Average homeowners insurance cost in Gulfport, MS (2024)
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The average cost of homeowners insurance in Gulfport is $4,929 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $2,512 more than the national average of $2,417.
However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Gulfport depend on a number of factors, including:
Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score
To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide to know how much homeowners insurance cost per month in Gulfport, home insurance cost for different dwelling coverage, also know which companies offer cheap home insurance in Gulfport.
In this guide, we will explain everything from what coverage options are available to which companies have the cheapest rates for homeowners insurance in Gulfport.
Key takeaways
The average cost of homeowners insurance in Gulfport is $4,929 per year.
Allstate is the cheapest homeowners insurance company in Gulfport with an average annual premium of $957.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $832 more a year for home insurance.
Average homeowners insurance cost in Gulfport per month
Gulfport homeowners pay an average of $411 a month, based on our rate analysis. It’s $116 more than the state average of $295 and $210 more than the national average for home insurance across the United States. The price of your homeowners insurance policy in Gulfport may vary depending on where you live, the value of your home, and the coverage you choose.
How much is homeowners insurance for a $200,000 house in Gulfport
The average cost of homeowners insurance in Gulfport, MS is $4,097 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.
Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.
How much is homeowners insurance for a $300,000 house in Gulfport
According to a rate analysis by Insure.com, homeowners in Gulfport pay an average of $4,929 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $832 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.
However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.
How much is homeowners insurance in Gulfport by Company
Among the carriers analyzed, Allstate is the cheapest homeowners insurance company in Gulfport. Its average annual rate for Gulfport homeowners is $957. Southern Farm Bureau ranks second and State Farm makes it to the third spot with an average annual home insurance rate of $1,853.
Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Gulfport and prepared a list of the top ten cheapest home insurance providers. You can find below the Gulfport home insurance companies and their average annual premium.
Home Insurance Company
Annual rate
Allstate
$957
Southern Farm Bureau
$1,773
State Farm
$1,853
Travelers
$6,164
USAA
$6,238
Farmers
$7,309
Nationwide
$8,988
Methodology
Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Gulfport for $300,000 dwelling coverage and $100,000 liability coverage with a $1000 deductible. The data presented are those with a good credit tier alignment.
How much is home insurance in other cities
Biloxi
Hattiesburg
Jackson
Southaven
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The average cost of homeowners insurance in Gulfport, MS is $4,097 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things.
The average cost of homeowners insurance in Biloxi is $4,992 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com's rate data analysis.
How much is homeowners insurance in Mississippi? The average cost of homeowners insurance in Mississippi is $2,624 per year or $219 per month — this is 50% more expensive than the national average of $1,754 per year.
Where a consumer lives makes a big difference in the cost of coverage. People in states prone to hurricanes, high winds and/or hail typically pay higher premiums for homeowner's insurance, as those risk factors have a big impact on insurance costs.
The annual average cost in Mississippi for homeowners insurance is $4,289 for $300,000 of dwelling coverage, which is roughly $357 a month. This is above the national average of $2,151, or $179 a month.
Travelers is the most expensive homeowners insurance company for $200,000, $350,000, $500,000 and $750,000 dwelling coverage amounts. Rates vary significantly among companies because they each have their own formulas for pricing. That means it's vital to comparison shop homeowners insurance quotes when buying a policy.
Mississippi doesn't require homeowners insurance by law, but if you finance your home, your lender may require you to have a homeowners insurance policy in place. Your policy's coverages are designed to safeguard your property and assets.
Mississippi is the birthplace of the blues, and your GEICO Insurance Agent delivers savings in green. Our agents could help you save money on Mississippi insurance for your car, motorcycle, boat, RV, ATV, home, and more—whether you live in the Delta region, in the capital city, or on the Gulf Coast.
The minimum amount of Mississippi auto insurance coverage is $25,000/$50,000/$25,000. In the event of a covered accident, your limits for bodily injury are $25,000 per person, with a total maximum of $50,000 per incident. It also covers up to $25,000 for damage to another person's property.
Is homeowners insurance paid monthly or yearly? If you pay for your homeowners insurance directly, and not through an escrow account, then you can choose whether to pay monthly, quarterly, semiannually, or yearly. If your lender requires you to have an escrow account, your insurance payment is generally made yearly.
The firm's Home Insurance Projection Report foresees a 6% rise in annual premiums in 2024. The increase will put the national average at $2,522 at the end of the year. With climate experts expecting a devastating hurricane season, home insurance costs are forecasted to surge even higher in 2025.
Why homeowners insurance rates are rising. Several factors are making homeowners insurance more expensive: The increase in the number and severity of hurricanes, floods, tornadoes and other harsh weather has led to a spike in claims in many parts of the country.
Older homes are generally built with outdated construction materials and might have a different risk profile due to aging plumbing, electrical and heating systems. Here is a list of important factors to consider when shopping for insurance to adequately protect your older home.
Mississippi is the birthplace of the blues, and your GEICO Insurance Agent delivers savings in green. Our agents could help you save money on Mississippi insurance for your car, motorcycle, boat, RV, ATV, home, and more—whether you live in the Delta region, in the capital city, or on the Gulf Coast.
With an annual average rate of $2,196, USAA homeowners insurance costs less than the national average of $2,417. USAA is also less expensive than many of our top picks for home insurance companies, including State Farm, Allstate and Nationwide.
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