If you are looking to buy a new home you are probably wondering how much will my Mississippi home insurance be?
There is no 100% accurate answer to this question due to all the underwriting factors that go into Mississippi home insurance. What I can tell you is according to quote wizard, the average Mississippi home insurance premium in 2014 was $1447 annually.
Premiums for Mississippi vary greatly due to underwriting criteria. Here are some of those items.
Where is the location of the home? The further the home gets away from the first responding fire department, the higher the insurance risk rate will be.
What is the replacement cost of the home? First of all, make sure you have a full replacement cost policy on your home so depreciation will not be taken out of your rebuild value. The higher this rating is, the more expensive the insurance rate will be.
The claim history of the home and the buyer? High claim activity on the home and the individuals will rate the premium higher.
The condition of the home? It is usually a practice for insurance carriers to either require updated photos of the home, send out an inspector, or possibly both. The age of the roof, the appearance of the exterior, as well as other factors will go into rating the home.
Is the home buyers credit rating good or bad? Insureds with good credit rating will usually have better insurance premiums.
Insurance ratings and insurance rating criteria differ from carrier to carrier. This is why it is important to contact an independent insurance agency when looking for your home insurance. Independent insurance agencies can shop your Mississippi home insurance rate with numerous different carriers to ensure you are getting the best price at the best coverage.
How to Start Your Quote
Every person is unique and therefore requires a carefully crafted policy. Good news, our Agency offers custom tailored insurance proposals to ensure you get covered properly but don’t pay more than you have to.
If you’d like us to review your current policy and provide you with no obligation quotes, call our office, or see our Quotes page to get the process started. Either way, we make the process super simple!
We serve the North Mississippi area, including towns like Olive Branch and Southaven, including Desoto County, Tate County, and Lafayette County.
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