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 $2,117, or about $176 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 2024 J.D. Power U.S. Home Insurance Study and financial strength ratings from AM Best to assign each carrier a Bankrate Score out of a possible 5.0 points. 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:

• Shop around: One good strategy for saving money is to gather quotes from a range of insurers, rather than settling on the first company you look at. You are likely to find that insurers give you different rates, since each uses its own proprietary algorithms to determine cost. Once you have a handful of quotes, you can choose the one that works best for your wallet.
• 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 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.
• Repair or replace your roof: Homeowners know that roof repairs can be expensive, which is why insurers will often ask the age of your roof when you request a quote. An ancient or damaged roof may lead to expensive claims, so they are likely to charge more for your policy. A newer roof that is kept in good repair may mean you'll pay less for 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.
• Review your discounts: As your circumstances change, there may be discounts that become available to you. For example, if you install a new roof or add deadbolt locks to your doors, you might earn a reduced rate for your policy.
• 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 $2,117 per year, which is higher than the national average cost of $2,304 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 $2,972 for $300,000 in dwelling coverage, and Oklahoma, where residents pay an average of $5,049, 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 10 states for tornadoes, it is considered part of Tornado Alley and sees its fair share of twisters. In 2023, there were 23 and the state's annual average is 32. However, the state has already experienced 109 tornadoes in 2024, making it one of the most active years on record. 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. You may find a limited number of insurers available to you for coverage when you shop for Missouri homeowners insurance.

Frequently asked questions

Additional profiles:

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

Bankrate Scores 

Our Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.