Best home insurance companies in Missouri
There are numerous national and regional insurance companies that offer coverage in the state. We selected the best Missouri homeowners insurance companies based on customer satisfaction and market share in the state, as well as third-party financial strength ratings.
|Home insurance company||Average annual premium for $250k dwelling||J.D. Power score|
USAA consistently ranks among the best homeowners insurance companies in the nation. The company’s claims satisfaction and overall customer satisfaction is higher than any other company.
Standard homeowners insurance covers most weather-related events common to Missouri, although it’s important to note that flood insurance must be purchased separately. If the policy-holder makes no claims in five years, it’s possible to earn up to 10% off policy premiums. The biggest downside is that USAA’s coverages are only available to military members and their families.
Learn more: USAA insurance review
Allstate is one of the top insurance providers for home insurance. It receives above-average scores for customer satisfaction, with 829 out of 1000 points in the 2021 J.D. Power customer satisfaction study.
If you are a first-time home buyer or looking to switch home insurance policies in Missouri, Allstate might be an attractive choice due to the benefits you could receive. For first-time homebuyers, Allstate offers the standard coverage options, as well as educational resources on home insurance for first-time homeowners and a first-time home buyers discount. For homeowners looking to switch policies, Allstate offers an early signing discount and a welcome discount, saving you extra on your home insurance.
Learn more: Allstate Insurance review
On average, Missouri homeowners pay more for AmFam home insurance, with the average annual premium being $1,894. However, the insurance company received above-average ratings for customer satisfaction. Missouri homeowners who sign up with AmFam home coverage receive coverage on fire, falling objects, hail, lightning, smoke, water damage and wind storms or tornadoes, to name a few.
AmFam also offers all of the standard coverage options and more like flooding, sump pump failure and water backup, which are all coverage options that Missouri homeowners may want to consider due to the environmental climate of the state.
Learn more: American Family Insurance review
State Farm is the number one provider of homeowners insurance in Missouri in terms of market share, covering 25% of Missouri homeowners. It offers a substantial variety of options to add to your basic policy, including additional coverage for earthquakes and coverage for the homeowner’s portion of a loss that affects all homeowner’s association members.
State Farm is regarded as one of the best in overall customer satisfaction, although they rank slightly below average in claims satisfaction. The company offers agents in most major towns and cities in Missouri and user-friendly digital tools to make it easy to get a quote quickly.
Learn more: State Farm Insurance review
How much is homeowners insurance in Missouri?
As mentioned, Bankrate’s findings on the average cost of Missouri home insurance for $250,000 in dwelling coverage is $1,558 per year, which is higher than the national average cost of $1,312 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. 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 a couple of neighboring states have higher premiums due to the greater frequency of tornadoes and windstorms:
- Arkansas: $2,142
- Oklahoma: $3,519
Home insurance in Missouri
Missouri homeowners have special considerations they should take into account when shopping for coverage. Consider the following elements when putting a policy together.
Common causes of loss in Missouri
- Tornados: Missouri ranked fifth in the nation for the number of tornadoes in 2019, with five of the deadliest in history striking the state. The frequency of tornadoes in states like Missouri significantly impact homeowners insurance premiums.
- Severe storms and flooding: Missouri residents are subject to an increased chance of severe storms and flooding because of the state’s geography. High winds commonly lead to downed trees and powerlines, which can cause expensive damages if the branches or power lines fall on your home.
- Crime: Criminal activity typically represents a small portion of annual homeowners insurance losses, representing one percent of all claims nationwide in 2018, according to the Insurance Information Institute (Triple-I). USA Today indicates that Missouri’s crime rate is one of the highest in the country, which can translate to a higher risk of filing crime-related claims.
Home insurance coverage options in Missouri
The most common types of homeowners insurance coverages in Missouri are property damage, additional living expenses, personal liability, and medical payments. Consider adding the following additional coverages:
- Flood insurance: Flooding is not covered by a standard homeowners insurance in Missouri policy. However, you can purchase the extra coverage for added protection. It may be available as an endorsement to your home policy or purchased through the federally-backed National Flood Insurance Program or private flood insurers.
- Replacement cost coverage: Instead of receiving a deducted reimbursement amount for items covered by your policy, you can upgrade to replacement cost coverage. You will be able to purchase coverage that pays the full replacement cost of damaged or lost items.
- Disappearing deductible: If you do not foresee having claims in the future, you can 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
What is the cheapest homeowners insurance in Missouri?
Missouri residents pay about 19% more than the national average for homeowners insurance, so while there is less chance of finding a cheap policy, it may not be wise to reduce coverage. Instead, homeowners can decide how much coverage they need and then shop around to find an affordable rate from the best companies.
Do Missouri homeowners insurance policies cover flooding?
Standard homeowners insurance policies don’t cover flooding, even though it’s the most common and most expensive type of natural disaster in Missouri and across the U.S. Federal law requires homeowners to purchase flood insurance if they live in a high-risk area, but the entire state is at risk of flooding. Homeowners may want to consider purchasing this coverage from their home insurer as an endorsement, or from the federally-backed National Flood Insurance Program or through a private flood insurer.
How much homeowners insurance do I need?
Homeowners insurance is intended to help cover any financial losses in the event of a disaster. Ideally, a homeowner should purchase enough insurance to rebuild their home and replace all their belongings in case of total loss, not just enough to pay off your mortgage. Make sure you have enough dwelling coverage to rebuild your home in today’s marketplace, as supply chain disruption has generated significant increases in construction costs.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.