GITNUX MARKETDATA REPORT 2024

Statistics About The Average Cost Of Homeowners Insurance In Missouri

The average cost of homeowners insurance in Missouri is $1,140 per year, which is slightly lower than the national average.

With sources from: insurance.com, policygenius.com, bankrate.com, statefarm.com and many more

Statistic 1

Claims history is a significant factor in determining insurance premiums in Missouri.

Statistic 2

Older homes in Missouri may have higher premiums due to increased risk factors.

Statistic 3

The average monthly premium for homeowners insurance in Missouri is around $107.

Statistic 4

Missouri residents can receive discounts for bundling multiple policies with the same insurer.

Statistic 5

Missouri's homeowners insurance rates are approximately 21% higher than the national average.

Statistic 6

Earthquake insurance is an additional option, especially relevant in regions like New Madrid.

Statistic 7

Deductibles can range from $500 to over $5,000 depending on the insurance plan.

Statistic 8

Missouri offers a FAIR Plan for high-risk properties that can't find traditional coverage.

Statistic 9

Tornadoes and hail are common perils impacting insurance costs in Missouri.

Statistic 10

Springfield, MO tends to have lower insurance rates compared to St. Louis.

Statistic 11

Home safety features like alarm systems can lower insurance costs by up to 15%.

Statistic 12

Homeowners insurance costs can vary significantly between urban and rural areas in Missouri.

Statistic 13

Discounts for non-smokers can lower premiums by 2-5%.

Statistic 14

The average homeowners insurance cost in Missouri is about $1,285 per year.

Statistic 15

The median deductible for homeowners insurance policies in Missouri is $1,000.

Statistic 16

Homeowners in Missouri may pay anywhere from $500 to $3,000 depending on the coverage and location.

Statistic 17

Advanced roofing materials can lead to premium reductions.

Statistic 18

Missouri ranks 12th in the United States for highest homeowners insurance rates.

Statistic 19

Flood insurance is not covered under standard Missouri homeowners policies, requiring additional purchase.

Statistic 20

The average cost of homeowners insurance in Missouri has risen by about 3% annually.

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In this post, we will explore the intricacies of homeowners insurance in Missouri through a series of statistical insights. From the impact of claims history on premiums to the average cost of insurance and factors influencing variations in rates, we will shed light on the key considerations for homeowners in the state. Whether you reside in a high-risk area or are looking to maximize discounts, understanding these statistics can help you make informed decisions when it comes to protecting your property and finances.

Statistic 1

"Claims history is a significant factor in determining insurance premiums in Missouri."

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Statistic 2

"Older homes in Missouri may have higher premiums due to increased risk factors."

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Statistic 3

"The average monthly premium for homeowners insurance in Missouri is around $107."

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Statistic 4

"Missouri residents can receive discounts for bundling multiple policies with the same insurer."

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Statistic 5

"Missouri's homeowners insurance rates are approximately 21% higher than the national average."

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Statistic 6

"Earthquake insurance is an additional option, especially relevant in regions like New Madrid."

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Statistic 7

"Deductibles can range from $500 to over $5,000 depending on the insurance plan."

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Statistic 8

"Missouri offers a FAIR Plan for high-risk properties that can't find traditional coverage."

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Statistic 9

"Tornadoes and hail are common perils impacting insurance costs in Missouri."

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Statistic 10

"Springfield, MO tends to have lower insurance rates compared to St. Louis."

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Statistic 11

"Home safety features like alarm systems can lower insurance costs by up to 15%."

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Statistic 12

"Homeowners insurance costs can vary significantly between urban and rural areas in Missouri."

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Statistic 13

"Discounts for non-smokers can lower premiums by 2-5%."

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Statistic 14

"The average homeowners insurance cost in Missouri is about $1,285 per year."

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Statistic 15

"The median deductible for homeowners insurance policies in Missouri is $1,000."

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Statistic 16

"Homeowners in Missouri may pay anywhere from $500 to $3,000 depending on the coverage and location."

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Statistic 17

"Advanced roofing materials can lead to premium reductions."

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Statistic 18

"Missouri ranks 12th in the United States for highest homeowners insurance rates."

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Statistic 19

"Flood insurance is not covered under standard Missouri homeowners policies, requiring additional purchase."

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Statistic 20

"The average cost of homeowners insurance in Missouri has risen by about 3% annually."

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Interpretation

In conclusion, homeowners insurance premiums in Missouri are influenced by various factors such as claims history, age of the home, location, and additional coverage options like earthquake insurance and flood insurance. While the average monthly premium in Missouri is around $107, residents can receive discounts for bundling policies and implementing home safety features. Despite being 21% higher than the national average, rates can vary significantly between urban and rural areas. The average yearly cost of homeowners insurance in Missouri is approximately $1,285, with deductibles ranging from $500 to over $5,000. It is important for Missouri homeowners to consider these statistics and factors when determining their insurance needs and coverage options.

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