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Cheapest car insurance in Mississippi for 2023
State Farm and USAA are among the cheapest car insurance providers in MS, according to Bankrate’s analysis
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The cheapest car insurance companies in Mississippi
When looking for Mississippi car insurance savings, it may take some effort to find the best choice for your own circumstances. Bankrate's team looked at average rates for both state-mandated minimum coverage ($446 per year), as well as full coverage ($1,771 per year), which typically includes collision and comprehensive insurance. Here are the cheapest companies in Mississippi across a range of driver profiles, according to 2023 rate data from Quadrant Information Services.
Key takeaways
- Cheapest company for minimum coverage: State Farm
- Cheapest company for full coverage: USAA
- Cheapest companies for drivers with prior incidents: State Farm and USAA
- Cheapest companies for young drivers: Nationwide, State Farm, USAA and Progressive
Compare auto insurance rates
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Cheapest car insurance in Mississippi for minimum coverage
The average annual premium for minimum coverage in Mississippi is $446, but several companies have lower average rates. Minimum coverage requirements vary by state and must be fulfilled to legally hit the road. For drivers on the strictest budgets, State Farm and USAA are among the carriers with the lowest annual average premiums in Mississippi, per Bankrate’s research.
| Carrier | Monthly min coverage premium | Annual min coverage premium | Savings vs state avg. for min coverage |
|---|---|---|---|
|
$25
|
$298
|
- $148 |
|
|
$26
|
$315
|
- $131 |
|
|
$33
|
$391
|
- $55 |
|
|
Mississippi Farm Bureau
|
$34
|
$406
|
- $40 |
|
$42
|
$501
|
+ $55 |
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Minimum coverage requirements for Mississippi drivers
Mississippi’s minimum auto insurance requirements for residents include:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability per accident
When searching for the cheapest auto insurance in Mississippi, it might be tempting to purchase liability-only coverage, which is available for an average cost of $446 per year. However, if you can afford it, most insurance agents recommend getting more coverage for additional financial protection.
For instance, if an accident you cause involves injury to multiple people but you only have $50,000 in bodily injury coverage per accident, you may end up paying out of pocket to cover medical expenses that surpass that limit. Plus, liability insurance only covers other drivers’ property damage and medical expenses — not yours. For that, you’ll need collision and comprehensive coverage, also called full coverage insurance.
Cheapest car insurance in Mississippi for full coverage
Full coverage auto insurance covers damage caused by a variety of scenarios. There are a number of companies offering full coverage in Mississippi at rates that cost less than the state average. Savvy consumers can save as much as $400 a year or more by shopping around and comparing quotes from multiple companies.
| Carrier | Monthly full coverage premium | Annual full coverage premium | Savings vs state avg. for full coverage |
|---|---|---|---|
|
$110
|
$1,324
|
- $447 |
|
|
Mississippi Farm Bureau
|
$116
|
$1,395
|
- $376 |
|
$116
|
$1,395
|
- $376 |
|
|
$126
|
$1,506
|
- $265 |
|
|
$142
|
$1,699
|
- $72 |
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Cheapest car insurance in Mississippi for drivers with prior incidents
Drivers with speeding tickets, at-fault accidents and other incidents on their driving records may encounter much higher rates for car insurance than drivers with clean records. Since car insurance companies calculate rates differently based on how they weigh various rating factors, one of the best ways to mitigate high premiums is to gather quotes from several carriers. Be sure to request quotes for similar types of coverage and policy limits to ensure you’re making an apples-to-apples comparison.
Based on Bankrate’s research, drivers with less-than-perfect records could benefit from starting their search for cheap car insurance in Mississippi with the following companies:
- Cheapest car insurance for drivers with a ticket: State Farm
- Cheapest car insurance for drivers with an at-fault accident: State Farm
- Cheapest car insurance for high-risk drivers: USAA
Cheapest insurance companies for drivers in Mississippi with a speeding ticket: State Farm
Getting a speeding ticket may indicate to insurers that you engage in risky driving behavior. This is why most carriers raise rates for a driver with a speeding ticket conviction on their record. While most tickets only affect your insurance rates for three to five years, depending on the insurance company, it may be worth it to shop around and compare quotes after a speeding ticket.
