Best homeowners insurance in Missouri of 2023

Compare the best homeowners insurance companies in Missouri

Based on data sourced from Quadrant Information services, the average rate for $250k in dwelling coverage in Missouri is $1,769, or about $147 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 coverages they offer. We also looked at digital tools, third-party scores from J.D. Power and others and more to assign a Bankrate Score out of a possible 5.0 points to help you easily compare providers. Based on our extensive research, our choices for the best homeowners insurance in Missouri are USAA, Allstate, Travelers, State Farm and American Family.

*USAA not officially ranked by J.D. Power due to eligibility restrictions.

The top five home insurance companies in Missouri

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 discount, as well as how third-party organizations, including 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 out of 5.0. By using our Bankrate Score as a starting place in your search, you can get a quick sense of the big picture surrounding home insurance companies in your area before requesting quotes.

How much is home insurance in Missouri?

Bankrate’s research on the cost of Missouri home insurance for $250,000 in dwelling coverage indicates that the state’s residents pay an average of $1,769 per year, which is higher than the national average cost of $1,428 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 $2,123 for $250,000 in dwelling coverage, and Oklahoma, where residents pay an average of $3,659, the most expensive average rates in the nation.

Average annual premium by dwelling coverage level in Missouri

*Rates are for $250,000 in dwelling coverage.

How to find the best cheap home insurance in Missouri

It's understandable if you are looking for the most affordable Missouri homeowners insurance companies. No one wants to pay more than they have to for their home insurance, of course. The good news is that there are strategies you can use that may help you lower the cost of your premium. Consider the following:

1. 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 and make the best decision.
2. 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 are likely to pay less for your policy. Just be sure you could afford to pay it in the event of a claim.
3. 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. 
4. 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.

Common home insurance discounts in Missouri

In addition to our suggestions above, you may save significantly if you make use of any home insurance discounts to which you are entitled. Most Missouri homeowners insurance companies offer at least a few discounts; some of them are quite easy to qualify for. Here are a few you might see listed on your insurer's website:

Home insurance coverage options 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. Many people find that these additional coverage types and endorsements offer better financial protection against the perils Missouri homeowners face, so you may want to consider adding one or more of these to your insurance portfolio.

• 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 are available both from the National Flood Insurance Program (NFIP) and private insurers. 
• Replacement cost coverage: Instead of receiving a depreciated reimbursement amount for items covered by your policy, you might want to upgrade to replacement cost coverage, which covers the full, current replacement cost for damaged or lost items after a covered loss.
• Disappearing deductible: If you do not foresee having claims in the future, you may want to opt for disappearing deductible insurance if your insurer offers it. It could reduce the cost of Missouri homeowners insurance deductibles every year without a claim.

Frequently asked questions