The Best Cheap Missouri Homeowners Insurance for 2024

Shopping for homeowners insurance is more important than the average first-time homeowner may imagine. Homeowners coverage is what stands between a homeowner and potential financial hardship if their house is damaged or destroyed. Here, we take a look at the best homeowners insurance in Missouri, show you where to buy the least expensive policies, and outline key factors to search for when shopping for a Missouri home insurance policy.

• Cheapest overall for Missouri: Auto Club
• Cheapest for new home construction: Nationwide
• Cheapest for older homes: Auto Club
• Cheapest for those who have filed a claim: Armed Forces Insurance Exchange

Cheapest overall for Missouri

These four companies offer cheap homeowners insurance in Missouri:

• Auto Club, with an average annual rate of $1,615
• Armed Forces Insurance Exchange, coming in with an average rate of $1,701
• USAA, with an average annual rate of $1,810
• Nationwide, offering a rate of $2,118

Cheapest for new home construction

Moving into a brand-new home is exciting. One added bonus is that insurance premiums are typically lower in a newly built home. That's because insurers give the homeowner credit for the fact that all the components in the house are new and unlikely to fail any time soon. Nationwide offers the cheapest homeowners insurance in Missouri for new construction homes at an average annual rate of $617.

These three companies are runners up for the cheapest Missouri home insurance providers for new construction:

• USAA, with an average annual rate of $789
• Auto Club, with an average annual rate of $869
• State Farm, coming in with an average annual rate of $1,275

Cheapest for older homes

Older Missouri homes may be full of character and unique architectural touches, but they are also likely to have age-related problems. Old homes may suffer from issues like mold, leaky basements, dry rot, and damaged roofs. Yet these four companies have found a way to insure old Missouri homes at reasonable rates:

• Auto Club, with an average annual rate of $1,324
• Armed Forces Insurance, offering an average annual rate of $1,607
• USAA, with an average annual rate of $1,801
• State Farm, offering an average annual rate of $2,125

Cheapest when you've made a claim

After a storm or fire, it can be financially devastating to be without insurance. Still, it's frustrating to learn that the cost of Missouri home insurance will increase following a claim -- if only for a time. These four insurance companies offer the lowest rates in the state for homeowners who have previously filed a claim:

• Armed Forces Insurance, offering a forgiving rate of $1,607
• Auto Club, coming in with an average annual rate of $1,693
• USAA, offering an average annual rate of $1,941
• Nationwide, with an average annual rate of $2,305

Average home insurance cost in Missouri compared to the national average

The average cost of homeowners insurance in Missouri is $2,542, which is quite a bit higher than the national average of $1,725.

Missouri homeowners insurance overview

While price is an import consideration, there are other factors to consider when shopping for homeowners insurance in the state. Here are a few.

Types of homeowners coverage

There are six types of policies designed to cover traditional (non-mobile) homes. These six policies range from basic coverage to comprehensive coverage. The best homeowners insurance companies offer a variety of coverage levels. The first thing a homeowner should do is determine how much coverage they require and compare policies offering that level of protection.

Level of coverage

A bare-bones insurance policy may be less expensive, but it may not always provide the coverage needed if a home is damaged or destroyed. Shopping for a low price is great, but only when it includes searching for the proper level of coverage, enough to meet the homeowner's financial needs in the event of peril.

Amount of deductible

A deductible is the amount of money a homeowner must pay toward a claim. Let's say a pipe breaks and floods a room. The total cost of the repair is $7,500 with a $1,000 deductible. The homeowner pays a contractor $1,000, and the insurance company covers the remaining $6,500.

Potential discounts

One way to find cheap homeowners insurance in Missouri is to take advantage of policy discounts. Before deciding which insurance company provides the best fit, find out how much each policy will cost after all discounts have been factored in. It would be unusual to find an insurance company that does not offer home insurance discounts. Homeowners can get discounts for things like installing an alarm system or having smoke detectors.

What are the most common homeowners insurance claims in Missouri?

The fact that Missouri has four distinct seasons means that it has it all -- wind, rain, snow, ice, flooding, tornadoes, and the occasional earthquake. Here are some of the most common claims of this heartland state.

Water damage and freezing

Missouri winters can be harsh, leading to issues like ice dams, weighted-down roofs, and roof damage. Spring rains sometimes lead to issues like mold, dry rot, and flooding. Water claims can also be caused by burst water pipes and leaky appliances.

Fire and lightning

According to the Insurance Information Institute, fire and lightning damage accounted for about 25% of all homeowners insurance claims in the nation in 2019. Due to the number of thunderstorms experienced in Missouri, it's no surprise that fire and lightning are among the most common insurance claims in the state.

Wind damage

Wind damage is another frequent cause of Missouri claims. Wind can strip siding and damage roofs. It can also knock down power lines and pull trees out from the roots.

Theft and vandalism

While some areas of Missouri are safer than others, there's no corner of the state that is 100% crime free. Whether a homeowner experiences a break-in or broken windows, theft and vandalism are two common reasons for claims.

Homeowners insurance coverage options and discounts in Missouri

The ideal policy is a combination of comprehensive coverage and low price.

Coverage options

Homeowners with a non-mobile home have their choices of six categories of coverage, referred to as HO-1 through HO-8:

• One type covers renters.
• Another type covers mobile homes.
• The six remaining policy types cover traditional brick-and-mortar homes and range from basic to comprehensive coverage.

Discount options

Finding cheap homeowners insurance in Missouri depends, in part, on taking advantage of as many discounts as possible. While each insurance company offers its own set of discount options, here are some of the most common:

• Nonsmoking
• Construction type (specific types score a discount)
• Upfront payment of premium
• Policy bundling
• Home security system
• Smoke detectors
• Deadbolts
• New home
• Upgraded roof

To offer an idea of how much discounts impact premiums, here are some averages for Missouri:

• Installing a smoke alarm can save a homeowner more than 7%.
• Having an upgraded roof installed can save more than 19%.
• Upgrading the electrical system can save nearly 16%.
• Bundling home and auto insurance can save a whopping 25%

5 cheapest cities in Missouri for homeowners insurance

Each insurance company has its own way of coming up with premiums for Missouri home insurance. Typically, these companies consider factors like crime rate, how near (or far) a house is from a fire station, and the value of homes in the area. Here are the five Missouri cities with the lowest homeowners insurance rates:

5 most expensive cities in Missouri for homeowners insurance

Here are the five most expensive cities in the state for homeowners insurance:

Landing the best homeowners insurance in Missouri is the first step. It makes financial sense for homeowners to revisit coverage at least once a year, just to make sure they still have the proper level of coverage.