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The average cost of renters insurance in Biloxi, MS is $712 per year (for insurance coverage of $40,000 in personal property coverage, $100,000 in liability coverage, and $1000 as deductible) — that’s $318 more than the state average of $394 a year.
It can be higher or lower depending on the coverage options you choose and the amount of liability the policy provides. If you live in a rented apartment or home, you should consider buying renters insurance because it protects your personal belongings from damage caused due to covered peril such as fire or smoke damage, theft, vandalism, and other mishaps.
We did a thorough analysis of renters insurance companies to find the most affordable options for Biloxi renters. Keep reading to find out the cheapest renters insurance companies in Biloxi.
What is the average cost of renters insurance per month in Biloxi?
On average, the cost of renters insurance in Biloxi is $59 a month. Renters in Biloxi pay these rates for the coverage limit of $40,000 personal property coverage, $1,000 deductible and $100,000 liability protection coverage.
The renters insurance rates vary by city depending on your insurance provider and the coverage limits you decide. For example, renters in Biloxi pay $37 per month for personal property coverage of $20,000 and $1,000 deductible. However, if you decide to increase the personal property coverage limit to $40,000, you will pay $22 more than for renters insurance.
Now, you’ll have to decide how much coverage you need and how much you can afford. However, it is recommended, if your personal belongings consist of expensive jewelry, furniture, and electronics, you should choose higher coverage limits.
How much is average renters insurance in Biloxi by deductible?
The renters insurance cost in Biloxi is $487 per year for a $500 deductible and $20,000 as personal property coverage. A deductible is an amount you agree to pay before your insurance company kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same, i.e., $20,000, but you increase your deductible limit from $500 to $1,000, you will pay $45 less every year for insurance.
Below are the renters insurance rates for different personal property coverage and deductible amount.
Note: These rates are specifically for the coverage of $100,000 liability protection.
Read our guide to know what does renters insurance cover.
Who offers cheap renters insurance in Biloxi?
Your search for the cheapest renters insurance company ends here.
Nationwide offers the cheapest renters insurance in Biloxi at about $312 a year or $26 per month. According to Insure.com data analysis, Farmers ranks second on our list followed by Southern Farm Bureau.
Our experts at Insure.com evaluated renters insurance quotes from all the big and small insurance companies in Biloxi and put together a list of the most affordable insurance carriers. Below are the average annual and monthly rates of the cheap renters insurance companies across Biloxi, MS.
(Note: USAA offers insurance only to members of the military, veterans and their immediate families.)
Renters insurance provider
Average annual rate
Average monthly rate
Nationwide
$312
$26
Farmers
$488
$41
Southern Farm Bureau
$588
$49
State Farm
$698
$58
USAA
$747
$62
Allstate
$805
$67
Travelers
$1,375
$115
Methodology
Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Biloxi, MS, for $40,000 personal property coverage, $100,000 liability coverage, and a $1000 deductible.
How much is renters insurance in other cities
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Renters insurance in Mississippi can cost as little as $26 a month (or $317 per year) for around $35,0001 in coverage, more than the national average, according to 2021 data (the most recent available) from the National Association of Insurance Commissioners (NAIC).
Renters insurance in Mississippi can cost as little as $26 a month (or $317 per year) for around $35,0001 in coverage, more than the national average, according to 2021 data (the most recent available) from the National Association of Insurance Commissioners (NAIC).
Renters insurance is relatively inexpensive. According to NerdWallet, the average renters policy costs about $15 per month for up to $30,000 in personal property coverage.
Renters insurance coverage is almost always worth it. It is much more affordable than other policies, including home or auto insurance, and provides valuable financial protection. Even if you can save enough money to cover unexpected loss, renters insurance may be worthwhile.
Renters insurance deductibles often range between $250 and $2,500 on personal property claims. Liability coverage on your renters policy typically won't have a deductible. Explore Progressive's editorial standards for Answers articles to find out why you can trust the insurance information you find here.
Landlords should consider getting landlord insurance to take the risk out of their rental property investments! The cost of landlord insurance in Mississippi is about $783 per year, which is lower than the national average.
The average cost of renters insurance is about $15 to $20 per month1. However, what you end up paying depends on a number of factors. Take a look at the information below to find out how your home or apartment renters insurance cost is determined.
Renters insurance typically covers fire, windstorms, lightning, explosions, theft, and vandalism. Your personal property, personal liability, additional living expenses, and guest medical expenses are usually covered under your renters insurance.
If you live in a city with a high home break-in rate or frequent weather-related disasters, you may see higher renters insurance costs. Your coverage level: If you have a lot of belongings (or expensive belongings), or you want peace of mind in terms of personal liability, then you'll want to increase your coverage.
Shopping around for renters insurance annually can help you find the best rates, so consider looking for a new policy around your renewal date. Besides this “annual audit,” you should also shop around for renters insurance if you have a major life change — which, in the case of renters insurance, is usually a move.
Unlike some other states, California landlords are allowed to require tenants to obtain and maintain renters insurance while they are under the terms of the lease. This is done in part to protect landlords from lawsuits in the event that damage to the property causes it to become uninhabitable.
It might save money in the short term, but canceling your renters policy could cost you more in the long run. Without insurance coverage, you're putting yourself at high financial risk from property loss and personal liability.
Does each roommate need renters insurance? Many insurance companies will require roommates to have their own separate renters insurance policy rather than allowing roommates to be on a policy together. If your landlord doesn't mandate renters insurance, you and your roommates aren't required to carry a policy.
Unlike actual cash value coverage, replacement cost value does not take depreciation or wear and tear into consideration. Instead, it reimburses you based on how much it would cost to replace, repair, or rebuild your property at today's prices. As with ACV, your policy's coverage limits and deductibles will apply.
Yes.Renters insurance covers damage to your property from your toilet flooding, as long as it was an accident and not "negligence." Negligence is an action that would be considered by a normal person to be unreasonable or reckless, such as flushing your toilet over and over after it clogs.
Renters insurance is only tax-deductible when it covers a location in which you are operating a business. More specifically, you can only deduct the percentage of your home allocated to business from your taxes. A home office must conform to IRS guidelines to be eligible for a tax deduction.
How much is homeowners insurance in Mississippi? The average cost of homeowners insurance in Mississippi is $2,624 per year or $219 per month — this is 50% more expensive than the national average of $1,754 per year.
The cost of renters insurance can vary based on location, as some states have more expensive areas due to different risks. The average cost of renters insurance in Memphis is $243 per year or $20 per month.
The Best and Cheapest Renters Insurance Companies in Alabama for 2024: Rankings, Reviews and Rates. State Farm offers the cheapest renters insurance in Alabama at $11 per month. With a perfect MoneyGeek score of 100, USAA is the best provider. Shopping around can save you up to $185 annually on your premiums.
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