The following carriers offer some of the lowest average rates for drivers with a single spending ticket conviction:
| Company | Avg annual min coverage premium | Avg annual full coverage premium |
|---|---|---|
| State Farm | $337 | $1,598 |
| USAA | $412 | $1,717 |
| Mississippi Farm Bureau Insurance | $452 | $1,504 |
| Nationwide | $453 | $1,707 |
| Progressive | $580 | $2,170 |
Cheapest car insurance for drivers in Mississippi with an at-fault accident: State Farm
You are likely to see your insurance rates increase after an at-fault accident unless you have an accident forgiveness endorsement on your policy. This is because accidents can lead to costly insurance claims. Even a single accident may lead your carrier to see you as a riskier driver.
These insurers offer some of the most affordable average car insurance rates for Mississippi drivers after an accident:
| Company | Avg annual min coverage premium | Avg annual full coverage premium |
|---|---|---|
| State Farm | $406 | $1,810 |
| USAA | $514 | $2,021 |
| Mississippi Farm Bureau Insurance | $563 | $1,815 |
| Nationwide | $615 | $2,138 |
| Allstate | $703 | $3,404 |
Cheapest car insurance in Mississippi for high-risk drivers: USAA
Each insurer has its own definition of what constitutes a high-risk driver. Generally, you could end up in this group if you have multiple tickets, moving violations or at-fault accidents on your record. A DUI is one of the most serious infractions; even a single conviction could put you in the high-risk category. Although some insurers won't write policies for a driver with a DUI on their record, others may be willing to work with you — though you will likely pay significantly higher rates as a result.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| USAA | $641 | $2,608 |
| Progressive | $660 | $2,155 |
| Safeway | $770 | $2,359 |
| Mississippi Farm Bureau Insurance | $790 | $2,322 |
| Safe Auto | $861 | $3,272 |
Bankrate’s take: Not all companies will insure a driver with a DUI on their record. Drivers who are able to secure insurance coverage after such an incident may see a rate hike of 50 percent or more. Mississippi requires SR-22 documentation from your insurance company following a DUI conviction, but not all insurance carriers offer as much. If your license has been suspended after a DUI, you may need to switch insurance companies in order to acquire an SR-22 and get back on the road legally.
Cheapest car insurance for young drivers in Mississippi
Age is a major factor insurers use when calculating car insurance rates in many states, including Mississippi. For teens and young adults, cheap car insurance can be especially hard to come by. Comparing quotes from several providers can mean significant savings.
- Cheapest car insurance for insuring a teen driver: Nationwide
- Cheapest car insurance for teens with a ticket: State Farm
- Cheapest car insurance for teens with an at-fault accident: USAA
- Cheapest car insurance for young drivers with a DUI: Progressive
Cheapest Mississippi car insurance for insuring a teen driver: Nationwide
It may be challenging to find cheap insurance in Mississippi if you have a teen driver on your policy. However, some carriers offer cheaper coverage for young drivers than others. Certain car insurance companies offer discounts for teens who enroll in safe driving or telematics programs, and students with good grades may score additional savings.
The following insurers typically have some of the best cheap auto insurance in Mississippi for policyholders with teen drivers in their families.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| Nationwide | $626 | $2,195 |
| Mississippi Farm Bureau Insurance | $685 | $1,884 |
| State Farm | $729 | $2,667 |
| Allstate | $923 | $4,290 |
| USAA | $951 | $3,088 |
Bankrate’s take: Teen drivers have less experience behind the wheel and are statistically more likely to be involved in accidents than other age groups. The increased likelihood of young drivers filing claims can hike rates for all drivers under 20. Average premiums in the table above were determined based on a 16-year-old driver being added to their 40-year-old married parents’ policy.
