technology & Pricing
• Liberty Mutual: Best for Flood Coverage
• Allstate: Best for Being Claims-Free
• State Farm: Best for Necessary Optional Coverages
• Travelers: Best for Add-Ons
• Progressive: Best for Many Discounts
• Farmers: Best Insurance with Different Policy Options
• Nationwide: Best for Affordability

Lemonade: Best Homeowners Insurance for its Technology

Lemonade Insurance is unique as it is the only company entirely online. For tech lovers and for those who want to do all their insurance needs without talking to a human agent, Lemonade can’t be beaten.

You can get a quote, sign up, file a claim, and purchase add-ons on Lemonade’s website and mobile app.

We love convenience, but we also love a charitable insurance company, which is rarely seen in other insurers.

Lemonade’s Giveback program allows customers to donate to a charity they like.

Here’s how it works:

The insurer uses its claims and lets policyholders donate their unused premiums to a charity they like.

So, you make a mark on a cause you care about and get great home insurance rates.

Lemonade Homeowners Insurance Discounts

• Material Discount - Pay less if your home is constructed from fire-resistant materials, including masonry.
• Fire Protection Discount - Get savings if you have safety measures in your home.
• Protection Equipment Discount You also save if your home is equipped with protection equipment like burglar alarms.
• Gated Community Discount - Pay less if you live in a gated community.
• Bundling Discount - You pay less if you bundle home insurance with a pet insurance policy.

Read a full Lemonade home insurance review.

Liberty Mutual: Best Homeowners Insurance for Flood Coverage

Missouri is known for severe weather like floods—homeowners who live close to the Mississippi River experience damaging floods all season.

But flood insurance is never covered by homeowners insurance. You must purchase the policy separately, which will increase your costs.

Some insurers don’t offer flood insurance as an add-on because of the catastrophic risks.

So, we chose Liberty Mutual because they make it easy for Missouri homeowners to obtain flood insurance through their partnership with the National Flood Insurance Program.

While flood insurance is optional, knowing if you are in a FEMA (The Federal Emergency Management Agency) flood zone is good.

If you qualify for a federally-backed mortgage loan, it’s mandatory that you have to buy flood insurance.

Liberty Mutual Homeowners Insurance Discounts

• Multi-Policy Discount - If you bundle your homeowners insurance with any of Liberty’s other products, you can save money. These include business insurance, auto, and life, for example.
• Claims-Free - If you’ve gone without a homeowners insurance claim for five years or more with another insurer, you will probably get a discount if you switch to Liberty.
• Protective Devices Discount - By adding smoke alarms, deadbolts, fire extinguishers, fire alarms, burglar alarms, water leak detection, and shutoff devices, you’ll get a discount because your home will be safe, and you are far less likely to make a claim.
• Newly Purchased Home - You get lower rates if you just bought a new home.

Read a full Liberty Mutual home insurance review.

Allstate: Best Homeowners Insurance for Being Claims-Free

Allstate is one of the largest insurance companies in the US, having been in operation since 1931.

Due to its size, the company provides comprehensive coverage, low-cost add-ons, and affordable rates.

You have so many options, but we found one that rewards homeowners for being responsible.

If you take great care of your home, all your systems and appliances are new or in good working order, and you have security measures, you are less likely to make a claim.

So, you can get a discount if you don’t claim for a period set by Allstate.

And if you switched to Allstate and hadn’t filed a claim with your previous insurer, you can get up to a 20% discount on your premium.

In addition, Allstate will also lower your deductible amount for every additional year you stay claims-free and keep your homeowners insurance with the insurer.

Allstate even offers something called “Rateguard.” This add-on allows you to file one free claim every five years without causing your rate to rise.

Allstate Homeowners Insurance Discounts

• Bundling Discount - Buy two or more policies to save.
• Early Signing - Sign your Allstate policy a week or more before your old policy expires to get a discount.
• New Homeowner - New home buyers get a discount, like those who buy newly constructed homes.
• New Roof Discount - A new roof will save you money on your policy.
• Protective Device Discount - Save if your home is installed with theft or fire protection devices.
• Responsible Payer - Make your payments on time to save money.
• Welcome discount - Switch your insurance to Allstate to save up to 10%.

Read a full Allstate homeowners insurance review.

State Farm: Best Homeowners Insurance for Necessary Optional Coverages

State Farm has been selling insurance products for over 100 years and is best known for its excellent customer service and high financial strength.

This means that State Farm is more likely to fulfill its financial obligation to you when it comes time to file a claim.

State Farm homeowners insurance also has several coverage options that can make your basic or standard insurance more comprehensive and tailored to the policyholder’s needs.

