Average homeowners insurance cost in Mississippi

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Whether you’re buying a new home or safeguarding the one you already own, it’s important to have comprehensive homeowners insurance. However, the amount you’ll pay depends on the insurance company and the coverage limits you choose.

Homeowners insurance in Mississippi costs an average of $3,369 a year, according to Insure.com’s study.

Read this guide to learn more about the average homeowners insurance rates in Mississippi by insurance company and ZIP code.

Key Takeaways

Homeowners insurance costs an average of $3,369 a year, based on our analysis.
Of all the ZIP codes in Mississippi, 38637 has the most affordable home insurance rates at around $2,963 annually.
In Mississippi, Southern Farm Bureau provides the most affordable home insurance at an average annual premium of $2,350.

Average home insurance cost in Mississippi by coverage level

Homeowners insurance costs $3,369 a year in Mississippi for the coverage limits of $300,000 dwelling coverage and $100,000 liability with a $1,000 deductible.

If you raise the dwelling coverage limit from $300,000 to $400,000, the cost of homeowners insurance in Mississippi will increase to $4,207 per year for $100,000 in liability protection and a $1,000 deductible. Below, you’ll find the average cost of homeowners insurance in Mississippi for dwelling coverage limits of $300,000, $400,000, and $500,000.

Coverage	Average annual rate	Average monthly rate
$200,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible	$2,635	$220
$200,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible	$2,646	$221
$300,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible	$3,369	$281
$300,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible	$3,380	$282
$400,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible	$4,207	$351
$400,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible	$4,220	$352
$600,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible	$6,162	$513
$600,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible	$6,181	$515
$1,000,000 with $1,000 Deductible and $100,000 Liability and 2% Deductible	$10,263	$855
$1,000,000 with $1,000 Deductible and $300,000 Liability and 2% Deductible	$10,289	$857

Homeowners insurance companies in Mississippi determine rates based on risk factors. When calculating premiums, they consider your location, claims history, credit history and coverage limits.

If your neighborhood has experienced many claims in the last few years, you can expect to pay higher home insurance rates than areas with few to no claims. Your credit score can also play a role in determining your home insurance costs.

According to S&P Global Market Intelligence’s RateWatch application, the average homeowners insurance premium for owner-occupied homes nationwide increased by over 11% in 2023.

Best homeowners insurance companies in Mississippi

Before purchasing homeowners insurance, it’s important to compare rates and explore your options. Several factors play a role in choosing the best homeowners insurance company for your specific needs.

We evaluated insurance companies in Mississippi based on their NAIC scores and AM Best ratings to create a list of the top homeowners insurance providers in the state. Our findings show that Southern Farm Bureau received the lowest NAIC score and A- rating from AM Best. A lower NAIC score indicates fewer complaints relative to the company’s size, suggesting higher customer satisfaction.

Company	Average annual premium	AM Best rating	NAIC Complaint Index	Overall score
Southern Farm Bureau	$2,350	A-	0.23	5
Farmers	$4,793	A	0.54	4.04
State Farm	$3,059	A++	0.95	3.95
Allstate	$2,512	A+	0.9	3.93
Nationwide	$3,003	A+	0.87	3.89
Travelers	$8,816	A++	0.54	3.41

Average homeowners insurance cost by company in Mississippi

Southern Farm Bureau provides the most affordable homeowners insurance in Mississippi, with an average annual premium of $2,350. State Farm and Nationwide also offer cheap home insurance rates.

Shopping around for homeowners insurance can help you save hundreds of dollars annually.

Here are the average annual and monthly insurance rates for homeowners in Mississippi with a policy that provides $300,000 in dwelling coverage, $100,000 in liability protection, and a $1,000 deductible.

Company	Average annual rate	Average monthly rate
Southern Farm Bureau	$2,350	$196
State Farm	$3,059	$255
Nationwide	$3,068	$256
Allstate	$3,282	$273
Farmers	$5,149	$429
Travelers	$14,256	$1,188
USAA*	$2,467	$206

*USAA is only available to military community members and their families.

Mississippi homeowners insurance rates by ZIP code

Insurance companies in Mississippi assess the risk associated with a specific location. ZIP codes prone to higher crime rates or frequent natural disasters are often classified as high-risk areas, which can lead to increased insurance premiums. The cost of rebuilding or repairing homes in a specific ZIP code can also impact how much you pay for a homeowners insurance policy.

Make sure you shop around and compare quotes from various insurance companies to get the best deal on homeowners insurance rates in Mississippi. Don’t forget to ask about any available discounts, such as bundling policies or a smart home discount.

Most affordable ZIP codes for home insurance rates in Mississippi

Homeowners insurance costs in Mississippi can vary widely by location, with your ZIP code being a key factor in determining your rate. Based on our data, the the 38637 area has the most affordable insurance rates, at $2,963 annually or $247 monthly.

Below are the homeowners insurance rates for the most affordable ZIP codes in Mississippi.

ZIP code	Average annual rate	Average monthly rate
38637	$2,963	$247
38671	$2,964	$247
38680	$2,982	$248
38672	$2,995	$250
38654	$3,008	$251
39759	$3,017	$251
38632	$3,029	$252
39702	$3,046	$254
39701	$3,049	$254
38655	$3,052	$254

Most expensive ZIP codes for home insurance rates in Mississippi

In Mississippi, certain areas experience higher premiums because of higher crime rates, increased risk of natural disasters and the cost of living.

Homeowners in 39553 ZIP pay the highest insurance rates in Mississippi, with an average annual premium of $11,592.

Below is a list of some of the most expensive ZIP codes in Mississippi for homeowners insurance.

ZIP code	Average annual rate	Average monthly rate
39553	$11,592	$966
39595	$11,581	$965
39581	$11,052	$921
39567	$10,897	$908
39564	$10,379	$865
39563	$10,035	$836
39530	$9,864	$822
39531	$9,734	$811
39534	$9,716	$810
39507	$9,586	$799

Home insurance rates vary from one city to another. But with Insure.com, finding the right home insurance policy is easy. Learn more about homeowners insurance costs for different cities below.

Home insurance rates in Mississippi by city

See rates in your city

Home insurance rate trend in Mississippi

We analyzed home insurance rate trends in Mississippi and found that homeowners insurance rates experienced an overall decrease of almost equals to or $15, from 2022 to 2023.

The below data shows how much homeowners insurance rates have changed since 2019.

2019 rates	2022 rates	2023 rates
$3,175	$3,384	$3,369

To find the right homeowners insurance, research thoroughly and compare costs from multiple insurers, as they assess risk differently. Getting quotes from at least three companies helps ensure you get the most affordable coverage in Mississippi.

Resources & methodology

Source

S&P Global. “US homeowners insurance rates jump by double digits in 2023.” Accessed September 2024.

Methodology

Insure.com worked with Quadrant Information Service to get homeowners insurance data. We analyzed 20,739,560 insurance quotes from 82 national and regional insurance companies across 34,588 ZIP codes to determine the average premiums.

The insurance rates are based on a sample profile of a homeowner with good credit and the following coverage level:

$300,000 dwelling coverage
$100,000 liability protection
$1000 deductible

We have taken into account 3 important factors such as average annual cost, NAIC score and AM Best rating, to determine the list of best homeowners insurance companies. The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.