Mississippi Home Insurance
Quote in 60 SecondsSuppose you want to visit Chip and Joanna Gaines’ famous Magnolia Market. In that case, you might be surprised to learn that you won’t need to drive to The Magnolia State of Mississippi (their market is actually located in Waco, Texas). But even without the Gaines’ DIY influence, Mississippi still has plenty to offer.
Since we started providing home insurance in Mississippi, we’ve loved getting to know what makes this state tick. From its low cost of living to its low home prices, it’s no surprise that people in Mississippi are so lovely. Who wouldn’t love living in such a great place? Learn more about all the pros (and a few of the cons) of settling down in Mississippi below.
How much is homeowners insurance in Mississippi?
Homeowners insurance in Mississippi costs an average of $1,727 a year, making Mississippi the seventh most expensive state for home insurance in the nation. That’s about the same as buying an entree and piece of lemon icebox pie every day for 123 days at Mississippi's famous The Crystal Grill. Talk about a delicious way to spend one-third of your year.
What factors influence my home insurance rate?
When you’re shopping for home insurance, it’s important to remember that your actual quotes may differ from the state-wide average. This change in premiums can be due to various factors, such as where your home is located, its current condition and your previous history of claims.
Mississippi Home Insurance Premiums
What does Mississippi home insurance cover?
Home insurance policies in Mississippi cover your home's structure, contents and your personal liability from a variety of perils. But what makes The Magnolia State different is what it needs to be protected from. While the dozens of lakes and rivers mean the state is home to an abundance of catfish, it also means Mississippi is extremely susceptible to flooding.
Add to that 44 miles of coastline which makes Mississippi the eighth-most hurricane-prone state in the nation, and it’s no surprise that homeowners will need both flood protection and hurricane insurance. Other add-ons MS homeowners should consider for their home insurance policy include extended replacement cost and windstorm insurance, given the state’s 75% increase in tornadoes over the past decade, which you can see in this report from QuoteWizard, who compiled data from NOAA.
Mississippi Insurance Coverage Options
Traditional coverage
Structure
Expenses
Protection
Structures
Possessions
Supplemental coverage
Tips to lower your home insurance premium
There are a lot of reasons to settle down in Mississippi, from the BBQ and southern hospitality to the low house prices and overall affordability. In fact, Mississippi actually has one of the lowest costs of living of any state in the U.S.
That being said, Mississippians still deserve to save some extra cash. So if you’ve scored your dream home and are looking to lower your home insurance costs, there are several things you can do. First, you’ll want to prepare your home to make sure it can withstand the severe weather the area is known for. For example, if your windows or roof are over 20 years old, it’s a good idea to do some upgrading.
Other ways to reduce your home insurance premiums include installing smart home monitoring systems, keeping up with seasonal home maintenance and shopping around for new quotes every few years to make sure you’re getting the best deal possible.
Mississippi home insurance resources
If you think back, you may remember learning how to spell Mississippi by singing a song in elementary school (if you just started singing “m-i-crooked letter-crooked letter-i-crooked letter-crooked letter-i-hunchback-hunchback-i” you aren’t alone). But that's not all the education you’ll need to settle down in Mississippi. To learn more about protecting your home, MS has the NFIP and FAIR programs as well as the Mississippi Insurance Department at your disposal.
National Flood Insurance Program
As we mentioned above, Mississippi residents aren’t strangers to water damage from floods and hurricanes. Luckily, homeowners that live in the third most flood-prone state in the country don’t have to worry about being unprotected. Thanks to the NFIP, homeowners across the state can ensure they have financial protection from flood damage to their home and belongings.
Fair Access to Insurance Requirements
Though Mississippi ranks second for the number of homeowners in the United States, the occasional resident may still have trouble getting coverage for their new home. Whether it’s due to a high-risk location or a long history of claims, Mississippi’s Fair Access to Insurance Requirements plan (FAIR) is here to help. To qualify, you need to have had at least three unsuccessful attempts to secure coverage from other providers.
Here at Hippo, we’ve been in excellent company since we started providing Hippo insurance in The Hospitality State. After all, well-loved celebrities such as Oprah Winfrey, Britney Spears and even Elvis Presley were born within Mississippi’s state lines. A state prone to producing such talent as this only deserves the best. Luckily for Mississippi homeowners, that’s all we do.
