The Best Cheap Renters Insurance in Mississippi
Mississippi renters can find the cheapest insurance from Nationwide — a policy costs $20 per month, on average.
Compare Cheap Renters Insurance in Mississippi
Finding the best renters insurance for your needs means choosing a company that combines affordability with useful policy features and dependable service. To help you find coverage, we collected rates across 25 of the largest cities in Mississippi from some of the most popular insurers.
The average cost of renters insurance in Mississippi is $375 per year, or $31 per month.
This makes Mississippi the second-most expensive state for renters insurance in the country — a policy here costs $160 per year more than the national average of $215.
Mississippi renters insurance quotes
Nationwide offers the cheapest renters insurance in Mississippi. On average, a policy from Nationwide costs $238 per year, which is $137 per year cheaper than the statewide average.
Compare Cheap Renters Insurance in Mississippi
The cost you're quoted for renters insurance depends on several factors that differ for each person. For instance, the price of renters insurance depends on your location, the size and material of your home and your coverage limits.
Cheapest renters insurance companies in Mississippi
Company | Monthly cost | |
|---|---|---|
| Nationwide | $20 |
| State Farm | $23 |
| Travelers | $27 |
| Allstate | $32 |
| Amica | $38 |
| Farmers | $48 |
Your renters insurance is also determined by a variety of personal details, like marital status, insurance history and age. For this reason, you likely won't even see the same rates as someone who lives close by.
Methodology
Best renters insurance for most people: Nationwide
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Editor rating
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Average monthly rate
$20 ?
Pros and cons
The best renters insurance in Mississippi for most people comes from Nationwide. Typically, Nationwide charges $20 per month for renters insurance, or $238 per year, which is 37% cheaper than the state average.
Nationwide's policy features give it an edge over its competitors. On top of the protections you get with a standard renters insurance policy, you can purchase extra coverage for valuable items, like jewelry, guard against the expenses that come from backed-up drains and sump pumps and upgrade to replacement cost coverage.
Many policyholders are happy with Nationwide's service, too. The insurer receives about half as many complaints as other insurers of a similar size, according to the National Association of Insurance Commissioners (NAIC). However, the company received a below-average score from J.D. Power, which ranks national renters insurance companies based on a survey of their policyholders.
Best customer service: Amica
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Editor rating
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Average monthly rate
$38 ?
Pros and cons
If you're looking for the best-rated renters insurance in Mississippi, Amica is the best option for you. Amica receives very few complaints for an insurer of its size, according to the NAIC. In addition, ValuePenguin editors awarded the company a high score based on the value it provides customers and service reviews.
While Amica's basic coverage will suit the needs of most renters, there aren't many ways to customize your coverage. For example, the company doesn't offer water backup coverage, a common option that protects you from flooding due to backed-up pipes or sump pump failure.
The average cost of coverage from Amica is about $38 per month — 20% more expensive than the usual cost of renters insurance in Mississippi. However, there are a number of discounts to help lower your premiums at Amica.
- Automatic payment discount
- Buy online discount
- Claim-free discount
- Loyalty discount
- Multipolicy discount
Best for military families: USAA
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Editor rating
Pros and cons
The best renters insurance for current and retired members of the military and their families comes from USAA. Unfortunately, it's only these renters who are eligible to purchase coverage from the insurer.
However, the coverage included in a standard policy from USAA is unmatched. The company includes earthquake insurance, personal replacement cost coverage and most importantly for Mississippians, flood coverage in its policies. These coverage options are not automatically included by other companies in the state.
The service offered by USAA is the best among the companies we surveyed. Its renters insurance received the top score in J.D. Power's annual customer satisfaction survey. In addition, USAA only receives about half of the complaints expected for its size, according to data from the NAIC.
Mississippi renters insurance quotes by city
Renters living in the northwestern part of Mississippi have the cheapest insurance rates in the state, while those living on the Gulf Coast pay much more for coverage.
Renters insurance rates fluctuate significantly across the 25 largest cities in Mississippi, mostly due to geography. People living on the Gulf Coast in Gautier pay the most expensive rate in the state at around $48 per month. In contrast, renters in Madison and Columbus pay $25 per month for coverage.
