Average Cost of Homeowners Insurance in Missouri (2024)

The average cost of homeowners insurance in Missouri in 2024 is $2,835. This is $412 more than the national average of $2,423.

Aside from the amount of coverage you get, credit rating plays a big role in premium costs in Missouri. The premium difference between the best and worst credit ratings is about $3,483.

If your rates have recently gone up, our analysis of the cheapest policies in Missouri could help you find more affordable options. Remember, the insurance provider you choose can also affect your premiums.

In Missouri, the average homeowners insurance premium is $2,835 for standard coverage amounts. This rate is more than the national average home insurance rate of $2,423.

When considering how much coverage you need, remember that your insurance should be enough to rebuild your home and cover your belongings in case of a total loss. For example, a policy with $100K in dwelling coverage has an annual premium of $1,592. If you own a larger home, requiring $500K in dwelling coverage, the annual cost jumps to $5,019.

Premiums for homeowners insurance in Missouri can vary significantly among providers, even for comparable coverage. While some insurers offer rates well below the state average, others may charge premiums that are considerably higher.

Missouri residents have access to a variety of great providers, each with unique underwriting standards. These differences can influence the pricing of your policy.

Homeowners in Missouri with excellent credit pay an annual premium of $2,355 for homeowners insurance, which is $480 less than the state average. On the other hand, those with poor credit face rates as high as $5,838, a striking $3,003 above the average. Credit scores directly correlate with insurance costs, and a low credit score can lead to substantially higher premiums.

While you may not be able to improve your credit score immediately, you can gradually enhance it to reduce your insurance rates. In the short term, comparing insurers can be a savvy move to manage costs. It takes less than 15 minutes to see which will save you the most, and you might find a better rate even with your current credit standing.

The type of roof on your home can influence your homeowners insurance premium in Missouri. For example, homes with tile roofs, which are generally more resilient, may see lower insurance costs. On the contrary, less durable materials like composition shingles could result in higher premiums.

Similarly, the construction materials of your home play a role in determining insurance rates. Homes built with superior, more resistant materials may benefit from reduced insurance costs. In contrast, standard frame construction, which is less resistant to certain perils, such as severe weather events, might lead to higher insurance premiums.

Use the table below to see how premiums change based on your home's materials.

Insuring a newly constructed home in Missouri typically costs less than an existing one due to modern materials and adherence to current building codes. The average annual premium for a new home is $1,473, which is $1,362 lower than the $2,835 average for older homes. The table below shows how premiums vary for different coverage levels in new versus existing homes.

In Missouri, homeowners who have maintained a claim-free record for over five years can expect an average annual premium of $2,835 for their homeowners insurance. However, if there has been one claim filed within the past five years, the average premium rises to $3,532, showing an increase of $697 from the claim-free baseline. For those with two claims in the past five years, the average jumps to $4,168, which is $1,333 more than the average for homeowners without recent claims.

For the cities we analyzed, we found premiums ranging from $2,566 to $3,217. Columbia has the lowest premium at $2,566, while Kansas City is the highest at $3,217. Independence and St. Louis hover around the average with $3,110 and $2,828, respectively. Location impacts premiums due to varying risks like weather and crime. City-based rates are influenced by local factors, but personal factors like credit score also play a role.

Getting a great deal on homeowners insurance in Missouri is within reach. By exploring your options and knowing what affects your premiums, you can find insurance that fits your budget. Remember, the best deal for you is out there. Here's how to find it.

Homeowners in Missouri looking to trim their insurance costs can consider bundling their home and auto policies. On average, Missourians may save up to 16% when they opt for a multipolicy bundle. The savings on the combined cost of auto and home insurance can range from no discount up to $1,595 annually.

For a detailed analysis of the best and cheapest home and auto bundle companies in Missouri, explore MoneyGeek's Best and Cheapest Home and Auto Bundle Companies in Missouri study. This strategy not only simplifies your insurance management but can also lead to substantial savings.

Missouri homeowners can benefit from various insurance discounts. To maximize savings, inquire about discounts when requesting a quote.

• Loyalty Discount: Insurers may offer price reductions for long-term customers.
• Protective Devices: Installing security systems or smoke detectors could lower premiums.
• Roof Upgrade: A fortified roof may lead to discounted rates.

For a comprehensive understanding of how to save with discounts, explore our guide on discounts.

For those seeking to navigate the nuances of homeowners insurance in Missouri, a wealth of resources is available. Whether you're a new homeowner, considering purchasing a home or simply looking to better understand your current policy, these tools can provide valuable guidance.

• Missouri Department of Insurance: Official state resource for insurance regulations.
• Affordable Home Insurance in Missouri: Find cost-effective options for your home.
• Missouri Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in Missouri: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.