Coverage options vary considerably. Some seem necessary to have, and others are unique to State Farm.

Here are the coverages, but keep in mind that each comes with a cost, and your rates will increase.

State Farm Homeowners Insurance Coverage

• Sewer or Drain Backup: Overflow due to sewers and drains can come unexpectedly and cause water damage to your property or systems. This coverage protects your property.
• Identity Restoration: If your identity is stolen or used fraudulently, State Farm will clear your name and reimburse you for any losses.
• Business Pursuits Coverage: This covers bodily injury and property damage liability for those in certain occupations.
• Adult Family Home: If you hire someone for adult care and the person is injured in your home, any bodily and property damage will be covered.
• Nurses' Professional Liability Coverage: Provides liability coverage for registered nurses, licensed practical nurses, and licensed vocational nurses.
• Increased Limits for Property Structures: You can get increased coverage to protect or repair detached structures on your property. This includes pergolas and arbors, fences and gates, free-standing garages, and sheds, to name a few.
• Personal Injury Liability: If you're legally obligated to pay for personal injury offenses, this coverage steps in to defend your liability.
• Temporary Rental Coverage: If you rent out your home for special events like a movie crew shooting in your house, a wedding, a party, or a black-tie affair, for example, State Farm will increase the costs of theft and liability coverage.
• Systems Coverage: Damaged systems like water heaters, A/C units, furnaces, and heating units, to name a few, will be replaced with more energy-efficient models.
• New Construction Theft: If your home is under construction, Allstate will reimburse you if there’s theft of building materials that will be used on your new home.

State Farm Homeowners Insurance Discounts

• Multiple Line Discount - Purchasing various insurance policies from State Farm makes you eligible for auto and home insurance premium discounts and savings.
• Home Security Insurance Discount - If you install fire, smoke, burglar alarms or any other home monitoring system, you may be eligible for a discount.
• Roofing Discount - If your roof is considered a complete loss due to a covered peril, the insurer offers loss settlement for your roof on a replacement cost basis.

Read a full State Farm homeowners insurance editor's review.

Travelers: Best Homeowners Insurance Policy for Add-Ons

Founded in 1864, Travelers sells homeowners policies in most U.S. states. It offers solid coverage and has fewer than-expected consumer complaints. The insurer even covers an option that will pay to rebuild your home using environmentally friendly materials after a covered peril damages or destroys your house.

But what stands out is that Travelers has an impressive number of add-ons.

Travelers Homeowners Insurance Add-ons

• Special Personal Property Coverage: The basic homeowners insurance plan does not cover in full your personal belongings if they are lost, stolen, destroyed, or damaged due to a covered peril. This add-on will increase your coverage to pay for replacements or repairs.
• Contents Replacement Cost: Also known as replacement cost coverage, this add-on will reimburse you for your stolen or destroyed property using today’s prices rather than the depreciated value.
• Additional Replacement Cost Coverage: If the cost to rebuild your home after damages is more than your dwelling coverage limit, this add-on will give you more funds so your house can be paid in full.
• Valuables Add-On: A standard or basic policy only pays up to the policy’s limit and will probably not cover in full your valuable possessions. This add-on can raise your coverage limits.
• Water Backup and Sump Pump: If drains, sewer lines, or sump pumps in your home back up and cause water damage to your home, this add-on will pay for repairs.
• Green Home Coverage: If your home was damaged or destroyed, this add-on pays for you to use environmentally friendly materials when repairing or rebuilding your home.
• Identity Fraud: This add-on protects homeowners in the event of identity fraud or if your personal information is stolen and used fraudulently. It will also monitor your credit.

Travelers Homeowners Insurance Discounts

• Multipolicy - Discount for bundling more than one type of coverage.
• Claims-Free - You can get a discount if you go without any claims for a certain period.
• New Home - If you bought your home within the last 12 months, you can also get a discount.
• Protective Devices - Installing home security systems or protective devices like remote cameras, smoke detectors, and fire alarms will give you a discount.

Progressive: Best Homeowners Insurance for Many Discounts

Progressive has been in the insurance business since the 1930s.

It offers a lot of insurance policies, including homeowners and renters, condo insurance, auto policies for a wide range of vehicles, and even mobile home insurance that’s usually excluded from similar insurers.

We chose Progressive as one of our top-rated insurers due to the many discounts it offers policyholders. Taken together, the discounts can make a huge dent in your premiums.

