Mississippi is one of the few states that do not require vehicle owners to carry car insurance. Instead, Mississippi offers local drivers the option of posting cash bonds to cover the costs associated with auto accidents. However, most of us don’t have fifty or sixty grand lying around, and accidents are prohibitively expensive. So car insurance is a must-have for Mississippi drivers. Scroll down to learn more about Mississippi car insurance. This page provides the latest available stats, facts and premium rates on insurance for owners of vehicles in the state of Mississippi. Find out how to choose the right car insurance package at the lowest possible rates.
Mississippi Minimum Liability Coverage
The minimum liability required by Mississippi state law is 25/50/25 for each vehicle owned. That means $25,000 in coverage against personal injury, $50,000 in coverage against injury to others and $25,000 in coverage against property damage.
Although research professionals at the Insurance Information Institute recommend 100/300 coverage for each vehicle owned in the United States, most Mississippi residents stick to the minimum coverage. Experts also recommend Uninsured Motorist (UMI) coverage in Mississippi, which has the highest percentage of uninsured vehicles of all U.S. States.
Penalties for Driving Without Insurance in Mississippi
The penalty for getting caught driving an uninsured vehicle in Mississippi is a $500 fine and a suspended license for up to one year. Statistics show that roughly twenty-eight percent (28%) of vehicles on Mississippi roads are uninsured. This is partly because many drivers cannot afford the insurance premiums in such a poor economy.
Auto Insurance Rates in Mississippi
The average annual auto insurance premium in the state of Mississippi was $1,277 in 2016. This was only slightly lower than the national average, which was $1,347 at the time. Still not bad, considering that Mississippi has the highest rate of uninsured drivers of any U.S. state. According to statistical reports from Top50States.com, it is no coincidence that Mississippi also ranks highly in deaths related to speeding. This, combined with a perpetually poor economy, helps explain Mississippi’s higher-than-expected car insurance premiums.
Low Cost Car Insurance Programs in Mississippi
Auto insurance carriers in most states offer discounts to entice vehicle owners to use their services. Mississippi is no exception. Available low cost auto insurance deals include Accident Free discounts, Good Driver discounts, Good Student discounts, Multiple Automobile discounts, Multiple Policy discounts, Passive Restraint discounts and Vehicle Safety discounts, for instance. The best way to score a low cost car insurance package is to qualify for as many special discounts as possible.
Obtaining Auto Insurance Quotes in Mississippi
According to recent online comparisons, consumer reviews, and customer satisfaction ratings, Mississippi’s favorite auto insurance providers are big-name carriers like Allstate, Geico, Liberty Mutual, State Farm and 21st Century Insurance. Still, many Mississippi drivers opt for local carriers like Direct General. Some drivers even choose independent carriers. In any case, Mississippi is home to many thousand insurance agents who provide comprehensive auto insurance at competitive rates. Contact agents to compare quotes. Ask about their discounts.