Mississippi Car Insurance Guide – Forbes Advisor

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It is important to have the right auto insurance in Mississippi. Mainly because about 24% of car owners in Mississippi don’t have auto insurance. If an uninsured driver runs into you, you can try to prosecute them. But a better bet is to have a good Mississippi car insurance. Here’s how to get good coverage.

The largest auto insurance companies in Mississippi

Mississippi’s auto insurance landscape is dominated by one player: State Farm, which has nearly a quarter of the market share. Progessive and Southern Farm Bureau arrives at # 2 and # 3.

5 Biggest Auto Insurance Companies in Mississippi

Minimum auto insurance required in Mississippi

You must wear automobile liability insurance in Mississippi. This is essential coverage that covers property damage and personal injury you cause to others. It also pays for legal defense if someone files a lawsuit against you because of a car accident.

Mississippi car owners must purchase liability insurance with limits of at least:

  • $ 25,000 for bodily injury to a person
  • $ 50,000 for bodily injury to more than one person in an accident
  • $ 25,000 for property damage in an accident

You will see this written as 25/50/25.

It is a good idea to purchase liability limits that are higher than the amount required. If you cause an accident with multiple injuries, medical bills could quickly exceed minimum policy limits and you could be sued for the rest. It pays to purchase sufficient liability insurance to protect your assets and savings.

What else should I have?

Coverage for uninsured / underinsured motorists. Coverage for uninsured motorists (UM) pays medical bills if you are hit by a driver who does not have auto liability insurance. Underinsured Motorists (UIM) coverage is similar and can be used if you are hit by a driver who does not have enough insurance to cover the injuries of others.

Mississippi auto insurance companies are required to offer UM / UIM insurance, but you can decline them in writing. In general, these are good types of coverage to have.

Medical payments (MedPay). This coverage covers medical and funeral expenses for you and your passengers for injuries sustained in a car accident, regardless of who caused the accident.

Collision and full coverage. These types cover your car repairs for a wide range of issues, such as car crashes, riots, hail, floods, fires, falling objects, vandalism, and collisions with animals. Comprehensive coverage also pays for auto theft.

If you are renting your car or have a loan, the leasing company or lender will likely require you to have both collision and comprehensive coverage.

Put it all together

Can I show my insurance ID card from my phone?

Mississippi drivers can use cell phones to show auto insurance ID. Many auto insurers have mobile apps that include access to this proof of insurance. And you don’t have to keep track of a hard copy.

Average auto insurance premiums in Mississippi

Mississippi drivers pay an average of $ 859 per year for auto insurance. Here are the average premiums for common types of coverage.

Factors Allowed In Mississippi Auto Insurance Rates

In addition to a driving record, previous claims, and vehicle model, Mississippi auto insurance companies can use these factors to calculate rates.

How many uninsured drivers are there in Mississippi?

About 24% of Mississippi drivers do not have auto insurance, according to the Insurance Research Council. It is the second highest rate of uninsured drivers in the United States, behind Florida. This is why it is good to have your own insurance to cover the problems of uninsured drivers, including MedPay, collision insurance and / or coverage for uninsured motorists.

Penalties for driving without automobile insurance

If you’re caught driving in Mississippi without auto insurance, you could be fined $ 1,000 and have your driving privileges suspended for a year (or until you can show proof of insurance).

When can a vehicle be totaled?

Mississippi insurance companies can declare a car a total loss if the cost of repairs exceeds the value of the car, unless it is 10 years of age or older, if the car is worth $ 1,500 or less, or if it needs to be replaced by five. or fewer minor components.

Solving insurance issues

The Mississippi Department of Insurance regulates insurance companies and takes consumer complaints. If you have an unresolved issue with an auto insurance company, you can file a complaint online.

About Sally Dominguez

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