It tops several charts in a good and bad way. It is the state with the cheapest living costs in the USA. Also, it has the highest Uninsured Drivers ratio at 26% and it does not mandate coverage against them. But wouldn’t you think it is a must if you are going to drive in the Magnolia State. It doesn’t look like premium costs are the main reason for low policy take-ups, as the rates don’t appear to be bad at all. If affordability is the issue, there will be a few tips on how to get cheap automobile insurance in Mississippi further down.
Probably the answer to why there are too many drivers with no coverage is in the overall wealth of its residents. It is one of the poorest states in the country. Actually, it has been named the poorest several times. Unfortunately financial difficulties will affect the choice of policies and in fact the decision to buy it or not. In case anyone is wondering buying auto insurance helps people in many ways and it isn’t just for complying with the laws.
MS has one of the lowest automobile ownership rations in the US, with about 580 cars per capita.
It is not a densely populated state. The largest city is Jackson with only around 180,000 residents. This creates a problem for the authorities that don’t have enough people to tax. Roads may not be looked after as good as you would expect in America. This will in turn increase accidents and premiums.
Mississippi Vehicle Insurance Laws
Minimum liability requirements are;
- $25,000 for bodily injury or death per person.
- $50,000 total for bodily injury or death per accident.
- $25,000 for property damage.
Also there is a $1,000 fine for driving with no coverage and license suspensions even though this does not seem to deter people shunning away from buying a basic policy. It is always questionable as to how well fines work in convincing people to stay within laws. You can read the commissioner’s guide here for further information and up to date requirements. You can also check who is licensed to sell policies or find out about vehicle registration on this website.
It is clear that Mississippians would appreciate better-priced car insurance companies the most. There isn’t really a secret to finding them. You just need to know what to do to increase the chances and how to go about it. There are a few obvious saving opportunities based on driving and claim records, credit history and vehicle type. When you can manage to bag those savings you can reduce the premium substantially. But you must also avoid getting surcharges because of traffic tickets or recent claims. Once they show on records moving violation tickets increase insurance.
You may think that they will automatically offer you those discounts and therefore you don’t need to do anything. This would be a mistake as each would apply a different percentage for each type of qualification. So, you need to keep checking which company will offer you the best deals in current circumstances. For example, one may offer a 25% discount for good credit score and only 20% for having great driving records. This may be fine by you if you have a great credit score. If you have a clean history but a poor score this may not be for you. Then, you would be looking for companies that offer the biggest discounts for clean records.
Another reason for often checking for alternative quotes is that they change their rate structures quite often. A company that was offering the best prices can lose its competitiveness overnight with newcomers taking its place. By shopping around and getting a few quotes you would be able to find the right one for your needs. It is more like a trial and error method, as you need to keep at it until you find exactly what you are looking for.
Automobile Insurance Rates in Mississippi
They aren’t particularly expensive on their own and in comparison to the rest of the US. However, they are burdensome in relation to wages and other expenses. So, premiums can stick out like a sore thumb in household budgets and worry people. It is difficult to see how this would improve when you know 1/4 of motorists don’t bother buying a policy. This means that people who buy compensate for the people who don’t by paying for the damages they caused as well, directly through Uninsured Motorist or Collision coverage and indirectly by levies applied by carriers.
The state has one of the lowest average incomes and one of the cheapest living costs. Average car insurance cost in Mississippi is $768 and below the national number of $841. People can get reasonably priced full coverage quotes too, as the average estimate is $1,277 and lower than the country average of $1,325. These figures are given as indication to see if you have a fair premium. If you have had recent claims or traffic tickets you should expect to spend a little bit more than the average. But it can be a lot cheaper if you have been driving for years without a glitch.
Inexpensive Auto Insurers in Mississippi
One of the first things you should do to get good rates is to find the cheapest sources. This task is now easier since we listed 3 of the lowest priced companies below. These are consistently the cheapest across most cities. The premiums are nicely gathered around the state average with no city sticking out much, including Jackson.
- ALFA, $846
- GEICO, $968
- Unitrin, $1,005
Remember that this is not a definitive list for several reasons. First of all, these prices are for good drivers with experience and for basic coverage. You may have to spend a lot more if you want better protection or have a bad record. However, there are more affordable quotes for nearly everyone. You just need to look around a bit more if you are struggling to pinpoint them. Considering that it is a repetitive expense it certainly is worth searching for better deals online and offline.