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Mississippi Auto Insurance

Mississippi is a tort state with regard to auto insurance laws. What that means is that the state requires drivers who cause an accident to carry insurance to pay for damages to health and property.

Mississippi Auto Insurance Coverage Requirements

Mississippi state law requires drivers carry minimum liability coverage of at least 25/50/5. This means that Mississippi auto insurance liability coverage will pay $25,000 for each person hurt and up to $50,000 for all people involved in an accident. This also means Mississippi car insurance coverage will pay $5,000 for any damage to property. Although Mississippi doesn’t require collision, comprehensive, or uninsured motorist bodily injury protection, it is advisable to protect yourself and your vehicle.

Mississippi Auto Insurance Premiums

A recent survey of national auto insurance costs showed that Mississippi ranked 31st in average annual premiums. On average, Mississippi drivers paid $709.45 for a year of coverage. More specifically, Mississippi residents paid $390.44 for liability coverage, $294.59 for collision coverage, and $168.11 for comprehensive coverage.

How do insurance carriers figure individual premium costs? The companies use a formula to calculate individual premiums based on two sets of factors. First, they calculate the cost of providing coverage to the state of Mississippi as a whole. This includes such variables as:

  • Total cost of operations
  • Costs of lawsuits
  • Amount of claims in the prior year
  • Number of traffic accidents in the previous year

Next, the insurers calculate individual risk factors for drivers. Some of these factors include:

  • The driver's age
  • Driving record, including tickets and accidents
  • Make and model of vehicle, including safety options
  • Location of residence
  • Marital status
  • Credit rating

All of these variables are then combined into complex formulas to determine individual rates. Most insurers use the same set of variables, but they may determine risk differently based on those variables. This can have a major impact in premiums from one company to the next.

Mississippi Auto Insurance Companies

Because Mississippi auto insurance rates can fluctuate so much from carrier to carrier, you should always comparison shop regularly to make sure you're not overpaying for coverage.

Additional Mississippi Auto Insurance Information and Resources

Mississippi Insurance Department
P.O. Box 79
Jackson, MS 39205
Phone: (601) 359-3569

For other Mississippi Insurance Resources, See:

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