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Mississippi customers save $693 on average when they bundle their home and auto insurance policies with SelectQuote.
SelectQuote can help you find the best deal on home and auto insurance when we compare rates from several insurance companies at one time.
Home Insurance and Car Insurance in Mississippi
If you live in Mississippi, you understand the importance of shopping for affordable home and auto insurance. From natural disasters like hurricanes and windstorms to the possibility of flooding, Mississippi homeowners need insurance to protect their property in the event of a catastrophe. At SelectQuote, we help you shop for home and auto coverage and save money at the same time with bundled insurance policy discounts that won’t break the bank. Save an average of $693 per year when you shop with us today.
Homeowners Insurance in
Mississippi homeowners face all sorts of perils, including frequent windstorm damage from hurricanes and tornadoes. Home insurance can help offset the costs of repairing or rebuilding after these types of events, but it can also protect you against all manner of catastrophic losses. Because the average Mississippi homeowner pays over $1,800 per year1 for homeowners insurance, finding the right policy that fits your budget is key. With bundled home and auto insurance from SelectQuote, customers can save quite a bit on their coverage.
When it comes to home insurance, there are two important distinctions to look out for: actual cash value policies and replacement cost policies. With an actual cash value policy, your insurance company will pay the actual cash value (with depreciation) to repair or replace your loss, up to the policy limit or the cash value, whichever is lower. Replacement cost policies will pay up to your limit or the full replacement cost.
What does that mean? For example, let’s say it costs $250,000 to rebuild your home after a covered loss, but the actual cash value your policy assigns is $200,000 after depreciation is factored in. With a replacement cost policy with a $250,000 limit, you can rebuild without paying more than your deductible. An actual cash value policy would only pay $200,000, leaving you responsible for the remaining amount.
Homeowners Insurance Coverage Options in
When buying home insurance in Mississippi, your policy will likely include a set of standard coverages. The types of home insurance coverage available to most Mississippi homeowners include:
- Dwelling coverage protects the structure of your home, including walls and roof.
- Personal property coverage protects items inside your home, like furniture or appliances, if damaged or stolen. It can even provide replacement or repair if the loss occurs outside your home.
- Liability coverage defends you and protects against lawsuits when someone is injured on your property. It also protects you from liability if someone else’s property is damaged.
- Guest medical protection coverage pays medical expenses for a person injured on your property.
- Other structures cover damages or losses related to the physical structure of buildings that are not connected to your house, such as a detached garage.
Common Causes of Loss in
Home insurance is more expensive in Mississippi than the national average, to the tune of about $450 per year. Insurance companies paid more than $400 million for all types of insurance losses in 2020 in the state of Mississippi.2 In addition to the standard risks of loss from fire or theft, the bulk of Mississippi’s insurance losses come from three key types of claims:
- Tornadoes: A frequent cause of loss in the state, Mississippi sees several tornadoes per year. The state currently ranks third in the nation for the average number seen each year.3
- Hurricanes: Because Mississippi sits along the Gulf Coast, it is at increased risk for hurricane damage. While there is currently no insurance available that specifically protects against hurricane damage, other types of insurance can help you repair or rebuild after a storm.
- Tropical storms: While milder than hurricanes, tropical storms can still bring strong winds and flooding. If you’re unsure about your risk of loss due to tropical storms, a licensed insurance agent can help you find the right level of coverage for your needs.
Additional Coverage Options Recommended for Homeowners
If you’re unsure about the level of protection offered by your existing home insurance policy, SelectQuote can quickly help determine if you need additional coverage to supplement your home insurance protection. Some common extra insurance policies considered by Mississippi homeowners include:
- Flood insurance: No homeowners insurance covers flooding as part of a typical policy, so you may want to consider this additional coverage. You can buy flood insurance from the National Flood Insurance Program (NFIP) or from a private insurance carrier.
- Water backup coverage: In some cases of heavy rains, sump pumps can fail or sewers can back up. This coverage helps cover losses related to leakage and seepage, as well as water backup.
