Ridgeland Homeowners Insurance

Your Complete Guide to Ridgeland, MS Homeowners Insurance

(Everything you need to know - and more)

Yazoo City Mississippi homeowners insurance

Located just outside of Jackson, Ridgeland, MS is home to about 24,000 people. Ridgeland’s low crime rate, great schools, and various employment opportunities make this a great place to own a house. If you are among the many property owners in this historic city, you will want to protect your investment with a comprehensive homeowners insurance policy.

When you are shopping for the best coverage for your Ridgeland home, an independent insurance agent can help. Find an agent with an office near you to learn more about your options when it comes to homeowners insurance.

How Much Does Homeowners Insurance Cost in Ridgeland, MS?

On average, homeowners in Mississippi pay more for home insurance than property owners throughout much of the country. In Ridgeland, where there are many high-value homes, the average rate is a bit higher. Let’s look at a rate comparison:

  • National average yearly premium: $1,211
  • Mississippi average yearly premium: $1,537
  • Ridgeland, MS yearly premium average: $1,805

Of course, because home insurance rates are calculated on a case-by-case basis, your actual cost may be higher or lower than this average rate. Insurance companies base their prices on a number of factors such as:

  • The age, size, and value of your home
  • The number of stories your house has and whether it has a basement
  • The type of house you are insuring (e.g., single-family detached home, condo, mobile home, vacation home, etc.)
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • Whether you are bundling your coverage with other policies like car insurance, business insurance or life insurance

Each insurance company has its own way of calculating rates, so it's a good idea to compare quotes from a few different providers before making a selection. That way, you can be sure that you are not paying too much for your coverage. Independent insurance agents make comparison shopping easy.

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What Kinds of Damage Does Ridgeland Homeowners Insurance Cover?

Your homeowners insurance policy is designed to provide coverage against many of the hazards you are likely to face as a property owner in Ridgeland. A local insurance agent can help you review your dwelling and contents coverage limits so you can be sure that they are high enough to enable you to fully rebuild or replace damaged property following a catastrophic event.

There are a number of ways that your Ridgeland home may sustain damage, including hazards like residential fires, hailstorms, strong winds, hurricanes and tropical storms. Tornadoes also pose a significant risk, since tornado activity in this area is 166% higher than the national average. Fortunately, all of these risks are covered by most homeowners insurance policies.

Catastrophic Events in Mississippi

  • Number of federally declared disasters in Mississippi: 83
  • Most common reasons for disasters in the state:  Severe stormss
  • Average number of tornadoes per year in Mississippi:  43
  • Average amount of property damage per year in MS:  $414.3 million
  • 1 in 15 insured homes has a claim each year.

Some residents of Ridgeland are also prone to damage caused by floods. Those who live near White Oak Creek and Brashear Creek have a higher risk. But when hurricanes and tropical storms bring heavy rains to the area, flash flooding can happen anywhere. Unfortunately, this hazard is not covered by homeowners insurance. 

Flood damage can be extremely expensive. That is why it is a good idea to supplement your home coverage with a flood insurance policy through the National Flood Insurance Program (NFIP). Your local insurance agent can help you assess your risk, and if appropriate, can assist you with purchasing affordable coverage.  Be aware that flood insurance policies take 30 days to go into effect.

Talk to your local insurance agent to learn more about covering your personal property.

Why Do Ridgeland Homeowners Need Liability Protection?

Accidents happen, and people make mistakes. Sometimes, these accidents or errors in judgment lead to third-party injuries or damage. If you are to blame, you will be expected to pay for the resultant costs. Depending on the severity of the damage, this can get expensive. That is why homeowners insurance also provides you with liability coverage.

Your homeowners liability insurance is designed to cover your court costs, legal defense fees, and financial damages if you are held liable for a covered event. Examples of times that this insurance can provide coverage include:

  • If someone is seriously injured in an accident while on your property
  • If you accidentally injure someone while you are away from home, such as while hitting the links at the Grove Park Golf Course
  • If your dog gets loose and bites someone
  • If your child damages your neighbor’s picture window while playing baseball with friends
  • If you are accused of libel or slander, a risk that has grown in the age of social media

Talk to a local independent insurance agent to learn more about the many ways that the liability coverage included in your Ridgeland home insurance policy can protect you. If you want even more coverage than your home insurance policy will allow, your agent can also help you secure an affordable umbrella insurance policy. This is a great way to boost all of your liability coverage.

What Is the Burglary Rate in Ridgeland?

The burglary rate in Mississippi is much higher than the national average, but in Ridgeland, the risk is much lower. That is not to say that burglaries don’t happen in Ridgeland. Residents of this city report around 50 burglaries every year.

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in Mississippi: 7.81
  • Number of burglaries per 1,000 homes in Ridgeland: 1.30

Being the victim of a property crime is stressful enough. If your Ridgeland home is broken into, it may bring you some comfort to know that your homeowners insurance can provide compensation for your losses as well as for any property damage the burglars may have done to your house.

Because home security systems are among the most effective theft deterrents, many insurance companies offer discounts to policyholders who have burglar alarms installed in their homes. A local independent agent can help you find all of the potential discounts for which you may qualify.

What about Insurance for Second Homes and Vacation Homes?

Maybe you own a weekend getaway cabin near the Gulf Coast. Or perhaps you own a second home in nearby Jackson that you rent out to students at Belhaven University. Whatever your reasons, if you own more than one home, there are additional factors that insurance companies will consider when calculating quotes for coverage.

Vacation homes that are left unoccupied for long periods typically have higher risks of property damage. This is because hazards like water leaks, animal activity, or property crimes can go unnoticed long enough that they result in serious damage. Vacation houses may therefore need to be covered by vacant home insurance during the times they are not in use.

Houses that are occupied by tenants have higher property damage and liability risks that houses that are occupied by their owners. However, they require less in the way of content coverage. Landlord insurance offers the right balance of coverage and is typically required by insurance companies if you have tenants living in your property.

An independent insurance agent can help you find the right coverage to make sure that your residential properties are sufficiently covered.

Why Work with an Independent Insurance Agent in Ridgeland, MS?

Independent insurance agents live and work in your community, so they understand the risks you face as a homeowner in Ridgeland. These agents make it easy to find the best home coverage available because they are able to obtain a variety of customized quotes that you can review and compare together.

Find an insurance agent in or near Ridgeland to schedule a one-on-one consultation and get more information.

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com