Best homeowners insurance companies in  Missouri for 2024

Compare the best homeowners insurance companies in Missouri

Based on data sourced from Quadrant Information services, the average rate for $300,000 in home dwelling coverage in Missouri is $2,099, or about $175 a month. We based our rankings of the best homeowners insurance in Missouri on companies writing the most cost-effective policies, as well as what standard and optional coverage types they offer.

We also looked at digital tools, third-party scores from the J.D. Power 2023 Home Insurance Study and financial strength ratings from AM Best to assign each carrier a Bankrate Score out of a possible 5.0 points. We hope these Scores will help you quickly compare providers to find a well-rounded carrier for your needs. Based on our extensive research, our choices for the best homeowners insurance in Missouri are USAA, Allstate, State Farm, American Family and Travelers.

The top 5 home insurance companies in Missouri

Additional Missouri home insurance companies to consider

Encompass

How Bankrate chose the best home insurance companies in Missouri

To help you find the best homeowners insurance in Missouri, Bankrate’s insurance editorial team first analyzed average rate data from Quadrant Information Services. Next, we looked at coverage options and potential discounts, as well as how third-party organizations, such as J.D. Power and AM Best, rate the carriers for customer service and financial strength. We compiled this information into a Bankrate Score along with several other metrics.

The better a company performed in each category, the higher its Bankrate Score, for a maximum score of 5.0 points. By using our Bankrate Score as a starting place in your search, you can get a quick sense of the home insurance companies in your area before requesting quotes.

Cheapest home insurance companies in Missouri

For many homeowners, cost is a primary factor when choosing the best coverage for their property. However, Bankrate knows that cheap rates may not be worth it if you're sacrificing valuable coverage options or customer service. Our picks for the cheapest home insurance in Missouri were selected using average rate data from Quadrant Information Services. From there, we looked at coverage options, discounts and third-party ratings to ensure each cheap carrier also offers a quality insurance product.

How to get cheap Missouri home insurance

Comparing average rates gives you a strong baseline to assess your own premium, but your personal rating factors and circumstances will affect what you pay for coverage. If you're seeking cheaper Missouri home coverage, consider the following strategies:

• Ask for multiple quotes: Even if you've settled on a company that you think will be best, consider getting quotes from other insurers. You may be surprised to find a wide range of possible premiums and multiple quotes will allow you to compare rates and make the best decision.
• Choose a higher deductible: Your deductible is the amount you agree to pay toward the cost of a covered claim before your insurance kicks in. If you can afford to choose a higher deductible — $1,000 rather than $500, for example — you will pay a lower premium. However, you should be prepared to pay this higher amount out of pocket in the event of a claim.
• Bundle policies: Most insurers will offer fairly significant savings if you purchase more than one policy from them. In most cases, this would mean car plus home, but your insurance company may offer other bundling opportunities as well.
• Keep your roof in good repair: Roof damage can be the cause of high-cost claims, which is why your insurer is likely to ask the age of your roof when you request a quote. A newer, well-maintained roof may earn you some savings on your policy.

Best home insurance discounts in Missouri

In addition to our suggestions above, you may save significantly if you make use of home insurance discounts. Most Missouri homeowners insurance companies offer at least a few discounts; some of them are quite easy to qualify for. Here are some common savings opportunities you may see:

How to save on home insurance policy renewals in Missouri

Receiving your home insurance renewal letter and seeing a higher premium can be an unwelcome surprise. Fortunately, there are a few strategies that might help you save money at renewal:

• Consider your coverage selections: Reviewing your coverage selections may help you identify coverage gaps, but it could also help you see if you may be overinsured. For example, if you have home sharing insurance, but you no longer rent out your home, you may be able to eliminate the coverage and save on your premium.
• Look for new discounts: It can be a good idea to review your insurer's discounts each year to see if you qualify for additional savings opportunities. If you recently installed a security system or upgraded your roof, you may be eligible for savings.
• Compare quotes from other carriers: Even if you are happy with your insurer, there is no harm in comparing quotes from other carriers to see if another company might offer you a better deal on your selected coverage.

How much is home insurance in Missouri?

Bankrate’s research on the cost of Missouri home insurance for $300,000 in dwelling coverage indicates that the state’s residents pay an average of $2,099 per year, which is higher than the national average cost of $2,151 per year. Extreme weather plays a big part in why rates are higher than average — tornadoes and severe convective storms can cause serious damage to your property. The EF-5 tornado in 2011 in Joplin was one of the deadliest and largest property loss events from a tornado in U.S. history, according to the Insurance Information Institute (Triple-I). In addition, Missouri has one of the highest crime rates in the country, increasing the odds of burglary or theft.

Although Missouri home insurance rates are high, residents in neighboring states have higher premiums due to the even greater frequency of severe convective storms and tornadoes, including Arkansas, where the average is $3,019 for $300,000 in dwelling coverage, and Oklahoma, where residents pay an average of $4,675, the most expensive average rates in the nation.

Missouri homeowners insurance rates by city

Even within a single state, your home insurance rate will vary depending on where you live. In a large state such as Missouri, local weather patterns, crime rates, home values and rebuilding costs can all influence premiums.

*Rates are for $300,000 in dwelling coverage.

What does home insurance cover in Missouri?

Standard HO-3 policies cover your dwelling and other structures on an open perils-basis, but cover your personal property on a named perils-basis. Some perils that are not excluded from standard HO-3 coverage include:

• Fire and smoke damage: House fires, smoke damage and wildfire destruction are covered by most standard home insurance policies.
• Snow, ice or sleet: Winter in Missouri can be unpredictable, and the state does experience severe weather. Standard policies cover damage that snow or ice does to your roof during a winter event. Keep in mind that flooding caused by snowmelt usually isn’t covered under a standard policy.
• Wind: Tornadoes and hail storms commonly occur in Missouri. These perils are typically covered by standard home policies.
• Theft and vandalism: Home insurance policies cover damage or loss resulting from theft and vandalism.

Additional home insurance coverage types in Missouri

The most common types of homeowners insurance coverage in Missouri typically include dwelling coverage, personal property, loss-of-use coverage, personal liability and medical payments. However, there are some common sources of damage that are not covered by standard home insurance policies or standard policies do not include enough coverage to pay for the damage. Some endorsements you might consider to build a more robust policy include:

• Flood insurance: Flooding is not covered by standard homeowners insurance in Missouri or anywhere else. Given the state’s propensity for catastrophic flooding, you may want to seriously consider it, regardless of whether you live in a flood zone, as water damage can be financially devastating. Policies may be available from the National Flood Insurance Program (NFIP) and private insurers.
• Replacement cost coverage: Many HO-3 policies cover personal property on an actual cash value basis. This means that if your personal property is damaged by a covered claim, you will receive the replacement value of the items minus depreciation. Adding a replacement cost endorsement may ensure you have enough funds to replace damaged items without paying out of pocket for new versions, although some carriers include replacement cost in a standard policy.
• Identity theft coverage: Much of our personal information is now stored online, meaning you might be susceptible to identity theft. This endorsement is available from a few different carriers and could help pay for identity restoration services after a breach.
• Earthquake insurance: Missouri is located on the New Madrid fault line and does experience earthquakes. Earthquakes are not covered by standard home insurance policies, but many carriers offer endorsements for coverage.

Common Missouri home insurance problems

Being aware of common Missouri perils may help you identify gaps in your home coverage. Below are some common causes of loss in the state as well as some industry challenges Missouri insurers are facing:

• Tornadoes: Although Missouri is not one of the top ten states for tornadoes, it is considered part of Tornado Alley and sees its fair share of twisters. In 2022, there were 11, and the state's annual average is 32. Five of the 25 deadliest tornadoes in U.S. history occurred in Missouri, resulting in significant damage and loss of life.
• Flooding: Flooding is the deadliest severe weather hazard in the state, according to the Missouri Department of Public Safety. Even a small stream or ditch can be the cause of damage after severe rainstorms, and homes that are not in designated flood zones can still be at risk. Unfortunately, standard policies do not cover flooding, but many insurers offer private flood insurance or NFIP coverage as standalone policies.
• Limited insurer availability: In some at-risk parts of the country, insurers have become reluctant to write new policies for homeowners, especially if they live in areas with volatile weather and high claim frequency or severity. This is compounded by supply chain issues and rising inflation, which lead to more expensive claims. You may find a limited number of insurers available to you for coverage when you shop for Missouri homeowners insurance.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze April 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

• Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
• Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
• Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
• Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
• Coverage E, Liability: $500,000
• Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply. 

These are sample rates and should be used for comparative purposes only. Your quotes will differ.