- Scheduled property coverage: This coverage is meant for personal property with a high dollar value, such as wedding rings, antiques and other expensive property. The valuables must often be appraised by a professional.
Our Home Insurance Partners in
SelectQuote works with highly rated home and auto insurance companies in the United States to provide you with affordable home insurance coverage. We compare rates from dozens of carriers at once to help you save time and money when shopping for your insurance.
What is the average home insurance cost in ?
SelectQuote customers in Mississippi pay an average of $158.38+ per month for home insurance. Your cost will vary based on several factors, including:
- Your ZIP code
- The age and condition of your home
- Your credit history
- The number of home insurance claims you’ve filed
- Elevated risk factors, including flooding or storm damage
- Your policy limits
- Your deductible
Homeowners Insurance Discounts in
Even with the elevated home insurance premiums faced by Mississippi homeowners, most insurance companies offer robust discounts for a variety of reasons. Whether you’re shopping for home insurance for the first time or looking for a better rate, ask about discounts for:
- Buying or building new home
- Customer loyalty
- Installing a home security system
- Being a member of a specific profession, such as military active service
- Belonging to a community organization
- Bundling your home and auto insurance policies under one carrier
Bundle Your Home and Auto Insurance to Save Money
Bundling home and auto insurance can often lead to significant savings on your insurance rates. SelectQuote customers can save an average of $693 per year on bundled home and auto insurance.
Average Home and Auto Insurance Rates in
Rates listed below are real insurance rates paid by SelectQuote customers in select Mississippi cities. Rates will vary based on your ZIP code, policy limit, deductible and other discounts.
| City | Avg. Monthly Home Insurance Rate | Avg. Monthly Auto Insurance Rate | Avg. Monthly Rate of Bundled Policies |
|---|---|---|---|
| Brandon | $115.19 | $116.08 | $245.28 |
| Columbus | $163.45 | $350.85 | $561.48 |
| Jackson | $167.42 | $196.61 | $328.33 |
| Olive Branch | $163.64 | $227.07 | $367.91 |
| Southaven | $118.48 | $141.09 | $221.50 |
Average monthly rates are from effective SelectQuote customer policies between 4/1/2022 and 3/31/2023.
Car Insurance in
Auto Insurance Laws and Requirements
Mississippi law requires all drivers to carry a minimum legal amount of auto insurance.5 This auto insurance protects drivers from financial liability in the aftermath of a car accident. Bodily injury liability insurance pays for medical bills and funeral expenses that stem from a car accident where you as the driver are found at fault. Property damage liability coverage pays for property damage. Required limits for liability insurance are as follows:
- $25,000 per person for bodily injury liability coverage
- $50,000 per accident for bodily injury coverage
- $25,000 per accident for property damage
In addition to liability insurance coverage, you may purchase additional types of auto insurance coverage. This can include underinsured and uninsured motorist coverage, which helps pay expenses related to an auto accident where the other driver is found at fault and either lacks sufficient insurance or doesn’t have insurance at all.
Your auto lender may require you to purchase extra insurance on a vehicle if it’s financed or leased, which is known as “full coverage.” Collision coverage pays for damage to your vehicle after an incident involving another car. Comprehensive coverage pays for damages as a result of theft, falling objects, fire, weather damage and wild animals. Gap insurance pays the difference between what the vehicle is worth when totaled after an accident and what you currently owe on the loan.
All data on average expenditures is provided by the Insurance Information Institute.
| Types of Coverage | Minimum State Requires |
|---|---|
| Bodily Injury Liability | $25,000 per person / $50,000 per accident |
| Property Damage Liability | $25,000 |
| Uninsured Motorist | Not required |
| Underinsured Motorist | Not required |
| Personal Injury Protection | Not required |
| Collision | Not required |
| Comprehensive | Not required |
| Gap Insurance | Not required |
Teen Driving Laws
All teen drivers are required to carry auto insurance, either on their own or as a covered party on their parent or guardian’s insurance policy. It is often cheaper to be added as an additional driver than to buy their own insurance. Drivers who are 16 years of age must have held a learner’s permit for 12 months or until their 17th birthday. They also must pass knowledge and eye exams. Mississippi does not currently require teen drivers to participate in a graduated licensing program.6
Car Registration Information
Registering your vehicle in Mississippi requires proof of ownership (a title), a valid address, driver’s license, VIN and payment for the registration fee. You do not need to bring proof of auto insurance, although you are required to keep a copy of your auto insurance card in your vehicle at all times.
