In Missouri, the average cost of home insurance is $2,796 per year for a $300,000 policy — higher than the national average cost of $2,532 per year.

But just because the state’s average insurance rate is high doesn’t mean Missourians are stuck paying high premiums. Allstate, Armed Forces Insurance Exchange, American Family, and State Farm are four of the cheapest home insurers in the state.

This high premium cost may be related to the myriad of perils homes face in the Show Me State. Not only does Missouri experience extreme winter weather, but some areas may also see tornadoes, flooding, and even earthquakes. Standard homeowners insurance doesn’t cover all these perils, so it’s important for Missouri homeowners to determine if they need additional coverage to protect themselves.

Here’s what you need to know about comparing quotes and finding coverage in Missouri.

Best home insurance companies in Missouri

A number of good homeowners insurance companies serve Missouri residents. Below are four of the best home insurance companies in Missouri — but remember that the best home insurance company for you will depend on your specific situation and coverage needs.

Cheapest rates: Armed Forces Insurance Exchange

Armed Forces Insurance Exchange — an insurer that serves veterans, active-duty members of the military, and their families — offers the cheapest home insurance rates in the Show Me State. In addition to very low rates, this insurer also provides a number of important optional coverages, including earthquake, flood, water backup and sump overflow, and animal liability coverage.

Policyholders may also be eligible for discounts and credits for installing central station burglar and fire alarms, implementing windstorm mitigation features, and living in a gated or guarded community.

Best insurer for getting a quote online: American Family

Best insurer for policy customization: Allstate

Best insurer for bundling: State Farm

Cheapest home insurance in Missouri

Allstate offers the lowest price home insurance in Missouri. A policy from this insurance company costs around $157 per month.

But remember that the best home insurance company for you will meet your specific needs. If the cheapest home insurance company in Missouri isn’t right for you, consider the following insurers that also have affordable prices:

Cost of homeowners insurance in Missouri

The average home insurance rate in Missouri is more expensive than the national average. A Missouri homeowner with a $300,000 home and a $1,000 deductible pays an average of $3,045 per year. But across the U.S., the average cost of home insurance is only $2,532 per year.

Though the coverage limits and deductibles you choose can make a big difference in how much you pay for insurance, Missouri homeowners might pay more than other Americans for a number of reasons. Insurance companies set insurance premiums based on factors like whether you live in an urban or rural area, the age of your home, your credit history, the coverage options you choose, and what weather risks are most likely to cause property damage where you live.

Cost of homeowners insurance by dwelling coverage amount

A standard homeowners insurance policy includes dwelling coverage, which pays to repair or replace any damage to the physical structure of your home. It’s generally a good idea to have enough dwelling coverage to cover the replacement cost of rebuilding your home, but remember that different levels of dwelling coverage have different premium amounts. The higher your dwelling coverage limit, the more you’ll pay for your premiums.

The average cost of homeowners insurance in Missouri with a $1,000 deductible will change depending on the dwelling coverage options, as shown in the table below.

Cost of homeowners insurance by deductible

If you have to file a claim on your homeowners policy, you’ll likely have to pay a certain amount of money before your coverage kicks in. This money is called the deductible, and it directly affects your premiums. A higher deductible comes with lower rates since you’ll have to pay more to fix damage to your home after a covered loss, while a lower deductible means paying higher premiums.

Here are the average annual premium costs in Missouri based on deductible amount.

How to get cheap homeowners insurance in Missouri

Savvy homeowners can lower their homeowners insurance costs without sacrificing necessary coverage by using one or more of these strategies:

• Shop around. Insurance companies don’t all use the same factors to determine your premiums. Getting quotes from multiple home insurance companies is the best option for finding the best coverage level at the lowest rate.

• Bundle multiple insurance products. Many insurers offer discounts to consumers who purchase multiple types of insurance from the same company. Lower your insurance rates for everything from auto and home insurance to life insurance and personal liability coverage if you get all your policies from the same insurer.

• Increase your deductible. A higher deductible will lower your premium rates but cost you more if you have to make a claim. Just be sure you have enough money to cover the deductible if something happens to your house.

How much homeowners insurance do you need in Missouri?

Unlike the requirement to carry minimum levels of auto insurance, Missouri doesn’t mandate homeowners insurance. But if you have a mortgage on your home, your mortgage lender will require you to purchase a home insurance policy as a condition of your loan.

Make sure you know exactly what your home insurance policy covers since not all perils are considered a covered loss. For example, standard homeowners insurance policies almost never include coverage for flood damage. Homeowners living in areas prone to flooding must purchase separate flood insurance coverage to protect themselves.

What are some of the biggest risks when owning a home in Missouri?

How much you pay for homeowners insurance can vary greatly depending on your ZIP code since severe weather patterns, local climate, theft and property crime statistics, and proximity to fire stations can all affect the types of risk your home is exposed to.

As a landlocked state, Missouri doesn’t face the same natural disasters coastal homeowners might experience, but residents should be aware of these common risks in the Show Me State: