Mississippi Car Insurance

Mississippi has its fair share of auto accidents. For this reason, the Mississippi Insurance Department stresses the importance of auto insurance. There are many types of insurance policies available in Mississippi, each one designed for a specific purpose. Liability insurance covers the other party’s expenses resulting from an accident. Collision insurance covers a driver’s damage expenses resulting from an accident, whereas comprehensive insurance covers a driver’s damage expenses resulting from something other than a collision. Uninsured/Underinsured motorist insurance covers a driver’s expenses in the event that the at-fault party doesn’t have enough or any liability insurance.

To make sure each driver is protected financially in the event of an accident, the state has passed a law in 2006 establishing minimum liability insurance coverage that each driver must have. However, the Insurance Department recommends that drivers consider purchasing more than the minimum required amount, and even additional types of coverage to ensure they are fully covered in the event of an accident.

Required Coverages in Mississippi:

  • Bodily Injury Liability Per Person: $25,000
  • Bodily Injury Liability Per Accident: $50,000
  • Property Damage Liability: $25,000

According to the Mississippi Insurance Department, if you are caught driving without at least the minimum amount of liability insurance coverage, the penalties start at a $1,000 fine and having your driver license suspended for one year. You can have your fine reduced to $100 and get your license back in less time if you purchase insurance and show proof of your coverage, according to House Bill 621.

However, more severe penalties may be enforced, including higher fines, license suspension, and imprisonment, depending on factors such as the number of offenses you have for driving without insurance, whether you were involved in an accident while driving without insurance, and the extent of bodily injuries and property damage resulting from the accident.

Determining Your Rate in Mississippi

Studies conducted by the Mississippi Insurance Department, the U.S. Department of Transportation, and other organizations have researched the determining factors when considering the level of risk an individual is to insure. These factors are used when deciding a person’s car insurance rate in Mississippi. A person’s driving record, credit score, age, gender, marital status, vehicle type, vehicle use, and where they live are all taken into consideration. High-risk factors include a poor driving record, a low credit score, drivers younger than 25, male drivers, single (unmarried) drivers, a vehicle that is more likely to be stolen or is high performance, long daily commutes, and living in an area with a high number of accidents or a high crime rate. If you have any of these high-risk factors, your rates may be higher.

According to the Insurance Information Institute, the average cost of liability insurance in Mississippi is $418. However, shopping for car insurance quotes in Mississippi will show you that this amount can vary depending on the company you chose, as well as your personal level of risk. The Mississippi Insurance Department provides a price comparison that will show you how much some of the major insurance companies in Mississippi will charge depending on certain scenarios.