Best Homeowners Insurance in Mississippi 2023

Owning a home is expensive. From routine repairs to unexpected damages, it makes sense to protect your investment. To help you find the best homeowners policy, we’ve compiled the top available insurers.

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USAA  »

USAA

Caters to Military Families

AM best rating
A++

Online Tools
Online Estimate

Multi Policy Discount Available

Bundling Discount
Up to 10%

Any rates listed are for illustrative purposes only. You should contact the insurance company or insurance agent directly for applicable quotes.

USAA: You can only become a USAA member and access its homeowners insurance policies if you’re a member of the military, a family member of one, veteran, or a pre-commissioned officer. Its standard policy includes coverage for identity theft which is unusual for companies in our rating. But you wouldn’t be able to get water backup coverage.

Amica  »

AmicaCompare Quotes

Offers Dividend-Paying Policies

AM best rating
A+

Online Tools
Online Estimate

Multi Policy Discount Available

Amica: You may be able to save up to 20% off of your home policy if you also get your auto policy through Amica. As with most other insurers on this list, separate structures are included in a standard policy. Amica also offers homeowners the choice between policies that pay dividends and those that don’t.

Allstate  »

AllstateCompare Quotes

Offers Extensive Coverage Options

AM best rating
A+

Online Tools
Online Estimate

Multi Policy Discount Available

Bundling Discount
Up to 25%

Any rates listed are for illustrative purposes only. You should contact the insurance company or insurance agent directly for applicable quotes.

Allstate: Allstate offers a number of coverage options for homeowners, including for water backup, business property, sports equipment, musical instruments, and your appraised valuables. If you’re willing to bundle your home and auto policy, the company offers a significant discount of up to 25%.

State Farm  »

State Farm

Adjusts Coverage to Inflation

AM best rating
A++

Online Tools
Online Estimate

Multi Policy Discount Available

Bundling Discount
Up to $965

Any rates listed are for illustrative purposes only. You should contact the insurance company or insurance agent directly for applicable quotes.

State Farm: State Farm says that homeowners can save up to $1,127 a year when they bundle policies with the insurer, depending on their previous insurance company. It also offers a roofing discount if you use qualifying roofing products. State Farm has some coverage options for business property, service lines, and even waterbed liability.

Nationwide  »

NationwideCompare Quotes

AM best rating
A+

Online Tools
Online Estimate

Multi Policy Discount Available

Bundling Discount
Up to 20%

Any rates listed are for illustrative purposes only. You should contact the insurance company or insurance agent directly for applicable quotes.

Nationwide: Nationwide includes coverage of separate structures and your credit and debit cards in its standard homeowner policies. To help you round out your coverage, there are options for water backup, identity theft, and valuable items. Also available is its Brand New Belongings option which pays you for the depreciated value of damaged or destroyed covered items, and then after you repair or replace them and send Nationwide the receipt, it will reimburse you for the difference.

Liberty Mutual: Liberty Mutual has some interesting options for its standard homeowners policies. You can add its Inflation Protection option, which will automatically adjust your coverage limits to match inflation when you renew your policy. It also has more standard options, such as coverage for jewelry or damage that is the result of water backing up from a drain or sump pump.

Chubb: Chubb is the only top insurer in our rating that includes water backup, replacement cost valuation, and the option of a cash settlement in the event of a covered total loss of your home in its standard policy. The cash settlement option would give you the option of taking a cash settlement, up to your coverage limit, in lieu of rebuilding your home. Liability starts at $1 million of coverage. Claims are processed within 24 hours of receipt, and when approved, payments go out within 48 hours, according to the company.

Progressive  »

ProgressiveCompare Quotes

AM best rating
A+

Online Tools
Online Estimate

Multi Policy Discount Available

Bundling Discount
Up to 4% on Auto

Any rates listed are for illustrative purposes only. You should contact the insurance company or insurance agent directly for applicable quotes.

Progressive: Progressive offers a solid array of discount options, like safety and alarm discounts as well as pay-in-full and bundling options. Progressive is unique in our rating as the only company to sell policies issued by other insurers in addition to its own.

Farmers Insurance  »

Farmers InsuranceCompare Quotes

AM best rating
A

Online Tools
Online Estimate

Multi Policy Discount Available

Bundling Discount
Up to 20%

Any rates listed are for illustrative purposes only. You should contact the insurance company or insurance agent directly for applicable quotes.

Farmers: Farmers’ homeowners policy comes in three tiers: Standard, Enhanced, and Premier. The higher-level tiers provide more coverage and features. It stands out for offering a wide array of discount options, such as having a home security system, being a nonsmoker, and bundling.

