Choosing the right car insurance in Mississippi is crucial. With a higher-than-average rate of uninsured drivers and unique road conditions, having adequate coverage is essential for financial protection and peace of mind. This article will guide you through the top car insurance companies in Mississippi, helping you find the best rates and coverage options to suit your individual needs.
Understanding Mississippi Car Insurance Requirements
Mississippi law mandates that all drivers carry minimum levels of liability insurance. These minimums are:
- Bodily injury liability: \$25,000 per person and \$50,000 per accident
- Property damage liability: \$25,000 per accident
While these minimums meet the legal requirements, they may not be sufficient to cover all damages in a serious accident. Consider that minimum coverage only pays for damages or medical expenses for other drivers if you are at fault. For coverage of your own vehicle and medical expenses, you’ll need a full-coverage policy.
Why Full Coverage Might Be Right for You
A full-coverage auto policy typically includes collision and comprehensive insurance, in addition to the required liability coverage. Collision insurance covers damage to your vehicle if you’re at fault in an accident, while comprehensive insurance covers damage from events like theft, vandalism, weather (hailstorms are common in Mississippi), or hitting an animal.
Given Mississippi’s high percentage of uninsured motorists, adding uninsured/underinsured motorist coverage is also a wise decision. This protects you if you’re hit by a driver who doesn’t have insurance or doesn’t have enough insurance to cover your damages. According to the Insurance Research Council, as many as 22% of Mississippi drivers had no car insurance in 2022.
Top Car Insurance Companies in Mississippi
Here’s a detailed look at some of the top-rated car insurance companies in Mississippi, considering factors like coverage options, customer service, affordability, and industry standing:
National Farmers Union: Best Coverage for Mississippi Drivers
- Average Monthly Minimum-Coverage Rate: \$31
- Average Monthly Full-Coverage Rate: \$136
- Why Choose Them: National Farmers Union is known for its low rates and community-focused coverage, particularly for those in rural areas and agricultural professions. They stand out for local customer service. This company is owned by National General which is known for its wide selection of coverage options.
USAA: Best for Military Members
- Average Monthly Minimum-Coverage Rate: \$30
- Average Monthly Full-Coverage Rate: \$126
- Why Choose Them: If you’re an active-duty or retired military service member (or an eligible family member), USAA offers some of the cheapest car insurance in Mississippi and consistently receives high customer satisfaction scores. USAA also offers new-car replacement and accident-forgiveness coverage.
Farm Bureau: Affordable Full Coverage
- Average Monthly Minimum-Coverage Rate: \$43
- Average Monthly Full-Coverage Rate: \$211
- Why Choose Them: Farm Bureau has a reputation for solid customer service and dependable coverage. Its full coverage is particularly affordable for drivers in Mississippi, and customers can access a statewide network of insurance agents. Standout offerings include new-car replacement and ride-share insurance.
Geico: Best Budget Coverage in Mississippi
- Average Monthly Minimum-Coverage Rate: \$36
- Average Monthly Full-Coverage Rate: \$173
- Why Choose Them: Geico is a great option for safe drivers looking for budget-friendly coverage. Coverage options include uncommon add-ons, such as mechanical breakdown insurance.
Travelers: Best for High-Risk Drivers in Mississippi
- Average Monthly Minimum-Coverage Rate: \$45
- Average Monthly Full-Coverage Rate: \$147
- Why Choose Them: Travelers consistently offers some of the most affordable rates for Mississippi drivers, especially those with a recent history of accidents or other serious infractions.
Finding the Cheapest Car Insurance
While the companies listed above offer competitive rates, the “cheapest” option will vary depending on your individual circumstances. Factors that influence car insurance rates include:
- Age and Driving Experience: Younger drivers and those with less experience typically pay higher premiums.
- Driving Record: Accidents, tickets, and DUIs can significantly increase your rates.
- Credit Score: Insurers often use credit scores to assess risk, with lower scores resulting in higher premiums.
- Location: Rates vary by city and even neighborhood due to factors like traffic density, theft rates, and weather patterns.
- Vehicle Type: The make and model of your car can affect your insurance costs.
To find the absolute cheapest car insurance for you, it’s essential to compare quotes from multiple companies.
How to Get the Best Car Insurance Rates in Mississippi
Here are some practical tips for lowering your car insurance premiums in Mississippi:
- Shop Around: Get quotes from at least three different insurance companies.
- Increase Your Deductible: A higher deductible (the amount you pay out-of-pocket before insurance kicks in) typically results in lower premiums.
- Bundle Your Insurance: Many insurers offer discounts if you bundle your car insurance with other policies, such as home or renters insurance.
- Take Advantage of Discounts: Ask about available discounts for safe driving, good students, military personnel, and more.
- Maintain a Good Credit Score: Improving your credit score can lead to lower insurance rates.
- Consider Usage-Based Insurance: Some companies offer discounts based on your driving habits, tracked through a mobile app or device.
Understanding Minimum Coverage vs. Full Coverage Costs
On average, Mississippi drivers pay \$49 per month for minimum coverage and \$202 per month for full coverage. While minimum coverage may seem appealing due to its lower cost, it’s important to weigh the potential risks of being underinsured. The cost difference between minimum and full coverage can be a worthwhile investment for the added protection it provides.
Car Insurance Costs by Mississippi City
Where you live in Mississippi can impact your car insurance rates. For instance, drivers in Gulfport pay a higher average than those in Blue Springs. Below is a sample of car insurance costs by city.
* Abbeville: \$46 average monthly minimum coverage, \$189 average monthly full coverage
* Aberdeen: \$43 average monthly minimum coverage, \$189 average monthly full coverage
* Ackerman: \$43 average monthly minimum coverage, \$193 average monthly full coverage
The Impact of Driving History
A clean driving record can significantly lower your car insurance rates. Conversely, a history of accidents, tickets, or DUIs will likely result in higher premiums.
High-Risk Driver Rates:
- USAA: \$49 minimum coverage with an accident, \$63 with a DUI, \$41 with a speeding ticket, \$41 with a texting-while-driving ticket
- Farm Bureau: \$64 minimum coverage with an accident, \$90 with a DUI, \$64 with a speeding ticket, \$52 with a texting-while-driving ticket
- Geico: \$66 minimum coverage with an accident, \$128 with a DUI, \$48 with a speeding ticket, \$43 with a texting-while-driving ticket
- Travelers: \$58 minimum coverage with an accident, \$63 with a DUI, \$55 with a speeding ticket, \$63 with a texting-while-driving ticket
Making an Informed Decision
Choosing the best car insurance company in Mississippi requires careful consideration of your individual needs and circumstances. By understanding the state’s requirements, exploring your coverage options, comparing quotes, and taking advantage of available discounts, you can find a policy that provides adequate protection at a price you can afford. Don’t hesitate to consult with an insurance agent to discuss your specific situation and get personalized recommendations. Remember, adequate car insurance is an investment in your financial security and peace of mind.
