Freedom Insurance Group works with Memphis, MO by providing side-by-side homeowners quotes from 25+ companies.
What makes Memphis, MO stand out
Memphis has roughly 1,829 residents and sits in Scotland County.
For a smaller Missouri place like Memphis, insurance comes down to local construction, access to fire protection, and regional storm patterns.
Most homes are single-family houses typical of the Scotland County area; rebuild cost, roof age, and construction still drive most premium differences block by block.
Missouri homeowners should budget for tornado and severe-thunderstorm exposure, plus occasional flooding near rivers and creeks.
Homeowners pricing in Memphis, MO
The typical homeowners insurance premium in Memphis, MO is about $1,872 annually for a typical local home (typical local home value about $230,000). For a $300,000 dwelling, expect around $2,201 per year; for a $600,000 home about $3,097; and for a $1,000,000 dwelling about $4,030. Freedom Insurance Group rates are often about 37% lower — near $1,179 per year for a typical home, roughly $1,387 for a $300,000 home, about $1,951 for a $600,000 home, and around $2,539 for a $1,000,000 home.
| Dwelling Coverage Limits | Average Annual Premium (incl. Tornado & Hail Coverage) |
|---|---|
| $100,000 – $200,000 | $1,711 |
| $200,000 – $300,000 | $1,913 |
| $300,000 – $400,000 | $2,348 |
| $400,000 – $500,000 | $2,658 |
| $500,000 – $600,000 | $2,959 |
| $600,000 – $700,000 | $3,195 |
| $700,000 – $800,000 | $3,390 |
| $800,000 – $900,000 | $3,646 |
| $900,000 – $1,000,000 | $3,901 |
Band premiums are midpoints on the Memphis dwelling curve (typical local home value about $230,000). Illustrated estimates, not a quote.
Figures are 2026 market-style estimates for Memphis, MO, using a typical local home value of about $230,000. Freedom figures apply an approximate 37% savings vs the local typical premium for illustration. Your quote depends on dwelling limit, roof, deductible, claims, and carrier. Not a guarantee.
What a standard home policy includes
- Dwelling (Coverage A): This limit pays to rebuild your home’s structure after a covered loss, and it should match local rebuilding costs today.
- Other structures (B): This part protects detached features such as a garage, shed, fence, or similar buildings that stand separate from the main house.
- Personal property (C): This coverage protects furniture, clothing, and everyday belongings inside the home, with special limits that apply to some higher-value categories.
- Loss of use (D): Extra living expenses while the home is being repaired after a covered claim forces you out.
- Personal liability (E): It pays when the law holds you responsible for injuries to others or damage to their property from a covered incident.
- Coverage F, medical payments: For guests injured on your property, it helps with their medical bills, often without a formal liability claim.
Discounts for Memphis, MO homeowners
| Discount | What it means | Typical amount |
|---|---|---|
| New Home | New construction recently purchased | up to 40% |
| Age of home (5 yrs) | Newer homes | up to 26% |
| Bundle | Home and auto together | up to 25% |
| Upgrades | Electrical, plumbing, heating, roof updates | up to 20% |
| Hail-resistant roof | Class 1–4 impact roof | up to 12% |
| Claims-free | Multi-year claims-free history | up to 5% |
| Security / alarms | Monitored fire or burglar alarm | up to 4% |
| Paid in full | Pay annual premium upfront | up to 7% |
Discount availability and amounts differ from carrier to carrier. Read “up to” as the ceiling, not what everyone gets.
Why Memphis home insurance prices vary
Multiple interlocking factors shape what Memphis homeowners pay, and underwriters look at all of them before quoting. Most of the price comes from rebuild cost, the roof’s age and material, and exposure to storms or wildfire; deductible choice and claims history can move the final premium as much as the company you choose.
Replacement cost is the cost to rebuild the home with comparable materials at today’s labor and supply prices. A bigger rebuild figure on a Memphis home, the price tends to climb, because the insurer’s exposure grows.
Construction type and roof details count as well: frame versus masonry walls, roofing material, and overall build quality all affect how a property performs in wind, hail, and fire that are common across Missouri.
Homes in Memphis with close rebuild estimates may still get different quotes because of location risk: storm, hail, wildfire, and crime scores that vary by ZIP code and neighborhood.
Fire protection considers hydrant and fire-station distance plus the local protection class, and stronger protection profiles often support sharper pricing.
A recent claim on the property or by the household may lift the price on Memphis renewals and new quotes alike, since claims history is a big rating factor.
Many insurers factor in a credit-based insurance score where permitted; the stronger the score, the lower the premium tends to be.
Home-and-auto bundles in Memphis, MO
Average bundle savings, illustrated, not a quote. Actual savings vary with carriers and drivers.
| Place | 1-car bundle | 2-car bundle | 3-car bundle |
|---|---|---|---|
| Memphis, Missouri | $160 | $240 | $340 |
Local housing and storm data: Memphis
The Census Bureau’s 2020–2024 American Community Survey counts about 888 housing units in Memphis, and homeowners occupy close to 72% of the occupied homes. Of all units, 75% are detached single-family houses and 22% are in buildings with two or more units.
On tornadoes, NOAA logged 2 tornadoes touching down within 10 miles of Memphis between 2016 and 2025, the strongest rated EF0 during June 2018.
NOAA’s Storm Events Database lists 10 hail reports within about 5 miles of Memphis from 2016 through 2025; 6 were one inch or bigger. The biggest was 2 inches in September 2022 near Memphis.
Since 2000, Scotland County has been part of 12 major disaster declarations; the latest is Severe Storms, Straight-Line Winds, Tornadoes, and Flooding (September 2023).
Home heating in Memphis runs mainly on utility gas (64%), electricity (21%), and propane or other bottled gas (14%). Propane tanks and wood stoves should be disclosed when you apply, because carriers treat them differently.
Memphis’ median year built is 1969. About 71% of homes were built before 1980, so system and roof updates often come up in underwriting.
Memphis dates its official start to 1843. The Census Bureau counted 2,061 people in Memphis at the 2000 Census and 1,822 at the 2010 Census; its July 2024 estimate is 1,727. The town has about 16% fewer people than in 2000.
Older NOAA hail logs add more history: the Storm Prediction Center lists 36 hail reports within 5 miles of Memphis between 1955 and 2015, topped by hail of 2.75 inches on September 10, 1984. Reports of 2-inch or bigger hail number 1 in that span. Federal tornado records from NOAA’s Storm Prediction Center list 7 tornadoes that began within 10 miles of Memphis from 1950 through 2015; the most powerful, rated F3, touched down on April 20, 1973.
Comparing homes in nearby towns? We also have home insurance pages for Kahoka (24 mi) and Kirksville (28 mi).
ZIP codes we cover in and around Memphis
63555 · 63442