Your policy’s cost will depend on many factors, like your home’s ZIP code, value, condition, and age, as well as how much coverage you want. Let’s say your home is a new build located inside of a gated community. That’s usually going to get lower rates than an older house. So a personalized quote can help you compare your options, once you’ve narrowed things down to a few insurers.

To help you narrow things down, we’ve compiled the available rate data for our top-rated companies in Mississippi. The figures are based on either $100,000 or $300,000 of liability coverage, using several different dwelling coverage values.

How To Save Money on Homeowners Insurance in Mississippi

There are a few ways you can save money on home insurance. For example, if it made sense for your insurance needs, you could lower the coverage or increase the deductible. That would generally lower the monthly premium. But that could lead to financial issues if your home were to require large repairs.

The other way to save — seeking out discounts — is a good option for everyone. Depending on the insurer you go with, you may see discounts for bundling your home and auto policy, staying with the company for multiple years, or adding protective tech to your home, like a home security system.

Comparing Common Discounts Across Top Companies

USAA »
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Amica »
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Allstate »
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
State Farm »
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Nationwide »
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Company
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Company
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Company
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Company
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Company
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Company
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Company
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Company
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts
Company
Multi-Product Discounts (bundles)
Loyalty Discounts
Protective Devices Discounts
Claim-Free Discounts
New Home Credit
Military Discounts

The best insurance company for you depends on your unique needs. So, while the monthly premium is a useful measure for comparing policies, you also want to look at what coverage that is buying you. For instance, if you have a shed on your property and you want that to be included in your coverage, you need to make sure the policies provide coverage for separate structures — or that you at least have the option to purchase that. In that case, a cheap policy that excludes separate structures probably wouldn’t be the best one, given your needs.

In Mississippi, a typical homeowners insurance policy will include five types of coverage, including dwelling and personal property coverage (which help cover you if those are damaged) as well as loss of use (which applies if you need to stay somewhere else while your home is being repaired). Liability coverage and medical payments are also common. Those protect you if someone is injured on your property, resulting in a lawsuit or medical expenses, respectively.

That said, the exact coverages included will depend on the insurer you select, as well as if you choose extra coverages that aren’t included in a basic policy.

Comparing Common Features Across Top Companies

USAA »
OTHER STRUCTURES COVERAGE Yes
IDENTITY THEFT PROTECTION Yes
VALUABLE POSSESSIONS Optional
WATER BACKUP No
DWELLING/PERSONAL PROPERTY REPLACEMENT Yes
Amica »
OTHER STRUCTURES COVERAGE Yes
IDENTITY THEFT PROTECTION Optional
VALUABLE POSSESSIONS Optional
WATER BACKUP Optional
DWELLING/PERSONAL PROPERTY REPLACEMENT Optional
Allstate »
OTHER STRUCTURES COVERAGE Yes
IDENTITY THEFT PROTECTION Optional
VALUABLE POSSESSIONS Optional
WATER BACKUP Optional
DWELLING/PERSONAL PROPERTY REPLACEMENT Optional
State Farm »
OTHER STRUCTURES COVERAGE Yes
IDENTITY THEFT PROTECTION Optional
VALUABLE POSSESSIONS Optional
WATER BACKUP Optional
DWELLING/PERSONAL PROPERTY REPLACEMENT Optional
Nationwide »
OTHER STRUCTURES COVERAGE Yes
IDENTITY THEFT PROTECTION Optional
VALUABLE POSSESSIONS Optional
WATER BACKUP Optional
DWELLING/PERSONAL PROPERTY REPLACEMENT Optional

