Average renters insurance cost in Hattiesburg, MS (2024)

FAQs

Average renters insurance cost in Hattiesburg, MS? ›

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. That's solid coverage for less than the cost of a few cups of coffee a week.

Insurers look closely at the property crime rate in your area, which affects your likelihood of filing a claim for stolen property. Your risk of natural disasters, such as tornadoes or hurricanes, also affects your cost of coverage.

This'll typically range from $250 to $2,500 for renters insurance, and $1000 to $2,500 for homeowners. The deductible is how much you'd have to pay out-of-pocket on every covered claim.

How much is renters insurance in California? The average cost of renters insurance in California is $182 a year, or approximately $15 a month.

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.

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.

What is replacement cost in renters insurance? ›

What is Personal Property Replacement Cost Coverage for Renters? This optional coverage can be applied to your Renters Insurance policy and covers the total cost to repair — or replace — most damaged items with their brand new value, in the event of a covered loss.

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.

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.

How Much Does Renters Insurance Cost? Renters insurance costs an average of $157 a year for a policy with $15,000 of personal property coverage. The average cost of renters insurance for a policy with $30,000 is $199 annually, and a $50,000 policy costs an average of $260 a year.

The average annual cost of home insurance in Mississippi is $3,475. That's 81% more than the national average of $1,915. In most U.S. states, including Mississippi, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.