Average homeowners insurance cost in Mississippi

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Whether you’re buying a new home or want to protect the property you currently own, it’s important to have sufficient homeowners insurance coverage in place. However, home insurance policies can get expensive, depending on your insurer and the coverage level you choose.

On average, Mississippi homeowners insurance costs $3,369 a year, based on Insure.com’s data.

Learn more about the average homeowners insurance rates by company and ZIP code in Mississippi.

Key Takeaways

Homeowners insurance costs an average of $3,369 a year, based on Insure.com 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

It’s always a good idea to shop around and compare prices before purchasing homeowners insurance. Several factors come into play when choosing the best homeowners insurance company.

We evaluated homeowners insurance providers in Mississippi by comparing their NAIC scores and AM Best ratings and compiled a list of the top insurers in the state. Based on Insure.com’s analysis, Southern Farm Bureau received the lowest NAIC score and an AM Best rating of A-. A lower NAIC score signifies fewer complaints relative to the company’s size, indicating greater 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 has the cheapest homeowners insurance rates in Mississippi. Its average annual cost for Mississippi homeowners is $2,350. State Farm and Nationwide also offer affordable insurance.

By comparing homeowners insurance rates, you could save hundreds, if not thousands, of dollars annually.

The table below shows the average annual and monthly insurance rates for homeowners in Mississippi with $300,000 in dwelling coverage, $100,000 in liability coverage, 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

In Mississippi, insurance companies evaluate the risk associated with specific locations to determine premiums. ZIP codes with higher crime rates or a history of natural disasters are often considered high-risk, resulting in higher insurance premiums. Additionally, the cost of rebuilding or repairing homes in a particular ZIP code can influence your price for a homeowners insurance policy.

Shop around and compare quotes from different insurance companies to find the best home insurance rates in Mississippi. Also, remember to inquire about any discounts, such as bundling policies or smart home discounts, to help lower your premium.

Most affordable ZIP codes for home insurance rates in Mississippi

Home insurance costs vary across different areas in Mississippi. What you pay for homeowners insurance depends on several factors, including your ZIP code. According to our data, the 38637 ZIP code has the lowest home insurance rates in Mississippi, at $2,963 annually or $247 per month.

Here are the homeowners insurance rates for some of 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 following data highlights the changes in homeowners insurance rates since 2019.

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

Finding the right homeowners insurance requires thorough research and comparing rates from different insurers, as each has its own way of assessing risk. By gathering quotes from at least three companies, you can increase your chances of getting 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.