(800) 253-1482Homeowners Insurance in Missouri
Summary: Homeowners insurance helps Missouri residents protect against a number of perils. You can save on the average cost of coverage by comparing carriers and capitalizing on discounts. There are many coverages that make up home insurance, each protecting you in a unique way. Compare your options from top-rated carriers, get quotes, and save more money while staying protected. Estimated Read Time: 5 mins
Homeowners insurance in Missouri is critical for protecting your property. All year round, the Show-Me State deals with severe thunderstorms, hail, tornadoes, flooding, vandalism, and more.
Having the right home insurance policy can help you mitigate the cost of restoring your property in the aftermath of unfortunate perils.
By shopping and comparing coverage options in your area, homeowners can find affordable, personalized coverage that protects their homes for less.
Homeowners Insurance Coverages Available in Missouri
Protecting your home comes in many forms. Check out this breakdown of the many coverages that make up a standard home insurance policy (HO3) for Missouri residents:
Dwelling Coverage
It’s the largest component of your homeowners insurance. Dwelling coverage protects your home’s structure and attached structures from perils.
Missouri is prone to tornadoes, hail, severe thunderstorms, snowstorms, and more. Dwelling coverage keeps you protected.
Other Structures Coverage
Protection for the other structures on your property. Detached garages, sheds, fences, etc. are all protected just like the dwelling of your home through others structures coverage.
Personal Property Coverage
Your personal belongings deserve protection too. Everything from your electronics to your furniture and more is covered with personal property coverage.
With that said, keep in mind more expensive items or collections may exceed policy limits and require additional protection. You can also increase your homeowners insurance policy limits as well.
Loss of Use Coverage
Also known as additional living expenses protection, if you suffer a peril that makes your home uninhabitable, your loss of use coverage will cover lodging, dining, and related expenses while you are displaced.
Personal Liability Coverage
If someone is injured while on your property, your home insurance will provide coverage to protect you from personal liability. Homeowners can cover medical and legal expenses with personal liability coverage.
Medical Payments to Others Coverage
For some injuries to visitors, you may need more protection. Fortunately, medical payments to others (Coverage F), may be available, depending on your carrier, to cover serious medical bills.
Additional Optional Coverages
Having home insurance is important but your policy won’t cover everything. There are additional ways to add protection for the many things that life may throw your way:
- Missouri Flood Insurance: You are covered from many weather-related perils with home insurance but not floods. Homeowners have the option to enroll in the National Flood Insurance Program (NFIP) or by comparing carriers offering coverage.
- Home Insurance Riders/Endorsements: Adding an endorsement is a great way to expand your coverage and protect more of what you have. For example, your homeowners policy will cover personal property but the right rider will cover highly valuable items that may exceed policy limits.
- Service Line Coverage: If a utility line breaks that’s connected to your home, you can avoid the cost of repairs in the aftermath of a wreck or a storm.
There are many other coverages available. Missouri home insurance is customizable and affordable by comparing your needs and the carriers in your area.
How Much Is Homeowners Insurance in Missouri?
The average cost of homeowners insurance in Missouri typically ranges between $2,100 and $3,600 per year. This range is higher than the national average.
Due to ongoing risks involving crime in metro areas, windstorms, hail, and snowstorms, the homeowners insurance rates Missouri residents face remain elevated.
Several factors go into determining the cost of your home insurance, and homeowners also have options available to help them save.
Things such as your home’s age, location, claims history, and the carrier you choose are going to affect your rates.
The more risk you harbor as a client, the higher rates you’ll pay and vice versa. Always compare your coverage among multiple carriers to find the lowest premium without compromising your protection.
Discounts To Save on Coverage
Saving on homeowners insurance is simple and there are many options available.
The best way to save money is to compare carriers and find the lowest premiums for the coverage you need.
However, you can enjoy additional savings through these great discount methods:
Bundle Home and Auto
One of the best ways to save on premiums is to bundle your home and auto insurance policies.
Car insurance is mandatory in Missouri, so bundling them together is a great way to save on coverage you need while staying protected for less.
New Home Discounts
Newer homes come with fewer risks of breaking or succumbing to weather damage. If you have a new construction, let your agent know, and you may receive lower premiums as a result.
Raising Your Deductible
In the insurance world, the general rule of thumb is if you have a higher deductible, you’ll have lower premiums. Missouri residents can save by raising their policy’s deductibles.
Is Homeowners Insurance Required in Missouri?
While you aren’t required by law to maintain homeowners insurance in Missouri, taking on the risk of paying for a major or total loss is far too significant.
Furthermore, even if the law doesn’t require it, most lenders are going to require you to maintain home insurance throughout the duration of your loan.
Even if you pay off your mortgage, covering the cost of major damage is often too much for many homeowners to bear.
It’s recommended to compare and find affordable coverage to prepare for the worst while hoping for the best.
Does Vexatious Refusal Apply to Homeowners Insurance in Missouri?
The Missouri vexatious refusal to pay statute helps policyholders when their insurance company unreasonably denies a claim or doesn't pay the full amount. This law covers home insurance.
Policyholders cannot sue for bad faith under common law. Instead, the vexatious refusal statute lets them hold insurance companies accountable for not paying what they owe.
Home Insurance Quotes in Missouri
Looking for coverage? Get free, no-obligation home insurance quotes for Missouri homes with coverage backed by top-rated carriers. Save more today with Freedom Insurance Group.
Homeowners Insurance Quotes in Texas
Getting a homeowners insurance quote is a fast, easy way to check premiums in your area. Since 2005, Freedom Insurance Group has been making it easy for homeowners in Texas to save on coverage and protect their homes from potential perils.
Our team is available to help you find the coverage you need at the lowest price available. On average, people who switch save 40% on their premiums each year. Get a free homeowners insurance quote and see how much we can help you save today!