That's because coastal cities are more likely to experience severe weather, like tropical storms and hurricanes. Although most renters insurance doesn't include flood coverage, damage due to wind and hail, which are covered hazards, is also more common in these areas.
City | Average annual cost | Difference from state average (%) |
|---|---|---|
| Biloxi | $482 | 23% |
| Brandon | $324 | -18% |
| Clinton | $320 | -19% |
| Columbus | $305 | -22% |
| Gautier | $570 | 45% |
Renters in Mississippi's many coastal cities could have trouble requesting quotes online. In Biloxi, Gulfport and Pascagoula, tenants may be asked to contact a representative in person or over the phone instead of filling out an online quote form.
Best-rated renters insurance in Mississippi
Amica and USAA offer outstanding service to Mississippi renters — both insurers receive very few customer complaints.
Choosing an insurance company with a reputation for good customer service is important.
Although you probably won't interact with your insurer on a regular basis, dependable service is invaluable if you ever have to make a claim. A responsive, helpful customer service department can speed up the claims process and alleviate stress. If you select a company with a poor customer service reputation, you may have to put in a lot more work to get your claim resolved, the process could take much longer and you might end up with a settlement offer you're not happy with.
Company |
Rating
|
|---|---|
| USAA | |
| Amica | |
| State Farm | |
| Nationwide | |
| Allstate | |
| Travelers | |
| Farmers |
What does renters insurance cover in Mississippi?
Most insurance providers offer similar standard forms of protection, including:
- Medical payments to others
- Loss of use coverage
Many companies also offer optional coverages, also known as endorsements, that you can use to personalize your policy. Adding endorsements to your renters insurance will raise your premiums. However, these extra coverages can be useful depending on your personal situation. Some of the most popular endorsements are:
- Water backup protection: Pays for damage caused by a backed-up drain or broken sump pump system.
- Replacement cost coverage: Pays to replace your lost or damaged belongings with brand new items, rather than providing their current market value, which takes wear and tear into account.
- Valuables plus: Allows you to add extra coverage to expensive items, such as jewelry and firearms, which aren't typically covered in full by standard policies.
Your renters insurance does not cover the flood damage that accompanies a hurricane or tropical storm.
While you won't have to worry about damage to your home's structure, Mississippi renters living near the coast should consider purchasing a flood insurance policy to protect their belongings from water damage.
Frequently asked questions
How much is renters insurance in Mississippi?
The average cost of renters insurance in Mississippi is $31 per month, or $375 per year. That's $13 per month more expensive than the national average.
Does Mississippi require renters insurance?
Renters insurance is not a legal requirement in Mississippi. However, your landlord or property management company may require you to purchase a policy as a part of your lease agreement.
How much is renters insurance in Jackson, MS?
Renters in Jackson can expect to pay around $38 per month for insurance, which is 16% more expensive than the Mississippi state average. In comparison, people living in Biloxi pay an average of $40 per month for coverage.
Methodology
We analyzed renters insurance companies in Mississippi according to how well each insurer performed in three areas: affordability, coverage options and customer service.
To determine affordability, we collected quotes from six of the largest insurers in Mississippi across 25 of the largest cities in the state. Rates are based on a 25-year-old unmarried man with no pets and no history of insurance claims.
Quotes include the following coverage limits:
Coverage | Limit |
|---|---|
| Personal property | $30,000 |
| Personal liability | $100,000 |
| Medical payments | $1,000 |
| Deductible | $500 |
To determine customer service ratings, we scrutinized three measurements of service:
- NAIC complaint index: A company's complaint index reveals the number of complaints it receives relative to its size. The NAIC uses 1.00 to represent the normal number of complaints expected, meaning insurers with a score below 1.00 get fewer complaints than expected.
- J.D. Power Homeowners Insurance Study - Renters Insurance: J.D. Power polled policyholders from the nation's largest renters insurance companies and ranked them according to their service, price and policy features.
- ValuePenguin editor rating: Our editors rate insurers based on a combination of customer service reviews, availability of coverage options and the overall value provided to policyholders.