Progressive Homeowners Insurance Discounts

Here are the most prominent discounts:

• Multi-Policy Discount - Bundle home and auto, home and boat, or home and RV will get a 5% discount.
• Safety and Alarm - You'll get a discount if you install burglar and fire alarms.
• Quote in Advance - If you get a quote at least ten days before your policy begins, you’ll lower your rate.
• New Purchase - You can get a discount if you purchase a new home (it doesn’t have to be newly built).
• New Home Construction - The newer your home, the larger the discount you could earn.
• Receive Documents Electronically - If you opt to get policy documents via email rather than paper, you’ll qualify for a discount.
• Home Security - If you (or a professional) install video surveillance cameras and home security systems like door and window sensors, you’re eligible for a discount.

Farmers: Best Homeowners Insurance with Different Policy Options

Farmers is one of the best-known home insurance companies in the country. The insurer offers comprehensive home coverage alongside umbrella insurance, condo, renters, mobile, and manufactured homes insurance, and even vacation home and vacant home insurance policies, to name a few.

Farmers is an excellent choice if you have specific needs in mind, like if you need only the most basic policy or more enhanced coverage.

Farmers offer three tiers of coverage that allow for flexibility and personalized customization and will enable you to buy only what you need to save money.

Who wants to pay extra if you’re not using a particular coverage?

The three tiers include a lower-cost option that includes everything in a standard policy, a slightly more expensive but comprehensive option, and a high-cost option that includes everything the lower options have plus enhanced coverage limits.

Each policy builds on the one before it.

Farmers Homeowners Insurance Coverage Policies

• Standard: The standard was created with new homeowners in mind and includes the six standard coverages and the option to purchase add-ons such as replacement cost coverage or increased dwelling coverage.
• Enhanced: Farmers’ middle coverage tier includes the standard coverage in addition to extended coverage limits and extended replacement cost coverage for your personal belongings (i.e., new replacement without depreciation) and your roof and the ability to increase your dwelling coverage by up to 150%.
• Premier: This is the most comprehensive coverage tier. It includes all the offerings in the standard policy and increases coverage limits for valuables like jewelry. It also has a good number of endorsements and add-ons to customize your policy, including guaranteed replacement cost coverage to cover the structure of your home (but only if your home meets specific requirements).

Farmers Homeowners Insurance Discounts

• Safety and Security - If you have a special fire alarm that connects to your local fire department or a security system with an outdoor signal that can communicate to local authorities, you’ll get a discount.
• No Smoking - You get a discount if you don’t smoke or don’t allow smoking in your home. That’s because smoking increases the risk of a house fire.
• Bundling - If you bundle two or more policies with Farmers, you’ll save money.
• Claims-Free discount - If you never claim for three years or more, you’ll get a discount.

Read a full Farmers home insurance review.

Nationwide: Best Homeowners Insurance for Affordability

Nationwide is one of the ten largest home insurance companies in the US. It is noted for its outstanding coverage that would cost you extra compared to a similar insurer.

It is also the most affordable policy on our list. The average annual homeowners insurance cost based on a house with dwelling coverage of $300,00 is $1,725 or $145 per month.

Nationwide is also known for its diversity of coverages and customizations, from unique or special add-ons to make your policy more comprehensive to discounts that can lower your already low rate.

Nationwide Homeowners Insurance Notable Coverage Options

• If a covered peril damages your roof, Nationwide will rebuild your roof with stronger materials.
• The insurer will pay to replace brand-new belongings or restore damaged ones fully.
• Ordinance of law pays to bring your home up to current building codes if your home needs to be rebuilt or repaired after a covered peril. This comes at no cost to you.
• The insurer will raise your dwelling coverage to 20% above your policy limit.
• You'll get a discount if you update your plumbing, electrical systems, and HVAC.
• Offers flood insurance and earthquake insurance as separate deductibles. (Some insurers don’t show these policies).

Nationwide Homeowners Insurance Discounts

• Multi-policy discount when bundling home with auto.
• Installing fire and burglar alarms gives you a protective device discount.
• If you’ve never made a claim, you can get a discount.
• You'll save if you improve your home’s electrical, heating, and cooling systems.
• You get a home purchase discount if you purchased your home within the past year.
• If you live in a gated community, or entrance is only available via security guards, you’ll also get a discount.

Methodology

How We Ranked and Picked the Best Homeowners Insurance Companies in Missouri

The following criteria had the biggest impact on which insurance to put on our list.

Price

Owning a home can be expensive, so we looked for insurers with the most affordable rates to keep your premium down.

Discounts

In our research to find the best insurers in Missouri, we chose those with the most discounts. Besides comparing quotes, discounts can keep your costs down and save you money.

Coverage

The basic or standard homeowners insurance policy may not have enough coverage to protect your valuables, so we looked at other ways to raise your personal property limits.

