Mississippi Homeowners Insurance

Mississippi homeowners insurance premiums average at $82/mo, which includes four primary areas of coverage: dwelling, other structures, personal belongings, and loss of use coverage. Your rates may vary depending on the age of your home and what kind of security systems you may or may not use. Enter your ZIP code below to get free Mississippi home insurance quotes, compare local companies, and find the best policy for your home.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Nov 6, 2020

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Mississippi average home insurance premiums are $980/yr ($82/mo), which includes four primary areas of coverage. It is important to the homeowner to know what these parts are, and to be aware of specific perils their home may face. Once you are armed with that information, you will be better able to customize your policy to give your home the best coverage at the most affordable price.

  1. Dwelling
    The primary living structure of the property is the dwelling. Dwelling coverage includes the main structure and any others that are permanently attached, but it does not extend to buildings which can be removed without damaging the home. A glass sunroom might be part of the dwelling but a greenhouse in the garden would not.
  2. Other Structures
    That greenhouse which wasn’t covered as part of the dwelling portion of the policy is covered as an “other” structure. The general rule is that any construction which is not irrevocably connected to the home is an “other” structure. That includes yard decoration like a well house, your brand new dock, and the fence that runs around the property, to give you an idea of what “other structures” entails.
  3. Personal Property
    Personal property is anything on the insured property that belongs to you but is not covered by another part of the policy. The biggest problem with personal property coverage is that the default coverage is rarely enough to protect all of your possessions, but you can increase the limits to higher amount or even purchase a personal property policy separately.
  4. Loss of Use
    Save your receipts if you are unable to use your home for any reason related to a covered peril. Those receipts can be turned in to the insurance company under a loss of use claim and the insurance company will reimburse you for what you’ve spent. The idea is that your insurance policy is supposed to make sure that you can sustain your accustomed lifestyle even if disaster makes your home unlivable.

Average Mississippi Homeowner Insurance Rates vs. US

Source: USCB

Cheaper Mississippi Home Insurance

In a state where the average home value is $98,000, it is important to keep the costs of insurance as low as possible. To do this, you can take an active role by increasing the home security and reducing risks associated with the home and yourself. While the following ideas are from the only things you can do, they should serve as examples of where to look to reap more savings.

  • Home Security
    Home security is a serious issue with insurance companies, and they will give you discounts on your home insurance if you install items to make the home safer. A fence around your property deters criminals from coming on the property at all, for instance. Another example is to install deadbolt locks on all doors leading into the home. Finally, you can get the best discount by having a security system installed that is monitored offsite 24 hours a day.
  • Reduce Insurance Risks
    Reducing the risks that you present personally is another way to save on home insurance. This might be getting a better education, because people with a Bachelor’s degree or better are considered less risky. If you smoke cigarettes, quitting smoking is another discount waiting for you to take advantage of it. Cigarette smoking is a major source of home fires, so kicking the habit has the added benefit of making your home less risky to insure, and that saves you money on insuring it.
  • Credit Score and Insurance Risk
    Your credit score deserves to be singled out as a way to save money. The average credit score in your state is 668, but your target score is at least 65, which is the point at which most insurance companies begin to offer substantial discounts.

Home Characteristics Affecting Mississippi Insurance Rates

Home maintenance is important for keeping your insurance rates down, especially in a state where the average age of homes is around 29 years. Keep your roof free of leaves and other debris, and trim the trees on your property of dead branches that could break and cause damage to your home or other structures. Keep in mind that Mississippi is subject to frequent flooding and clear drainage areas so that water can flow away from the home.

Defending Your Home Against Crime & Vandalism

The crime rate is 10.26 per 1000 people in Mississippi, but installing the security devices described above can help make your home safer by deterring the criminal element before it has a chance to do any harm. Remember that your rates can increase if you begin filing numerous home insurance claims, and take a preemptive role in safety.

Local Natural Disasters Mississippi Homeowners Should Consider Protecting Against

Tornadoes, hurricanes and flooding are the primary perils facing homes in Mississippi, but keep in mind that hail and thunderstorms are common elements associated with these perils, and prepare the home as well as you can for them. But all of the preparation in the world might not be enough unless your insurance coverage is sufficient to take care of any damage that may be caused.

  • Earthquakes
    Ranked at 38 out of 51, Mississippi is not prone to earthquakes or other movements of the earth. You probably do not need earthquake coverage, but take a look at the seismic history of your specific location before you forego getting the protection, just to be on the safe side.
  • Flood
    Mississippi filed 243 claims in 2009, out of 46,621 flood claims filed nationwide. Flooding is a very real danger in Mississippi, and coverage may not be available through traditional insurance channels. If it is not, contact your state Department of Insurance to find out how you should go about signing up for high risk coverage through the FAIR plan or other high risk insurance pools.
  • Hail
    Hail damage is typically covered under a standard home insurance policy as damage caused by winds. You should read through your policy carefully, however, to make sure that hail is not specifically excluded. In places where hail damage occurs often, such exclusions are common. This does not mean you cannot get coverage for hail storms, it just means that you may have to purchase the coverage in addition to your standard policy.
  • Hurricanes
    Hurricanes are a frequent problem in the Mississippi summers. Luckily, the only danger associated with hurricanes that is not covered in a standard home insurance policy is the issue of flooding. As already mentioned, flood insurance may not be available through your insurance company but can be acquired through high-risk insurance providers.
  • Tornadoes
    With 106 tornadoes expected each year, Mississippi home owners need to check their policies to make sure that tornado coverage is included. In most cases, a tornado is covered by default as wind damage, but each insurance company is different, so make sure that you are protected before it’s too late.
  • Wildfires
    Approximately 74,749 wildfires spring up each year, and many of those are in rural areas, of which Mississippi has more than its fair share. Wildfire damage is covered under a standard home insurance policy unless it has been specifically excluded.

Mississippi Homeowners Insurance Optional Coverages

The two most common areas that fall short on a home insurance policy are the personal property coverage, and personal injury liability insurance. For personal property, you can either increase the limits listed in your home insurance policy or purchase a separate policy solely for your belongings. Personal injury liability is what pays the medical costs when someone outside of your family is injured on your property, but it also provides a buffer to protect your home from being taken in liability lawsuits. Personal injury liability is included in your home policy, but many people discover that buying an umbrella liability policy gives their family more financial security because it can be applied to both your home and car.

Important Contact Information

Mississippi Department of Insurance
P.O. Box 79
Jackson, MS 39205-0079
Phone: (800) 562-2957
Website

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