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Mississippi Home Insurance Quotes: Preparing for Sticker Shock

Most Mississippi homeowners are well aware of the trying circumstances entailed in buying home insurance. If you’re new to the state or have never paid attention to the nuances of owning a home, you need to be prepared for the sticker shock that many people suffer when soliciting Mississippi home insurance quotes. Fortunately, by using our service, you can lick your wounds from the comfort and security of your own, soon-to-be-insured home.


Average Price of Mississippi Home Insurance Quotes

According to the Home Insurance Rate Report, Mississippi home insurance is going to run you, on average, $964 a year. This is actually lower than the numbers from 2006 when the average annual price was $998. These numbers compare to a national average of $690 this year and $804 in 2006. In fact, Mississippi home insurance quotes are even more expensive than they appear, given that median home prices are about 20% cheaper than they are nationwide. Worse still, Mississippi ranks dead last for home insurance rates compared to average household income.

So you have to pay more to insure less even though you can’t afford it? Surely, it comes as no surprise that the reason home insurance is more expensive in the Magnolia State is mainly the vulnerability to hurricanes in the southern half of the state and the vulnerability to tornadoes in the northern half. Moreover, if you’ve made repeated claims or live in a coastal county, you may need to use the Mississippi Windstorm Underwriting Association, the insurer of last resort. Many insurance companies have stopped offering insurance in these six counties; in 2007, State Farm Insurance decided to leave the state altogether.

That said, these high insurance premiums don’t apply to every homeowner in the state, at least not evenly. You may live in a relatively low-risk area, and with a solid personal and financial history, your quotes are likely to come in well below this average. Of course, this also means coastal counties will suffer from even higher quotes.

The Fine Print of Mississippi Home Insurance

It goes without saying that you need to read your home insurance policy, but you need to make an honest attempt to understand exactly what’s covered. Chances are your home insurance policy covers the basic 11 perils of homeownership: fire or lightning, windstorm or hail, explosions, riot or civil commotion, damage from aircraft, damage from vehicles, smoke damage, vandalism, theft, volcanic eruption, glass or safety-glazing material damage. But most won’t cover flooding, and getting your claim paid out is rarely a simple process. When calamity strikes, your policy is likely to be fought over, tooth and nail. As most residents know, when Katrina happened, many insurers tried to deny many legitimate claims in order to remain financially solvent. Meanwhile, the state’s Attorney General tried to force insurers to cover flood damage, even for residents who had failed to purchase supplemental flood insurance.

Finding Mississippi Home Insurance Quotes

You might think that with all these hardships it’s difficult to find homeowners insurance quotes. In fact, there are well over 100 insurance companies in the state, many of whom sell home insurance. After all, no matter that they have to charge such high premiums, people still need the protection that home insurance affords. Indeed, don’t let the expense and the headaches persuade you into thinking you don’t need this insurance. To this end, NetQuote may not be able to change global weather patterns, but we can help make sure you find the best home insurance value for your dollar. Fill out our quick online form and we’ll automatically and instantaneously match you to the companies that best fit your insurance needs.

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