The Gateway Arch is a landmark in St. Louis. It also houses over 300,000. residents , 43% of which own their homes. Although homeowners insurance is not required by law, it is required for those with a mortgage or home loan. Home insurance is an important part your financial plan, even if your home is not your own.
St Louis homeowners pay on average $1,524 per year for home insurance coverage with $250,000 of dwelling coverage. This is more than the average cost of home insurance so St. Louis residents may be looking for a cheaper policy. Bankrate’s Insurance editorial team did research that could help you find affordable home insurance in St. Louis.
The best home insurance deals in St. Louis
We first looked at average quoted premiums from Quadrant Information Services for the largest home insurers in St. Louis. We analyzed the premiums to determine the most affordable companies. Next, we reviewed the available coverages, discounts, policy features, and third-party rankings.
USAA is both the lowest average premium and the most J.D. Although the company isn’t officially ranked by J.D., it has a Power score. Due to eligibility restrictions, Power is not possible. USAA sells insurance only to current and former military personnel, as well their immediate families. USAA might be an option if you are eligible for coverage.
USAA offers home insurance that is military-oriented. This includes uniform coverage as well as standard coverages like dwelling coverage, loss coverage, personal property coverage, and personal responsibility coverage. There are also ways to save like bundling auto and home insurance, or installing a security system in your home.
Although AAA is most well-known for its roadside assistance program the company also offers a variety of insurance products including travel, life, and home insurance. AAA is a great choice if you’re looking for an affordable company that offers low average rates, but does not qualify for USAA.
AAA offers discounts that can help you save even more. Your home’s year of construction, your age, your home security system, your senior status, and recent renovations could all impact your savings.
Travelers has low rates and can tailor a policy to meet your needs. Green home coverage can be added to your policy to help repair or replace your home using more eco-friendly materials. Sump pump discharge and water backup coverage are options that can be used to cover damages due to a drain or sewer line backup. You also have the option of coverage for personal property, contents replacement costs and identity theft.
Travelers offers some of the lowest premiums in St. Louis, but it also offers many discounts such as savings on multiple policies, the installation of protective devices, and a LEED-certified green home.
Allstate offers a variety of optional coverages that can be added to your policy. These include yard and garden coverage which covers trees, landscaping, and riding lawnmowers. The electronic data recovery endorsement is another attractive option. It provides protection in the event that you lose your digital files.
Allstate members have access to a wide range of discounts. There are many ways to save money with Allstate.
State Farm is the largest U.S. insurance company, accounting for more than 17% of the US market share. Although the average premium for State Farm is higher than that of St. Louis, it’s still worth looking into a quote. State Farm offers many coverage options and discounts so you can find the policy that suits your needs and budget.
State Farm has a robust mobile application that allows you to manage your policy digitally. You can make payments, make claims, view the status of your claim, and make any changes to your account. You can also request roadside assistance via the app, if you have State Farm car insurance with the Bundling Discount.
Options for home insurance in St. Louis
Each region of the country is unique. You might also want to look into the following coverages if you reside in St. Louis.
- Earthquake coverage: St. Louis is near the New Madrid, Wabash Valley seismic zones. Although earthquake damage is not typically covered by your home insurance policy you might be able to purchase an endorsement or a separate policy.
- Flood insurance: St. Louis is not immune to flooding. Flood damage is not covered by homeowners insurance. Flood insurance can be purchased separately. Flood insurance is required if you live in a flood area.
- Insurance coverage for identity fraud: Identity theft is becoming more common as the world becomes more digital. Many companies offer endorsements that will cover the costs of restoration if your identity has been stolen.
Talking to a licensed agent can help you determine the coverages that you need.
St. Louis home insurance discounts
Although homeowners insurance in St. Louis may not be the most expensive, it is still more expensive than the average cost of homeowner insurance. Many insurance companies offer discounts to help offset the cost of your coverage. These are some of the most common discounts offered in St. Louis:
- Multi-policy: You may be eligible for a substantial discount if you purchase your home and auto insurance from the same company.
- Fire prevention: Showing evidence that your home has smoke detectors or a sprinkler system could help lower your rates.
- Security system: A security system can lower your chances of having your home burglarized. Many insurance companies offer discounts to homeowners who have security systems.
- Discounts on billing: You might be eligible for a discount if you are able to pay your premium in full.
Each company has its own discount, so it is worth speaking to a representative to learn more about your savings options.
Questions frequently asked
Which is the best company for home insurance?
Your individual circumstances will determine the best home insurer. Your premium will be affected by your personal rating factors such as your age, home’s age and ZIP code. Also, how many claims you have had. You may also be interested in certain coverages, discounts, or policy features. It is a great way to get quotes from multiple companies and find the right policy for you.
Is St. Louis required to have home insurance?
Although home insurance is not required by law, if you have a home mortgage or another type of loan, you will need to purchase it. If your home is damaged, your mortgage company may require you to purchase sufficient dwelling coverage.
What amount of home insurance do you need in St. Louis
There are tools that insurance companies can use to help you decide how much coverage to buy. Consider purchasing sufficient dwelling coverage to protect your home against the cost of replacement. Consider your liability exposure as well as how much coverage you need to protect your assets. It might be worth speaking with an insurance professional if you are unsure how much coverage you should purchase.