With $256 Annual Premium, Mississippi Renters Face Nation’s Most Expensive Insurance Rates
KEY HIGHLIGHTS
- Mississippi ranks #1 in the nation for the most expensive renters insurance, with an average annual premium of $256 (2018–2022), 51% above the national benchmark of $170
- Mississippi renters pay $137 more per year than those in the most affordable state, North Dakota ($119 average), a gap of 115.1%.
- Mississippi outpaces every neighboring state: $15 more than Louisiana (#2), $35 more than Alabama (#4), $48 more than Arkansas (#7), and $68 more than Tennessee (#8).
For Mississippi renters, the cost of protecting their belongings is the highest in America, and it’s still climbing. A new state-by-state analysis of renters insurance premiums reveals that Mississippi’s average annual premium of $256 is not only the most expensive in the country, but has risen steadily each year since 2019, even as premiums in the majority of states declined.
According to an analysis by Ladah Injury & Car Accident Lawyers Las Vegas, renter insurance premium data from the National Association of Insurance Commissioners (NAIC) for the years 2018 through 2022 was examined across all 50 US states. Mississippi’s five-year average of $256 per year places it firmly at Rank 1, $86 above the national benchmark of $170 more than double the $119 average paid by renters in North Dakota, the most affordable state.
Mississippi Renters Insurance Premium: Year-by-Year Breakdown, 2018–2022
| Year | Renter InsurancePremium ($) | Year-over-Year$ Change | Year-over-Year% Change | NationalAvg. ($) |
|---|---|---|---|---|
| 2018 | $252 | — | — | $174 |
| 2019 | $252 | $0 | 0.0% | $170 |
| 2020 | $256 | +$4 | +1.6% | $169 |
| 2021 | $258 | +$2 | +0.8% | $166 |
| 2022 | $262 | +$4 | +1.6% | $168 |
| 5-Year Avg. | $256 | +$10 total | +4.0% total | $170 |
Mississippi’s renters insurance premium held flat at $252 from 2018 to 2019, then began a steady upward march: $256 in 2020, $258 in 2021, and $262 in 2022. Over the full five-year period, that represents a $10 increase (+4.0%). By contrast, the national average premium fell from $174 in 2018 to $168 in 2022, a decline of 3.4%. Mississippi is one of only 10 states where premiums rose over this period, and one of just two, alongside Louisiana, where premiums climbed in both the top-10 most expensive and the top-5 fastest-growing categories.
Looking at the study, Ramzy Ladah, Founder & CEO of Ladah Injury & Car Accident Lawyers, Las Vegas, commented:
“Mississippi renters are caught in a uniquely difficult position. The state already has some of the lowest median household incomes in the country, yet its renters insurance premiums are the highest in America, and they’re still rising. While most states saw premiums decline between 2018 and 2022, Mississippi’s climbed every year after 2019. That kind of persistent upward pressure, in a state where every dollar counts, is a red flag that Mississippi families deserve to understand and policymakers need to address.”
National Context: The 10 States With the Highest Average Renters Insurance Premiums, 2018–2022
| Rank | State | Avg. Premium ($)(2018–2022) | 2018Premium ($) | 2022Premium ($) | 5-Year $Change |
|---|---|---|---|---|---|
| 1 | Mississippi | $256 | $252 | $262 | +$10 |
| 2 | Louisiana | $241 | $234 | $243 | +$9 |
| 3 | Oklahoma | $227 | $236 | $216 | –$20 |
| 4 | Alabama | $221 | $222 | $219 | –$3 |
| 5 | Texas | $213 | $225 | $199 | –$26 |
| 6 | Georgia | $209 | $214 | $205 | –$9 |
| 7 | Arkansas | $208 | $211 | $205 | –$6 |
| 8 | Tennessee | $188 | $195 | $187 | –$8 |
| 9 | South Carolina | $184 | $184 | $186 | +$2 |
| 10 | Alaska | $183 | $175 | $186 | +$11 |
Mississippi leads the nation by a $15 margin over the second-most expensive state, Louisiana ($241). Southern and Gulf Coast states dominate the top 10, occupying 7 of 10 positions (Mississippi, Louisiana, Alabama, Georgia, Arkansas, Tennessee, and South Carolina). Notably, while 6 of the top 10 states actually saw premiums decrease between 2018 and 2022, Mississippi bucked the trend with a +$10 increase, the second-largest dollar increase in the top 10 behind Alaska (+$11), and ahead of Louisiana (+$9). This means Mississippi is not only the most expensive state for renters insurance, but one of the few where costs are actively getting worse.
Methodology
The analysis draws on renter insurance premium data published by the National Association of Insurance Commissioners (NAIC) for the years 2018, 2019, 2020, 2021, and 2022. The universe covers all 50 US states. Each state’s annual premiums were averaged across the five-year period to produce a single benchmark figure, and the 50 states were ranked from the highest to the lowest average premium, with Rank 1 indicating the state with the most expensive renters insurance and Rank 50 the most affordable. A national benchmark of $170 per year serves as the comparison point throughout. The analysis also calculates the dollar change and percentage change in premiums from 2018 to 2022 for each state to identify the fastest-rising markets. Findings describe the 50 US states only, excluding the District of Columbia and US territories.
Data Sources
- NAIC – Renter Insurance Premium Data by State
- CBO – The Budget and Economic Outlook: 2026 to 2036
- The Senior Citizens League – 2027 COLA Projection
- Research Dataset: https://docs.google.com/spreadsheets/d/1lJOP0X9gCrs8peEI-_dsLF4srlllCDplax1okpXvIfY/edit?gid=0#gid=0
- Study By: https://www.ladahlaw.com/
About Ladah Injury & Car Accident Lawyers Las Vegas
The study was conducted by Ladah Injury & Car Accident Lawyers Las Vegas, an experienced personal injury law firm dedicated to protecting clients’ rights and maximizing claim value.