We looked almost exclusively at endorsements or riders, as each allows you to select coverage limits high enough to protect your belongings fully.

Customer Reviews

We looked at many sites offering customer reviews to narrow our options. The ones with the most positive reviews were more favorable to us.

Technology

We looked at a company’s website and app to see if you can manage most of your insurance needs electronically or if both were easy to use, even for the technophobe.

If a company allows you to get a quote, buy a policy, and make a claim online, to name a few, we put that insurer on our list.

How Does Homeowners Insurance Work?

Homeowners insurance will pay to have your home rebuilt and replace your belongings due to a covered peril.

A covered peril includes theft, burglary, vandalism, and natural disasters such as fires, hurricanes, high winds, and snow buildup, to name a few.

If you don’t have homeowners insurance, you will have to pay out-of-pocket for your destroyed belongings.

Homeowners insurance protects your home—and the contents within—from the financial impact of unforeseen or unexpected disasters.

Is It Mandatory to Buy Homeowners Insurance in Missouri?

You aren’t required to buy homeowners insurance, and it’s not mandatory by law.

But most homeowners have a home mortgage; in that case, your lender will likely require a policy to protect its investment.

What is Covered in Homeowners Insurance?

For a basic insurance policy, here’s what is covered.

Dwelling

If your house is damaged or destroyed due to a fire, natural disaster, or a covered event you could not have predicted, your insurer will cover the cost of rebuilding your home.

Liability

Suppose you cause bodily injury or property damage to another person unintentionally or through neglect. In that case, your insurance will pay for any medical bills the injured person needs, legal fees, and legal representation if you’re sued.

Medical

This policy pays if someone is injured on your property and needs medical treatment, regardless of who’s at fault. It also pays if you, a family member, or a pet like a dog injures someone elsewhere.

Personal Property

This pays to repair or replace personal belongings stolen or damaged in a covered peril, whether in your home or on a trip.

Loss of Use

If your home is destroyed and you can’t possibly live there for health reasons, or because it’s simply unhabitable, loss of use pays for hotel stays and having meals at restaurants.

What is Covered in a Standard Homeowners Insurance Policy?

The following natural disasters are covered perils:

• Fire
• Wildfires
• Lightning
• Windstorm and hail damage
• Smoke damage
• Volcanic eruption
• Explosion
• Weight of ice, sleet, or snow
• Hurricanes
• Water damage unrelated to natural floods

These are also covered perils:

• Vandalism and malicious mischief
• Damage from an aircraft, car, or another vehicle
• Theft and burglary

What Natural Disasters Not Covered in a Standard Homeowners Insurance Policy?

The two most common ones are floods and earthquakes. All homeowners insurance policies exclude floods and earthquakes.

Earthquakes

You can get earthquake coverage as an add-on or as a separate policy to your homeowners insurance.

Floods

While an insurer may cover water damage if your roof leaks due to a hurricane, it won’t cover flood damage from the same hurricane.

So, if you experience a property loss due to water damage caused by flooding, you will not be covered.

Missouri residents experience extreme flooding.

Over 280,000 properties are at risk of flood damage in Missouri.

You can add flood insurance as an endorsement to your policy. But look at what the insurer covers. Some companies do not have or offer a flood policy.

Because Missouri residents are at risk of flooding, getting flood insurance is wise so you are covered.

What Factors Determine My Insurance Rate?

Many factors that can lower your premium or raise it.

For your home, square footage is considered, especially when it involves calculating replacement cost, and the age of your home as well as its location, is also considered.

Even your personal information plays a part in your rate. For example, marital status, credit score, and your dog’s breed could affect the amount you’ll pay.

In addition to the below, insurers look at how near you are to flood zones or earthquake faults.

Here are some of the most common factors that can determine your rate.

Location

The area where you live affects your premium. You'll pay less if you live in a safe neighborhood with a low crime rate and your home is close to a fire hydrant or a fire station.

The closer you are to a fire station, the greater the likelihood a fire can be quickly extinguished before it becomes out of control.

Age of Home 

Older homes are more likely to need improvements. You’ll pay a higher rate if your systems and appliances are outdated and have never updated your HVAC and plumbing systems.

Also, the building materials used in older homes may not conform to modern building standards. This means additional work may be needed, which will drive your premium.

Deductible

Your deductible is the amount you agree to pay out of pocket if you file a claim. If you choose a higher deductible, this will decrease your premium.

Doing so means that your insurer will pay less if you file a claim, which can lead to a lower premium.

Coverage Options

Add-ons, endorsements, and increasing personal property limits can help if your precious artwork was stolen during a burglary. However, every coverage you add to your standard policy will cause your rate to rise.

