How Much Does Mississippi Rental Insurance Cost?
The average cost of rent insurance in Mississippi is $ 26.16 per month or $ 314 per year. Mississippi is one of the most expensive states in terms of rental insurance, surpassing the US average of $ 187 per year by $ 127 per year when renting an apartment or single-family home.
Who has the cheapest rental insurance in Mississippi?
Lemonade has some of the best cheap rental insurance rates in Mississippi, and they offer one of the easiest and fastest ways to get rental insurance coverage.
But renters should compare rates and insurance with multiple companies to ensure they get the best deal
With Lemonade, you can also package your homeowners' insurance and very soon also package car insurance to get even lower rates on your coverage overall.
What factors affect the rental insurance premium?  The rental insurance cost in Mississippi will be vary depending on several factors such as:
Where you live – Different cities in Mississippi will always have different insurance cities in Mississippi. on environmental risks, such as fire and crime. If your home or apartment has security cameras or if you live in a gated community, it can also reduce your costs.
Your deductible – A higher deductible usually means lower monthly payments. Would you instead pay less monthly and more at once, or would you instead pay more monthly and a lower deductible if you need to use your coverage? It depends on what is best for your budget and your personal belongings.
How much coverage do you need – What items do you cover? If your belongings have a value that exceeds the minimum protection, you may want to raise the limit for your rental insurance. However, such a change can increase the cost of your tenant insurance.
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What do Mississippi tenants cover?
The rental insurance covers your personal property and your liability if you are legally liable for any damages caused to someone else. Below we go over each coverage area in more detail.
Personal Property Protection
Personal Property Protection means that if something happens to your belongings, the insurance company will give you money to replace them at either cost or present value (depending on your type of property). policy).
Personal liability insurance covers you if someone decides to sue you after being injured in your house. The insurance company pays the legal costs and any settlement to the injured party.
Healthcare costs go hand in hand with personal liability protection. So, for example, if someone sues you for injuring themselves in your home, this coverage will take care of their medical bills.
Loss Of Use (also known as Extra Living Expenses – ALE)
Loss of use protection means that if something happens to your home and you cannot live there due to the damage, your insurance company will reimburse your living expenses.
What items do Mississippi tenants cover?
In Mississippi, rental insurance, also called personal property insurance, covers everything you own that is portable, temporary housing if your home becomes uninhabitable, and damage other people incur in your home.
Coverage options include things like: