Average homeowners insurance cost in Southaven, MS

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As per Insure.com’s rate data analysis, the average cost of homeowners insurance in Southaven is $2,980 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), It’s $476 more than the national average of $2,504.

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in Southaven depend on several factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

Allstate is the cheapest homeowners insurance company in Southaven with an average annual premium of $2,980 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Southaven. Keep reading to learn about the monthly cost of homeowners insurance in Southaven, the cost for different dwelling coverage levels, and discover which companies provide the most affordable home insurance in Southaven.

Key takeaways

The cost of your homeowners insurance policy in Southaven can vary based on factors such as your location, the value of your home, and the coverage options you select.
Allstate is the cheapest homeowners insurance company in Southaven with an average annual premium of $1,677.
If you increase your dwelling coverage from $200,000 to $300,000, you will pay $683 more, annually for home insurance.

Average homeowners insurance cost in Southaven per month

Residents of Southaven pay an average of $248 a month for homeowners insurance, as per Insure.com’s rate analysis. It’s $33 less than the state average of $281 and $39 more than the national average for home insurance across the United States.

The cost of your homeowners insurance policy in Southaven may change based on location, property value, and selected coverage options.

Average homeowners insurance cost for a $200,000 house in Southaven

In Southaven, MS, homeowners pay an average of $2,297 annually for a $200,000 home. The annual cost of home insurance is influenced by factors such as the risk of natural disasters in your area.

Regions more susceptible to natural disasters, such as floods, hurricanes, or tornadoes, typically face higher rebuilding costs, leading to increased insurance premiums. It is important to understand that standard insurance policies might not cover damages caused by floods or hurricanes. If you live in a flood-prone area, it is advisable to purchase flood insurance.

Average homeowners insurance cost for a $300,000 house in Southaven

According to Insure.com’s rate analysis, homeowners in Southaven typically pay an average of $2,980 annually for a home insurance policy with $300,000 in dwelling coverage, $100,000 in liability protection, and a $1,000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, your home insurance rates will rise by $683. It is advisable to purchase enough insurance to cover the entire cost of rebuilding your home. The required amount of dwelling coverage can vary based on factors such as the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in Southaven by company

Among the carriers analyzed, Allstate is the most affordable homeowners insurance company in Southaven. It’s average annual rate for homeowners in Southaven is $1,677.

Southern Farm Bureau, ranks second and Nationwide makes it to the third spot with an average annual home insurance rate of $2,404.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Southaven and compiled a list of the most affordable home insurance companies.

Below are details of Southaven home insurance companies and their average annual premiums.

Home Insurance Company	Annual rate
Allstate	$1,677
Nationwide	$2,404
State Farm	$2,484
Farmers	$3,547
Travelers	$7,255
Southern Farm Bureau	$2,316
USAA*	$2,387

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Southaven for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.