St. Louis, the second-largest city in Missouri, faces its own set of risks that impact home insurance rates. The average home insurance cost in St. Louis is $1,750 per year, which is slightly higher than the national average but comparable to Kansas City. Factors like crime rates, severe weather, and older homes all play a role in determining insurance premiums.
Local Factors Impacting Home Insurance Costs in St. Louis
Severe Weather: St. Louis experiences thunderstorms, flooding, and tornadoes, all of which increase the risk of property damage.
Crime Rates: St. Louis has a relatively high crime rate compared to other Missouri cities, which can increase home insurance costs due to the risk of theft and vandalism.
Older Homes: Like Kansas City, St. Louis has many older homes, and maintaining or repairing these homes can be expensive, which leads to higher insurance premiums.
Home Insurance Rates by Home Age in St. Louis
The age of your home is a key factor in determining insurance rates. Here’s a breakdown of the average home insurance premiums by home age in St. Louis:
Home Age
Average Annual Premium
0-10 years
$1,575
11-25 years
$1,700
26-50 years
$1,825
51+ years
$2,000
Home Insurance Rates by Credit Tier in St. Louis
Credit score significantly affects home insurance premiums in St. Louis. Here’s how rates vary based on credit tiers:
Excellent Credit (750+): $1,650 per year
Good Credit (700-749): $1,770 per year
Fair Credit (650-699): $1,900 per year
Poor Credit (Below 650): $2,200 per year
Cheapest Home Insurance Providers in St. Louis
Here are the most affordable home insurance providers in St. Louis, along with their average annual premiums:
Provider
Average Annual Premium
State Farm
$1,695
Farmers
$1,750
Allstate
$1,775
Liberty Mutual
$1,800
Home Insurance Rates by Deductible Amount in St. Louis
The size of your deductible affects your premium, with higher deductibles leading to lower premiums. Here’s a breakdown of how deductible choices impact insurance costs in St. Louis:
$500 deductible: $1,925 per year
$1,000 deductible: $1,750 per year
$2,500 deductible: $1,575 per year
Types of Homeowners Insurance in St. Louis
HO-3: The standard home insurance policy covering the dwelling, personal property, and liability.
HO-5: Comprehensive coverage that offers greater protection for both personal belongings and the structure.
HO-4: Renters insurance, covering personal property and liability for tenants.
Additional Coverage Options
Flood Insurance: St. Louis homeowners near the Mississippi River or in low-lying areas should consider flood insurance, as standard policies do not cover flooding.
Earthquake Insurance: Missouri is near the New Madrid Fault, and while earthquakes are rare, homeowners may want to consider adding earthquake coverage for extra protection.
Sewer Backup Insurance: Protects your home from water damage caused by sewer backups, which can be particularly important for older homes in the city.
Frequently Asked Questions (FAQs) about Home Insurance in St. Louis
Is flood insurance necessary in St. Louis? It depends on your location. If you live near the Mississippi River or in a floodplain, flood insurance is highly recommended.
Why do older homes have higher insurance premiums in St. Louis? Older homes often have outdated electrical, plumbing, and roofing systems, which can be more expensive to repair or replace, resulting in higher premiums.
Comparison of Home Insurance in Kansas City vs. St. Louis
Kansas City: $1,780 average annual premium
St. Louis: $1,750 average annual premium
Both Kansas City and St. Louis have similar average home insurance premiums, with weather-related risks such as tornadoes and storms driving up costs in both cities. St. Louis may have slightly higher premiums in certain areas due to its higher crime rate, while Kansas City’s tornado risk also contributes to elevated premiums.oding.