Cheapest Mississippi car insurance for teens with a ticket: State Farm
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| State Farm | $972 | $3,789 |
| USAA | $1,062 | $4,020 |
| Mississippi Farm Bureau Insurance | $1,220 | $2,980 |
| Allstate | $1,531 | $8,030 |
| Nationwide | $1,647 | $4,936 |
Cheapest Mississippi car insurance for teens with an at-fault accident: USAA
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| USAA | $1,118 | $4,074 |
| State Farm | $1,170 | $4,420 |
| Mississippi Farm Bureau Insurance | $1,521 | $3,657 |
| Allstate | $1,642 | $8,449 |
| Nationwide | $1,701 | $5,361 |
Bankrate’s take: Mississippi is an at-fault or tort state, meaning the driver responsible for a collision must compensate the other party for their losses. This includes bodily injury and property damage.
Cheapest Mississippi car insurance for young drivers with a DUI: Progressive
Young drivers with a DUI on their record may have the hardest time of any demographic group when it comes to locating cheap auto insurance coverage. Shopping around is essential to securing the lowest possible rate. Progressive and USAA tend to offer some of the cheapest average annual premiums to this group of drivers.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| Progressive | $959 | $3,143 |
| USAA | $1,045 | $4,213 |
| Allstate | $1,115 | $5,476 |
| Nationwide | $1,378 | $4,587 |
| Safeway | $1,390 | $4,009 |
Cheapest car insurance rates by city in Mississippi
One of the factors that insurance companies take into consideration when determining premiums in Mississippi is your ZIP code. Although the state's average cost of car insurance is below the national average, rates could differ dramatically depending on where you live (among other factors).
Some of the cheapest cities to insure a vehicle may include those with less busy roadways, low crime rates, a low cost of living and mild weather patterns. Below are some of the cheapest cities in Mississippi for both full coverage and minimum coverage car insurance.
| City | City average annual minimum coverage premium | Cheapest car insurance company | Company average annual minimum coverage premium |
|---|---|---|---|
| Biloxi | $520 | State Farm | $351 |
| Gulfport | $531 | State Farm | $361 |
| Hattiesburg | $451 | State Farm | $305 |
| Jackson | $518 | State Farm | $366 |
| Southaven | $500 | State Farm | $368 |
| City | City average annual minimum coverage premium | Cheapest car insurance company | Company average annual minimum coverage premium |
|---|---|---|---|
| Decatur | $374 | State Farm | $215 |
| Union | $376 | State Farm | $234 |
| Little Rock | $377 | State Farm | $222 |
| French Camp | $378 | State Farm | $219 |
| Amory | $378 | State Farm | $221 |
Car insurance discounts in Mississippi
Most insurers offer at least a handful of discounts that may help drivers save money on their policies. To ensure that you are getting all the discounts you qualify for, it may be a good idea to review available discounts from your carrier regularly to see if you are eligible for any new savings opportunities.
Some of the most common discounts include:
- Young driver discounts: Young driver discounts may take several forms. Common options include savings for maintaining a high GPA, leaving your car at home while away at college and affiliation with a partnered university or student organization.
- Safe driver discounts: Taking a defensive driving course and remaining claims-free for a set period of time may earn you a discount. You may also save money if you participate in your insurer's telematics program.
- Other discounts: Discounts vary considerably by carrier. Some other common options include billing discounts like savings for paying your premium in full and safety feature discounts, which may lower your premium if your vehicle has airbags, automatic braking and so on.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction. Young driver DUI rates are for 21-year-old drivers on their own policy; other young driver incident rates are for 18-year-old drivers on their own policy.
Teens: Rates were determined by adding a 16-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.
Age: Rates were calculated by evaluating our base profile with the ages 18 and 21 applied. Drivers are renters on their own policy. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.