A fresh rate hike from the Mississippi Windstorm Underwriting Association (aka the “windpool”) is hitting coastal homeowners just as key state grant programs are shutting down. For many residents, it’s a perfect storm of bad timing.
What’s Happening on the Coast
Mississippi’s coastal counties — especially Harrison, Jackson, and Hancock — already pay some of the highest homeowners insurance rates in the country. Now, the windpool, which covers storm damage for people who can’t get private coverage, has announced another significant premium increase.
The move comes as two state-funded programs designed to help homeowners harden their houses against hurricanes — including the Homeowner Mitigation Grant Program — have run out of funding.
“It feels like we’re being punished for living here,” says Gulfport resident Marcus Lee, 27. “We’re already dealing with inflation, and now my insurance is jumping by hundreds a year.”
Why Are Rates Climbing So Fast?
Insurance companies say it’s about risk and climate change. Stronger storms and more frequent hurricanes mean bigger payouts. Plus, construction costs for repairs have skyrocketed over the past few years, making every claim more expensive.
Mississippi’s windpool works as a “last resort” insurer, so when private companies pull out, more people pile in — which drives up costs for everyone still in the pool.
For a breakdown on how climate change is shaping insurance markets nationwide, check out our piece on how Florida’s homeowners are feeling the pinch.
Did You Know?
The average annual home insurance premium in Mississippi’s coastal areas now tops $2,500 — nearly double the national average, according to the Insurance Information Institute.
What Homeowners Can Do
While the loss of grant programs makes things tougher, some steps could help keep costs down:
Shop around — Some smaller insurers may still offer competitive rates.
Bundle policies — Combining home and auto insurance can earn discounts.
Harden your home — Impact-resistant roofing and storm shutters can sometimes reduce premiums, even without state grants.
Check flood insurance options — Rising seas mean it’s worth revisiting coverage regularly.