If you own property in Missouri, it is important to purchase homeowners insurance. It will protect you from any damage or loss. A standard homeowners insurance policy covers your house, other structures on your property and personal belongings against a variety of perils, including fire, theft, and water damage.
Best home insurance in Missouri: Allstate USAA Liberty Mutual
If your budget allows it, you should shop around for the best deal on homeowners insurance. Choosing the right policy is crucial to protecting your most valuable asset.
A good company will offer a balance between affordability, service quality, financial stability, and a high claims rating. MoneyGeek reviewed thousands of quotes from Missouri homeowners insurance providers to determine which ones offer the most affordable rates, quality service, financial stability and a strong claims rating.
The best homeowners insurers in Missouri are Allstate, USAA and Liberty Mutual based on their customer ratings, deductible savings and coverage options. Allstate, USAA and Liberty Mutual offer first-time buyers and policy switchers discounts and educational resources.
Missouri Costs and Insurance Issues
Cost of homeowners insurance is affected by a variety of factors including location, age, and credit score. Those living in a high-risk area like a tornado belt or a city with an above-average crime rate may pay higher rates.
You should also check your state's insurance requirements. Some states require homeowners carry certain types of insurance such as coverage for earthquakes or floods. Shop around for the best price if your state mandates that you buy a separate insurance policy.
The age and condition of your home can also affect the cost of insurance. Older homes are more likely to need repairs or replacements, which can raise your premiums.
If your home is in a tornado-prone region or has an above-average risk of natural disasters, you should consider adding additional coverages to your homeowners policy. These policies help protect you from losses and damage due to storms, landslides or earthquakes.
Consider purchasing the following additional coverages.
Other structures on your property that are not attached to your house (garages, sheds, etc.) Many policies are separate. This coverage is crucial to replace any buildings that have been destroyed or damaged by a storm.
You may choose to cover yourself with one of the following options, depending on your circumstances and preferences:
Full Replacement Cost
This option will pay for your home's rebuilding costs following a major loss. This option can be especially useful if your home is being rebuilt after a major catastrophe.
Extended Coverage
The coverage is useful for homeowners who have added a pool or a hot tub to their house. It can also cover your costs of replacing lost or stolen items.
For an additional cost, you can get many add-ons or endorsements. You can add the following to your Missouri homeowners insurance policy:
A Zero Deductible Benefit
Some insurance companies have a zero-deductible policy that can help you save a lot of money if there is a claim. This is a good way to lower the cost of your annual homeowners' insurance, but you should understand its workings before purchasing.