How To Find the Most Affordable Car Insurance in Mississippi

Fran
Lucy Lazarony
July 14, 2020

In Mississippi, the average cost of car insurance is $1,800 per year, 26 percent higher than the national average. With insurance rates that high, drivers in Mississippi could use some breaks. Fortunately for them, there are ways to lower your car insurance. And we’ll discuss that a little later on. But first, we’ll take a closer look at car insurance in Mississippi.

State Minimum Liability Requirements

Liability insurance helps to pay for the other person’s expenses if you are at fault in an accident. Each state sets minimum liability requirements for the drivers in their state.

In Mississippi, the minimum liability requirements are $25,000 bodily injury per person, $50,000 bodily injury per accident and $25,000 property damage per accident.

This minimum liability requirement in Mississippi costs approximately $603 per year.

A Comprehensive Policy Costs More

A more comprehensive policy with collision insurance and comprehensive insurance and deductibles of $1,000 would cost $1,613.

Collision auto insurance is coverage that helps to repair or replace your car if it is damaged in an accident with another vehicle or object such as a tree or a fence. Comprehensive auto insurance covers events not covered by collision coverage. These events include vandalism, fire, theft and damages from weather such as a tornado, a hurricane, a hailstorm and a windstorm.

If you have a loan on a car, your lender will require that you carry both collision coverage and comprehensive coverage.

A deductible is the amount you need to pay before your insurance company begins to pay for damages to your car or losses. Both collision coverage and comprehensive coverage require a deductible.

Choosing a high deductible is one way to save money on your insurance premium.

Cities with the Cheapest and Most Expensive insurance

In Mississippi, the city with the cheapest auto insurance is Tupelo. The city with the most expensive car insurance is Jackson.

Jackson is the state capital of Mississippi and the state’s most populous city. Tupelo is located in northeast Mississippi and is the birthplace of Elvis Presley.

Mississippi Is an At-fault State

When it comes to insurance, Mississippi is an at-fault state. This means Mississippi drivers are responsible for any damage they cause to another vehicle. An insurance adjuster determines who is at fault in an accident.

PIP stands for Personal Injury Protection is a required coverage in Minnesota.

How to Save Money on Car Insurance

Lucky for Mississippi drivers there are ways to save money on car insurance. It is time to look at tips and strategies you can use to lower auto insurance premiums. Here is a roundup. Use as many as you wish to save money on car insurance.

Be a good driver. Good drivers don’t have at-fault accidents or speeding tickets or DUIs. They drive safely following the rules of the road. Be a good driver and you will save money on car insurance in Mississippi. A Mississippi driver without a recent at-fault accident saves 28 percent on their auto insurance premium. But if you don’t follow the rules, your premium will go up. Car insurance premiums increase 31 percent after a DUI, 28 percent after an at-fault accident and 17 percent after a speeding ticket. A minor, at-fault accident will cost you around $731 each year on your car insurance premium. So it pays to be a safe and responsible driver. There is also something called a good driver discount, which will lower your car insurance as well. Be sure to ask for one if you’ve been a good driver without any accidents or violations on your record.

Be a married motorist. If you are married, you will pay less for auto insurance. There is a correlation between being married and exhibiting safe driving behavior. Because of this, married motorists pay less for auto insurance than singles. In Mississippi, married motorists save around $154 per year on their car insurance policies.

Get good credit. Insurance companies have been using consumer credit data to assign risk pools and determine insurance rates since the mid-1990s. If you have good or excellent credit you will enjoy a low car insurance premium. If you have no or poor credit you will pay much more for your auto insurance. In Mississippi, a driver with excellent credit saves roughly $1,855 on average per year in auto insurance premiums, compared with a driver with poor credit. To get good credit, bring all accounts current, pay down debt and stop taking on new debt. Pay your bills on-time, every month and eventually, you will build up a good payment history. All of these things will help to improve your credit score.

Get a multi-car discount. Insure more than one car with the same insurance company. Doing so will save you money on your auto insurance premiums.

Pay less often. Rather than paying monthly auto insurance bills, pay the entire annual amount or six-months amount. Your premium is lower when you pay just once or twice a year.

Try bundling. Bundle your auto insurance with another insurance policy such as a homeowners policy and save money.

Insure less on older cars. The maximum payout for comprehensive coverage and collision coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry comprehensive and collision coverages any longer.

Membership savings. Members of some professional organizations and affiliations get discounts on car insurance. Check the memberships in your wallet and see what savings you can find.

Check anti-theft and safety features. Having certain anti-theft and safety features on your car will lower your car insurance premium. So check the features on your car and find out if you are due a discount.

Choose a high deductible. Choosing a high deductible is one way to lower your auto insurance premium, especially on a newer car. Just be sure to put the deductible amount in a small emergency fund. This way the money will be there if you should need to make an auto insurance claim.

Stick with your coverage. You’ll pay higher insurance rates if you don’t maintain continuous coverage of your auto insurance. So stick with your insurance coverage and save money.

Be a low-mileage driver. If you have a heavy commute and rack up the miles, you will pay more for car insurance. But if you drive only low miles, you will save money on your car insurance. So drive less and pay less for your car insurance.

Pick a safe neighborhood. If you live in a neighborhood with high accident claims and auto theft, you will pay more on your auto insurance premium. If you live in a neighborhood with few accident claims and low crime, you will pay less on your premium. So choose a safe neighborhood and save money.

Check your age. Drivers who are younger than 25 and older than 65 have more serious accidents and pay more for car insurance. Drivers of those in-between ages pay less for car insurance.

Be a female driver. Women have fewer accident claims than men and are rewarded with lower insurance rates. Men make more claims and pay more.

Be a homeowner. Statistics show that people who own homes drive more safely. So let your insurance company know that you own your home and enjoy the savings on your auto insurance premium.

Shop around. The best way to save money on car insurance is to shop around. So you will want to take a look at car insurance quotes from several different insurance companies. SmartFinancial makes this easy to do. Just input the type of insurance you are looking for and zip code to get started. Answer a few, quick questions and you’ll be comparing auto insurance rates in Mississippi in no time.

SmartFinancial has access to more than 200 insurance companies so you are bound to find the insurance coverage and price that you are looking for. So shop smart for auto insurance and drive safely on roadways of Mississippi.

Get a Free Auto Insurance Quote Online Now.

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