Company

OTHER STRUCTURES COVERAGE

IDENTITY THEFT PROTECTION

VALUABLE POSSESSIONS

WATER BACKUP

DWELLING/PERSONAL PROPERTY REPLACEMENT

USAA » Yes Yes Optional No Yes
Amica » Yes Optional Optional Optional Optional
Allstate » Yes Optional Optional Optional Optional
State Farm » Yes Optional Optional Optional Optional
Nationwide » Yes Optional Optional Optional Optional
Company
OTHER STRUCTURES COVERAGE
IDENTITY THEFT PROTECTION
VALUABLE POSSESSIONS
WATER BACKUP
DWELLING/PERSONAL PROPERTY REPLACEMENT
Company
OTHER STRUCTURES COVERAGE
IDENTITY THEFT PROTECTION
VALUABLE POSSESSIONS
WATER BACKUP
DWELLING/PERSONAL PROPERTY REPLACEMENT
Company
OTHER STRUCTURES COVERAGE
IDENTITY THEFT PROTECTION
VALUABLE POSSESSIONS
WATER BACKUP
DWELLING/PERSONAL PROPERTY REPLACEMENT
Company
OTHER STRUCTURES COVERAGE
IDENTITY THEFT PROTECTION
VALUABLE POSSESSIONS
WATER BACKUP
DWELLING/PERSONAL PROPERTY REPLACEMENT
Company
OTHER STRUCTURES COVERAGE
IDENTITY THEFT PROTECTION
VALUABLE POSSESSIONS
WATER BACKUP
DWELLING/PERSONAL PROPERTY REPLACEMENT
Company
OTHER STRUCTURES COVERAGE
IDENTITY THEFT PROTECTION
VALUABLE POSSESSIONS
WATER BACKUP
DWELLING/PERSONAL PROPERTY REPLACEMENT
Company
OTHER STRUCTURES COVERAGE
IDENTITY THEFT PROTECTION
VALUABLE POSSESSIONS
WATER BACKUP
DWELLING/PERSONAL PROPERTY REPLACEMENT
Company
OTHER STRUCTURES COVERAGE
IDENTITY THEFT PROTECTION
VALUABLE POSSESSIONS
WATER BACKUP
DWELLING/PERSONAL PROPERTY REPLACEMENT
Company
OTHER STRUCTURES COVERAGE
IDENTITY THEFT PROTECTION
VALUABLE POSSESSIONS
WATER BACKUP
DWELLING/PERSONAL PROPERTY REPLACEMENT

Company

OTHER STRUCTURES COVERAGE

IDENTITY THEFT PROTECTION

VALUABLE POSSESSIONS

WATER BACKUP

DWELLING/PERSONAL PROPERTY REPLACEMENT

USAA » Yes Yes Optional No Yes
Amica » Yes Optional Optional Optional Optional
Allstate » Yes Optional Optional Optional Optional
State Farm » Yes Optional Optional Optional Optional
Nationwide » Yes Optional Optional Optional Optional
Liberty Mutual » Yes Optional Optional Optional Optional
Chubb » Yes Optional Optional Yes Yes
Progressive » Yes No Optional Optional Yes
Farmers Insurance » Optional Optional Yes No Optional

Flood insurance covers water damages specifically caused by a flood. So, while a homeowners policy will cover certain water-related damages — like a burst pipe or water backup — flooding and flood-related damages wouldn’t be covered. Hence the potential usefulness of flood insurance.

And one inch of floodwater can cause up to $25,000 in damage, according to FEMA. Flood insurance is sold by The National Flood Insurance Program (NFIP), through insurance agents and companies. The NFIP is managed by FEMA and works with communities to help enforce floodplain management.

Earthquake coverage is a similar deal as flood insurance in that it can cover home policy gaps. In this case, it provides coverage for earthquake-related damages, which are excluded from homeowners insurance policies. For example, if an earthquake were to damage your home’s foundation, you’d need an earthquake policy, rather than a homeowners policy, to have the costs of repairs covered. If you’re interested in learning more about earthquake insurance, or you want to get a policy, you should talk to your insurance agent.

Yes* denotes that the coverage is available for purchase through the insurer, but the insurance may ultimately be from an external program, such as the NFIP (flood), CEA (California Earthquake Authority), or another partner (ie. Palomar for Lemonade Earthquake).

Yes** denotes that an HO-3 homeowners policy with the insurer typically covers fire damage, but wildfires may be specifically excluded or coverage may be limited depending on your location.

No* denotes that, while a company does not participate in the NFIP, customers can enroll and report claims to agents and/or directly to the NFIP.

Disclaimer

The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only.

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For more information on Homeowners Insurance please visit our other guides:

Other Insurance Ratings From 360 Reviews

At U.S. News & World Report, we rank the Best Hospitals, Best Colleges, and Best Cars to guide readers through some of life’s most complicated decisions. Our 360 Reviews team draws on this same unbiased approach to rate the products that you use every day. To build our ratings, we researched more than 24 homeowners insurance companies and agencies and analyzed 15 third-party review sources. Our 360 Reviews team does not take samples, gifts, or loans of products or services we review. All sample products provided for review are donated after review. In addition, we maintain a separate business team that has no influence over our methodology or recommendations.

For this study, U.S. News worked with Quadrant Information Services to analyze a report of publicly available insurance rates using all the available ZIP codes in Mississippi for the insurance companies in our rating of the Best Homeowners Insurance Companies of 2023 that operate in that state. The insurance rates in our study are based on sample rates for a 47-year-old, married applicant household with a 728 FICO credit score. The rates were obtained for a HO3 policy covering a wood frame house with 10% Other Structures Coverage, 20% Loss of Use Coverage, 50% Personal Property Coverage, and a guest medical limit of $5,000.

Our goal is to empower consumers with the information and tools they need to make informed decisions. More information about our 360 Reviews methodology for evaluating homeowners insurance companies is here.

U.S. News 360 Reviews takes an unbiased approach to our recommendations. When you use our links to buy products, we may earn a commission but that in no way affects our editorial independence.

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