Mississippi Condo Insurance (2026): Average HO-6 Cost, Named-Storm Deductibles and Flood
Mississippi condo owners paid an average of $764 for an HO-6 policy in 2023, per the NAIC. How that compares with neighboring states, how coastal named-storm deductibles work, and why flood needs its own policy.
Last verified October 4, 2026 · Insurance 8020 is not a licensed insurance producer, broker or agent and does not sell policies.
Condo insurance in Mississippi cost an average of $764 a year for an HO-6 condominium unit owner’s policy in 2023, according to the NAIC’s latest homeowners report, about $106 more than the countrywide HO-6 average of $658. On the Gulf Coast, the bigger cost question is often the deductible: Mississippi rules allow percentage named-storm and hurricane deductibles on condo unit owner policies, and flood is never covered by a standard policy.
Key Takeaways
- Average HO-6 premium: $764. The NAIC’s report on 2023 data puts Mississippi’s average condo unit owner (HO-6) premium at $764, versus $658 countrywide.
- Higher coverage costs more. Mississippi HO-6 policies with $200,000 or more of coverage averaged $1,849 in 2023.
- Mississippi sits mid-pack in the region. Louisiana ($992) and Florida ($1,146) averaged more; Tennessee ($592) and Arkansas ($697) less; Alabama ($751) and Georgia ($748) were close.
- Named-storm deductibles apply to condo forms. Mississippi’s regulation covers condominium unit owner policies, and insurers using a percentage named-storm or hurricane deductible must offer a buy-back option unless granted a waiver.
- Flood is separate. The Mississippi Insurance Department says standard homeowners policies cover wind and hail but not flood, and flood policies typically have a 30-day waiting period.
How much does condo insurance cost in Mississippi?
The NAIC’s Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owner’s Insurance Report, published in 2026 with 2023 data, is the most recent official source for average condo premiums by state.
| Measure (NAIC, 2023 data) | Mississippi | Countrywide |
|---|---|---|
| Average HO-6 (condo unit owner) premium | $764 | $658 |
| Average HO-6 premium, $200,000+ of coverage | $1,849 | Not shown |
| Average HO-4 (renters) premium | $263 | Not shown |
| Average HO-3 (homeowners) premium | $2,029 | Not shown |
These are averages across all Mississippi condo policies, not quotes. The amount of coverage you buy drives the price: the $200,000-plus band averaged more than twice the all-policy figure. A condo owner on the coast with a high-value unit should expect a very different number from an inland owner insuring a smaller unit.
How does Mississippi compare with neighboring states?
| State | Average HO-6 premium (NAIC, 2023) |
|---|---|
| Florida | $1,146 |
| Louisiana | $992 |
| Mississippi | $764 |
| Alabama | $751 |
| Georgia | $748 |
| Arkansas | $697 |
| Countrywide | $658 |
| Tennessee | $592 |
Mississippi condo owners paid less than owners in Louisiana and Florida, about the same as Alabama and Georgia, and more than Arkansas and Tennessee. All figures come from the same NAIC report.
How do named-storm deductibles work on a Mississippi condo policy?
A named-storm deductible applies when damage is caused by a storm named by the National Weather Service. The Mississippi Insurance Department explains that these deductibles are typically a percentage of the insured dwelling value, rather than the fixed dollar amount used for other perils.
MID’s regulation on named-storm and hurricane deductibles defines homeowners’ insurance policies to include condominium unit owner forms. Under it, an insurer that includes a percentage named-storm or hurricane deductible must offer an actuarially sound buy-back provision, unless the Commissioner grants a waiver. The rule does not apply to windstorm coverage written by the Mississippi Windstorm Underwriting Association (MWUA) or to non-admitted carriers.
Ask your agent three questions before you buy: what percentage applies, what dollar amount that works out to on your policy, and what a buy-back would cost.
What is the Mississippi Windstorm Underwriting Association?
The MWUA is the state’s wind pool for coastal property. Mississippi Code § 83-34-1 defines its “coast area” as Hancock, Harrison, Jackson, Pearl River, Stone and George Counties. Condo owners in those counties may see wind coverage written separately from the rest of the policy, so confirm which policy pays for wind damage and which deductible applies.
Does condo insurance cover flood in Mississippi?
No. The Mississippi Insurance Department states that a standard homeowner’s policy covers wind and hail damage but not flood. Flood insurance is a separate policy, bought through an agent or the National Flood Insurance Program (NFIP), and typically has a 30-day waiting period, so it cannot be bought as a storm approaches. MID reported fewer than 50,000 NFIP policies in force in Mississippi as of December 2025.
What else affects your HO-6 price?
- Deductible choice. MID notes that most Mississippi homeowners policies offer an optional deductible; choosing a larger one lowers the premium but raises what you pay before coverage starts.
- Coverage amount. As the NAIC figures show, policies with $200,000 or more of coverage cost far more on average.
- Your association’s master policy. What the master policy covers decides how much your own HO-6 must cover. Read the declarations and bylaws before choosing limits.
Frequently Asked Questions
How much is condo insurance in Mississippi?
The NAIC reports an average HO-6 condo unit owner premium of $764 in Mississippi for 2023, compared with $658 countrywide. Policies with $200,000 or more of coverage averaged $1,849.
Is condo insurance more expensive on the Mississippi coast?
The NAIC does not publish condo premiums by county, so there is no official coastal average. Coastal units can face percentage named-storm deductibles, and the six MWUA coast-area counties (Hancock, Harrison, Jackson, Pearl River, Stone and George) have a separate wind pool, both of which affect what you pay.
Can I avoid a percentage named-storm deductible in Mississippi?
Mississippi’s regulation requires insurers that use a percentage named-storm or hurricane deductible to offer a buy-back provision, unless the Commissioner grants a waiver. A buy-back lowers the deductible for an added premium. It does not apply to MWUA wind policies.
Does my HO-6 policy cover flood damage?
No. Standard homeowners policies, including condo unit owner policies, do not cover flood. Flood insurance is a separate policy, usually through the NFIP, with a 30-day waiting period.
Is condo insurance required in Mississippi?
We found no Mississippi statute that requires unit owners to buy an HO-6 policy, but your condo association’s bylaws or your mortgage lender may require one. Check both before you close on a unit.
Important disclosures
Premium figures are statewide averages from the NAIC for illustration only and are not quotes. Your actual rate depends on your unit, location, coverage selections, deductible and insurer underwriting criteria. Get a quote from a licensed agent for your situation.
Insurance rules change. Confirm current requirements with the Mississippi Insurance Department or a licensed insurance professional. Citations reflect the rules as of October 4, 2026.
About Insurance 8020. Insurance 8020 is an independent insurance comparison and education resource. We are not a licensed insurance producer, broker or agent, and nothing on this site is a recommendation to buy a specific policy.
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Sources
- National Association of Insurance Commissioners, “Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owner’s Insurance Report: Data for 2023”, accessed October 4, 2026.
- Mississippi Insurance Department, “Regulation on Named Storm and Hurricane Deductibles”, accessed October 4, 2026.
- Mississippi Insurance Department, “Hurricane season press release”, May 26, 2026, accessed October 4, 2026.
- Mississippi Insurance Department, “Homeowners Insurance”, accessed October 4, 2026.
- Mississippi Code § 83-34-1, via Justia, accessed October 4, 2026.