Mississippi is about as south as it gets, and for people who live in the state, there is often no place like home. There are people from many backgrounds in the state, yet like everywhere else, there are looming threats such as hurricanes, fires, and other natural disasters that can threaten your current lifestyle, especially if you live in an apartment. For these problems and possibilities, we recommend you get renters insurance, which while more expensive in Mississippi, is necessary. A good policy can get you back on your feet much more quickly should the worst happen.
Here are the five cheapest renters insurance providers operating in Mississippi:
The Five Cheapest Quotes
Renters insurance rates can differ from person to person, especially in Mississippi, so we would like you to know upfront that what you experience might not be exactly what you read about below, but the general guidelines will stay consistent and we are sure that for most people these are the five cheapest providers.
The number listed next to each provider is the average annual rate for a standard policy.
1) State Farm: $300
For many to most states, we find State Farm to be the cheapest provider, and this is also the case in Mississippi. A massive company that handles millions of policies, you can trust that State Farm will have the infrastructure to handle any claim or situation you might have, no matter how large the issue.
The main (and worrying for Mississippi) disadvantage is that water damage and flooding coverage are not their strong suits, and it can be difficult to near-impossible in some areas for people to obtain such coverage.
You can expect the following working with State Farm:
- A commitment to getting you a basic, workable policy that you can afford.
- An extremely competitive loss-of-use policy that can help you stay completely stable should the worst happen.
- Expensive items coverage that goes beyond what you might expect from the cheapest provider in the state.
2) Liberty Mutual: $406
A company that might be your best choice if you aren’t sure where else to go, Liberty Mutual is a provider of all-around strong coverage that you can safely put away until you need it. An easy company to work with from the start due to their excellent online quoting system and startup process, they’re a great choice for obtaining peace of mind.
There aren’t many problems with them when it comes to renters insurance, but we do advise you to avoid bundling with them (their other offerings aren’t always so strong) and to also be careful about default coverages if you know your apartment is heavily different from the norm.
You can expect the following working with Liberty Mutual:
- Discounts that can make the cost of renters insurance more bearable via partnerships with a long list of organizations, one of which you likely belong to.
- Higher coverages across the board.
- Coverage for your property whether it’s in your apartment or not.
3) Allstate: $406
One of the largest providers in the country and a strong choice for some Mississippi renters, Allstate is equal to Liberty Mutual in price but has notably different strengths in its policies, and you can expect that you won’t have the same quote for each one. Allstate will be for many the superior option because it offers excellent flood and water damage coverage for most residents, which will be nearly a necessity when storm season comes each year.
All of this considered, we would like to note that they don’t always have the very best customer service, and they won’t offer too many additional options when compared to other providers.
You can expect the following working with Allstate:
- Great ease-of-access and an always available customer service team.
- Very competitive auto-insurance bundling options, especially if you’ve crossed GEICO off your list.
- A very simple solution that won’t unnecessarily complicate the insurance process.
4) GEICO: $495
Despite their price, GEICO is an excellent choice if you happen to have car insurance with them (or are willing to switch) and would like to get a bundle. By that metric, they might be the cheapest provider listed here, so getting a combined quote along those lines would be well worth it for many readers.
However, you might want to note that its possible GEICO won’t underwrite your policy themselves and instead use a third-party to do so, which means that when it comes time to make a claim you’ll be working with another company. You might want to do some research or ask about who they work with, and then make the choice for yourself.
You can expect the following working with GEICO:
- Excellent online tools and quoting systems that are among some of the best in the industry.
- Excellent auto-insurance pairings.
- A strong infrastructure that you can rely on to provide service day-in and day-out.
5) Nationwide: $660
While Nationwide in Mississippi is very expensive by renters insurance standards, they also might be the best choice for those looking for a more premium option or for more customization options not see elsewhere. With Nationwide, you’ll be able to customize the coverage level you get for different categories of items, and you’ll also be able to tweak your deductible. These options combined with potential bundling opportunities mean that you can possibly get a more affordable policy.
The main disadvantage outside of the price is that some of the default coverages they offer might not be up to par with their much cheaper competitors.
You can expect the following working with Nationwide:
- Coverage that can go beyond the confines of your immediate apartment to protect your other possessions.
- A free annual assessment of your insurance situation so you can be sure you’re getting the cheapest, most effective plan possible.
- A high level of service standards across the board.
The high rates only prove the need to get a good renters insurance policy in Mississippi, especially if you live in a high-risk area. While you may want to purchase additional flood and water damage insurance in most circumstances, especially if you’re closer to the coast, only you will know exactly what you need from a policy. For this reason, we encourage you to do additional research beyond this article for the companies you think would be able to serve you best. Whatever your final choice, though, we hope that you soon find the peace of mind you’re looking for and can live happily in your apartment for years to come.