Car insurance rates in Mississippi are right in the middle when compared to the rest of the country. The state’s average landed just a few dollars above the national average for 2017. While state averages can give you an idea of how Mississippi ranks compared to other states, each individual’s rates can vary – that makes shopping around very important, and the best auto insurance companies in the state are a good place to start.
The Basics of Auto Insurance in Mississippi
Mississippi car insurance laws are in place to make sure that everyone on the road is financially responsible for injuries or damages they cause as the result of a car accident. The law states that all drivers in Mississippi must carry at least $25,000 per person and $50,000 per incident for bodily injury coverage, as well as $50,000 in property damage coverage.
The law allows drivers to post a bond or make a cash deposit in an amount that equals these limits as an alternative to car insurance. There are no requirements for any other type of coverage.
Mississippi drivers that have either a loan or a lease on their vehicle will need to check with their lender to find out what requirements they have for car insurance. Generally, comprehensive coverage and collision coverage are required, and there may be a cap on the amount of the deductibles.
Specifics of Mississippi Auto Insurance
Mississippi is not a no-fault state, and that means that drivers can be taken to court and sued for damages following a car accident. The state allows lawsuits for injuries, death, pain, and suffering, and property damage, and the amount awarded may exceed the limits of an insurance policy – especially a legal minimum policy.
In the event that you are found at fault in an accident, your insurance company will only pay out the limits of the policy. After that, you will be held financially responsible for any excess. A serious accident will quickly exceed the limits of a bare minimum policy, which makes taking out higher limits, to begin with, a smart choice in Mississippi.
Mississippi drivers are looking to save on their car insurance costs, and we kept that in mind when choosing our top picks. All of our choices offer competitive rates, although the company with the best rate for any one individual driver can differ from the best pick for another.
Since rates are not the whole picture, we also looked for companies that match their great prices with great service. All of the companies that made our list rank well on consumer reports from trusted sources. They also have a good reputation based on our own review of customer comments. Vital to making our list is not just good customer service in general, but specifically good claims service.
We selected companies that offer insurance to all Mississippi drivers, with coverage available across the state and no specific requirements for eligibility. That means that while USAA ranked very well for service and price in the state, the fact that they are only open to military members and their families means a large number of people cannot get coverage there. Our choices are intended to be helpful to the largest possible section of the population.
Our Top Picks
These three car insurance companies all made the grade for great customer service along with competitive rates for Mississippi drivers.
It is not a surprise that Geico tops our list of the best for Mississippi drivers, as they have risen to the number two spot nationwide for car insurance on a solid reputation and great rates. Geico ranks in the top five for the region on J.D. Power’s customer satisfaction survey and has a good track record for taking care of customers.
Geico is also one of the least expensive options for car insurance in Mississippi, consistently offering low rates even for drivers with a less than perfect record. That earns them our stamp of approval for great value.
More drivers choose State Farm than any other insurance company, both in Mississippi and nationwide. That fact tends to speak for itself, and State Farm earns good marks in terms of customer service to back it up.
State Farm is also surprisingly affordable; in spite of their captive agent system that usually means higher premiums, State Farm consistently has competitive rates. Again, that all adds up to good value.
While Nationwide is known for higher premiums in our usual sample areas, in Mississippi they are much more competitive. They are even a good bet for younger drivers or those with less than perfect credit.
They also rank highly for customer satisfaction and have a good reputation for handling claims, and they have lots of discounts available. That includes bundling discounts, and with their long list of available products, bundling is easy.
Shopping for Car Insurance in Mississippi
Before shopping for car insurance, you will need to decide what kind of coverage you want to carry. While the bare minimum is all you need to be legal, it’s a smart idea to carry a higher amount of coverage. Increasing your liability limits does not usually cost much more, and it is well worth the cost when you face a serious accident.
There is more to consider as well. Mississippi has one of the highest rates of uninsured drivers in the nation – as of 2015 the state was number two with 23.7% of drivers on the road illegally. Not only does this behavior cause insurance costs to rise, but it also puts those drivers who do adhere to the law at risk of having no recourse if an uninsured driver causes an accident. Uninsured and underinsured motorist coverage can help to protect you, and in a state with such a high percentage of uninsured drivers, it is well worth adding to your policy.
It is important to be sure that you know exactly what coverage you want and that every quote you get follows the same outline. That will ensure that the rates you get are all apples to apples and a fair comparison. If you do not tell the insurance company what you want, they will likely quote you with their standard levels and the premium may not be comparable to those of other companies.
In Mississippi, big-name companies are often the best bet, but not always. Make sure you compare as many rates as you can from highly rated companies both large and small so that you can feel confident you have found the best value for your needs.
The Bottom Line
Mississippi has a big problem with uninsured drivers, and one of the best ways to combat that (and the rate hikes it causes) is making sure you are always adequately insured. That means protecting yourself against both liability risks and the risk of being involved in an accident with someone that has chosen not to follow the law. Fortunately, Mississippi drivers have some excellent choices in car insurance, including the biggest names in the business, with competitive rates.
For a list of companies that we recommend, visit our Best Insurance Companies page.