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Renters insurance in Mississippi costs an average of $387, and there are a lot of companies that offer coverage. Insure.com analyzed rates and third-party ratings to help you narrow down your choice.
Our top pick for renters insurance in Mississippi is Southern Farm Bureau. If rates matter most to you, the cheapest option is State Farm, but it’s always important to consider the company’s reputation.
Our analysis includes many smaller regional companies to ensure you can see a broad selection of options. You can also take a look at the best renters insurance companies nationwide for more information on major insurers.
Key Takeaways
- The average cost of renters insurance in Mississippi is $387, but you can save by shopping around.
- In Mississippi, Southern Farm Bureau offers the best renters insurance based on our analysis.
- Other top companies in Mississippi include Farmers and Nationwide.
How we picked the best renters insurance companies
In our analysis, we used a sample policy with $40,000 in personal property coverage with $30,000 for liability and a $1,000 deductible to field rates for renters insurance in Mississippi.
Overall, we examined 149 companies and analyzed nearly 17 million quotes from 2023 across all states. We then narrowed the list to the companies with the best rates and reputation.
Insure.com’s choice: Best renters insurance companies in Mississippi
Here is a list of the best renters insurance companies in Mississippi:
| Rank | Company group | Annual premium | AM Best rating | NAIC rating | Score out of 5 |
|---|---|---|---|---|---|
| 1 | Southern Farm Bureau | $315 | A- | 0.23 | 5 |
| 2 | Farmers | $394 | A | 0.54 | 4.26 |
| 3 | Nationwide | $302 | A+ | 0.87 | 3.99 |
| 4 | State Farm | $291 | A++ | 0.95 | 3.95 |
| 5 | Travelers | $764 | A++ | 0.54 | 3.48 |
| 6 | Allstate | $793 | A+ | 0.9 | 2.68 |
What company has the cheapest renters insurance quotes in Mississippi?
State Farm offers the cheapest renters insurance in Mississippi at $291 a year. It is followed by Nationwide and Southern Farm Bureau.
However, the cheapest insurer in the state won’t necessarily offer the most affordable policy to you. The best way to get a great deal is to compare quotes from several different companies.
| Company group | Average annual premium | Average monthly premium |
|---|---|---|
| State Farm | $291 | $24 |
| Nationwide | $302 | $25 |
| Southern Farm Bureau | $315 | $26 |
| Farmers | $394 | $33 |
| Travelers | $764 | $64 |
| Allstate | $793 | $66 |
| USAA* | $148 | $12 |
Note: USAA only offers coverage to military members, veterans and their families.
Average cost of renters insurance in Mississippi by city
Where you live within the state also can play a major role in what you pay for renters insurance. Here is the average cost of renters insurance in Mississippi by city.
| City | Average annual premium | Average monthly premium |
|---|---|---|
| National average | $263 | $22 |
| State average | $387 | $32 |
| Biloxi | $622 | $52 |
| Gulfport | $621 | $52 |
| Hattiesburg | $381 | $32 |
| Jackson | $406 | $34 |
| Southaven | $355 | $30 |
Renters insurance rates vary from one city to another. But with Insure.com, finding the right renters insurance policy is easy. Learn more about renters insurance costs for different cities below.
Renters insurance rates in Mississippi by city
Biloxi
Gulfport
Hattiesburg
Jackson
Southaven
Is renters insurance mandatory in Mississippi?
No U.S. state requires tenants to purchase renters insurance. However, your landlord may require you to have a policy as a condition of renting the unit.
Even though the law does not require you to purchase renters insurance, it is a good idea to do so. In a worst-case scenario, a good renters insurance policy could save you hundreds of thousands of dollars in expenses that otherwise would come out of your pocket.
Frequently asked questions
How much renters insurance do I need in Mississippi?
Everybody’s insurance needs are different, and the exact amount of coverage you require will likely depend on what you need to protect. If you have a lot of expensive items, you will likely need more coverage than someone who lives as a minimalist.
“Keep in mind when purchasing renters insurance that you’re buying coverage to repair or replace your personal belongings if they are damaged, destroyed or stolen,” says Carole Walker, executive director of the Rocky Mountain Insurance Association.
Walker says it’s important to note that you may need to purchase extra coverage for big-ticket or expensive personal items.
“Talk to your insurance professional about endorsem*nts,” she says, noting that you might need to pay more to protect jewelry, art and antiques.
Regardless of how many possessions you have, it is important to purchase enough liability coverage to protect you if you are responsible for damages to another person or their property.
Does renters insurance cover water damage?
Renters insurance pays for some types of water damage, but not others. For example, if a pipe bursts and damages your expensive TV or computer, you should be covered. If a severe storm tears off part of the roof and rainwater pours over your expensive couch, that also should be covered.
However, water damage caused by a flood would not be covered. You would need a separate flood policy for that.
Water damage associated with sewer line damage is also unlikely to fall under the scope of your renters insurance policy. However, you might be able to purchase an endorsem*nt that would give you coverage for such events.
Can my landlord require me to buy renters insurance?
Yes, landlords and property management companies can require you to purchase renters insurance as part of your lease.
However, this requirement must be written into the lease. Failure to purchase renters insurance can be grounds for eviction.
Landlords generally require you to purchase renters insurance coverage because it protects them and other tenants should you be responsible for damages, especially if those damages impact another person or their property.
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On this page
- How we picked the best renters insurance companies
- Insure.com’s choice: Best renters insurance companies in Mississippi
- What company has the cheapest renters insurance quotes in Mississippi?
- Average cost of renters insurance in Mississippi by city
- Is renters insurance mandatory in Mississippi?
- Frequently asked questions
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