What is the average car insurance cost in ?
The average cost of auto insurance for SelectQuote customers is $176.57.+ Your own auto insurance rates will differ based on several factors, including:
- Your ZIP code
- Your driving record
- Your credit history
- Your deductible
- Your coverage limits
Our Auto Insurance Partners in
SelectQuote partners with several auto insurance companies in Mississippi to provide unbiased, competitive quotes for insurance coverage. We shop for auto insurance and run the numbers—including any applicable discounts—to find you the best rate on coverage that meets your needs.
Home and Auto Insurance Frequently Asked Questions
SelectQuote helps many Mississippi homeowners and drivers find insurance to cover their property, which means we hear some questions more than others. Listed below are some of the most common questions asked when shopping for insurance coverage.
How do I shop for insurance in Mississippi?
It’s easy to shop for insurance in Mississippi. You can contact various insurance companies for rates on your own or deal with a licensed insurance agent. Another option is to partner with a company like SelectQuote, who can compare rates from several companies at once to help you find the best deal.
How do I shop for homeowners insurance in ?
- Know your coverage needs. Find out what it would cost to rebuild your home after a catastrophe.
- Create a personal property inventory to ensure you have enough coverage to replace necessities.
- Compare rates from several insurance companies at once to find the best deal on coverage. SelectQuote can help with this!
- Examine your coverage options each year to make sure you are not underinsured or paying too much for your current coverage.
How do I shop for auto insurance in ?
- Shopping for auto insurance is a little less complicated because you need a minimum legal amount of coverage. Determine appropriate coverage limits, including any other insurance required by your auto lender.
- Compare auto insurance rates from several insurance companies at once. Don’t forget to factor in deductibles, coverage limits or discounts.
- Examine your coverage options each year to ensure you’re getting the best deal.
Do I need mobile home insurance in Mississippi?
Because mobile homes are more susceptible to damage due to high winds and fire, you may be required by your home loan lender to purchase a mobile home policy rather than a home insurance policy. Some companies specialize in mobile home insurance. SelectQuote can help you determine whether this type of coverage is best for your needs.
Do I need hurricane insurance in Mississippi?
There’s no such thing as dedicated hurricane insurance. Mississippi homeowners who have home insurance and live along the coast may need to purchase a separate windstorm insurance policy, which includes all manner of damage due to high winds—including those common during hurricanes and tropical storms. In addition, these homeowners will likely want to buy flood insurance due to the damage that can occur during storm surges.
Is Mississippi a no-fault auto insurance state?
Mississippi is a “fault” auto insurance state, which means a person who suffers property damage or an injury in an auto accident can file a claim with the other driver’s insurance company or sue them for financial compensation.
SelectQuote Can Shop Home or Auto Insurance to Help Save You Time and Money
Buying home and auto insurance for your Mississippi property shouldn’t be complicated, and it’s not when you choose SelectQuote! We help customers all across the state find affordable home and auto coverage that meets their needs. Whether you’re a first-time homeowner looking for the right coverage or are looking for a better rate on your Mississippi car insurance, contact us. We’ll find the right kind of bundled home and auto insurance to save you time and money.
- https://www.bankrate.com
- https://www.iii.org/publications
- https://www.iii.org/fact-statistic
- https://www.statista.com
- https://www.mid.ms.gov
- https://www.driverservicebureau.dps.ms.gov
+Average rates calculated are based on effective SelectQuote customer policies in Mississippi between 4/1/2022 and 3/31/2023. Rates will vary based on level of coverage, location, age, and additional determining factors.