Credit Score

If you have a high credit score, the insurer will assume you are more likely to pay your premium on time each month, and your rate will drop.

But if you have poor credit, the insurer will perceive you as an at-risk person who will likely miss payments or file claims, raising your premium cost.

Learn how to check your credit score.

Claims

If you file a claim, the insurer will believe you are more likely to make another claim and will increase your rates to keep costs down.

Even if you change insurance companies, your new provider can see your past claims and may charge you accordingly.

Several factors determine your premium, which, in some cases, you can’t control. Your home and your personal information are how insurers assess your premium.

Do I Need Extra Insurance?

Homeowners can include benefits to their coverage that were previously excluded from the basic or standard policy.

You need extra coverage if you have expensive items like jewelry or artwork.

If these valuables are stolen or damaged, the standard insurance covers them but only pays up to the policy’s limit.

In addition, a homeowners policy may put a cap or limit the coverage the policy will provide for high-value or rare items or have low limits for insuring the expensive property.

So, if your personal property limit is $2,000, for example, and your engagement ring costs $2,500, you’ll have to pay the difference, which is $500.

If you have expensive items needing coverage, the standard policy will probably not cover them fully.

What is the Best Way to Cover Your Valuables?

The best way to get fully protected is to add an endorsement or rider to your personal property coverage.

A rider allows policyholders to increase the overall coverage of their home insurance for particular categories.

An endorsement is basically the same thing as a rider; both are used interchangeably.

An endorsement and rider offer higher limits for your property, broader incident coverage, and total replacement cost value.

With these policies in place, you alone can control your coverage limits.

For example, what if your coin collection costs $3,500? You can set your rider with a limit of at least $3,500 to ensure you will be paid in full if your collection gets damaged, destroyed, or stolen.

So, If you purchase an endorsement, you should always select coverage limits high enough to protect your belongings in full.

Extra coverage will broaden the scope of your policy, but remember that each endorsement will cost you and impact your premium rate.

On the plus side, you get rid of your deductible if you claim that your coins were damaged. This means you don’t have to pay out-of-pocket before your insurance starts.

This is not the case with a standard policy, where you must pay the deductible before coverage starts.

If you want complete protection from anything that could happen to your high-priced items, then purchasing an endorsement is a must.

Lower coverage limits might save you money on your premium, but they might also leave you with insufficient coverage when you need to make a claim.

You should purchase a rider or endorsement because you get the original amount you paid for your engagement ring or the coin collection.

What Are the Types of Homeowners Insurance?

There are two policies you can choose: actual cash value (ACV) or replacement cost value (RCV)

If your home is damaged, the replacement cost will pay the actual cost of rebuilding your home even if inflation increases, zoning updates, labor, materials, or other expenses.

And if your personal property is damaged, RCV will pay for your items in full and at today’s prices.

On the other hand, if your belongings are stolen or destroyed, ACV will not replace them at their full cost but at their depreciated value.

RCV will pay you in full, while ACV will pay you a depreciated cost.

How Can I Lower My Premium?

There are two major ways in which you can lower your premium.

The first is to get discounts from your insurer.

For example, if you bundle homeowners insurance with auto from the same company, you can get a multi-policy discount.

If you install security features in your home, such as home security systems and burglar alarms, you’ll get a lower rate because your home will be less susceptible to a break-in.

Also, if you replace your aging appliances with new ones (like a refrigerator), your insurer will reduce your rate because new appliances are less likely to break down.

The second is shopping around.

You should get insurance quotes from several insurers to compare each company's rates, coverage, discounts, and additional features to find the best insurance that suits your needs.

It’s recommended you should get at least 3 or 4 quotes. You can easily do that by using a company’s website.

To get the best homeowner insurance policy deal, apply for discounts the insurer hasand compare quotes from several companies.

How Much is Homeowners Insurance in Missouri?

The average annual premium for homeowners insurance in the United States is $1,405 per year or about $115 per month.

In Missouri, the average price of home insurance is $2,375 per year or $195 per month. 

Missouri’s rates are higher than the national average.

That’s because Missouri experiences a high level of natural disasters.

In particular, high winds and hail damage are factors.

However, the natural disaster that frequently occurs in Missouri is severe flooding.

You should thus shop around. For example, Nationwide’s premium, $1,724 per year or $143 per month, beat the Missouri average.

In our search for the most affordable policies, Allstate and Farmers have similar rates to Nationwide, although both are slightly higher than Nationwide.

The cost of homeowners insurance in Missouri is high due to flooding, but if you compare quotes, you may find an insurer that fits your budget.