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 2023
State Farm, USAA and Nationwide are writing some of the cheapest car insurance policies in Mississippi
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation of . Our content is backed by Coverage.com LLC, a licensed entity (NPN: 19966249). For more information, please see our
What To Know First
Looking for cheap car insurance in Mississippi? Bankrate can help. Our insurance editorial team, which includes licensed property and casualty agents, compared average rate data from dozens of carriers in the Magnolia State to determine who had the best — and cheapest — auto insurance. In addition to average premiums, we also analyzed third-party rankings for customer service and financial stability, as well as coverage options, discounts and digital tools. The cheapest car insurance carriers across a range of driver profiles include:
- Cheapest company for minimum coverage: State Farm
- Cheapest company for full coverage: USAA
- Cheapest company for adding a teen driver: Nationwide
- Cheapest company after a speeding ticket conviction: State Farm
- Cheapest company after an at-fault accident: State Farm
- Cheapest company after a high-risk incident: State Farm
On This Page
- The cheapest car insurance companies in Mississippi
- The cheapest car insurance companies in Mississippi by coverage level
- Cheapest cities in Mississippi for car insurance
- Factors that impact rates in Mississippi
- Minimum coverage requirements for Mississippi drivers
- How to get the cheapest car insurance in Mississippi
- Car insurance discounts in Mississippi
- Frequently asked questions
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 as well as full coverage, which 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.
Cheapest company in Mississippi for minimum coverage
Average monthly minimum coverage premium | Average annual minimum coverage premium | |
---|---|---|
State Farm | $25 | $298 |
Cheapest car insurance in Mississippi for full coverage
Average monthly full coverage premium | Average annual full coverage premium | |
---|---|---|
USAA | $110 | $1,324 |
Cheapest car insurance company for adding a teen driver
Average monthly minimum coverage premium | Average annual minimum coverage premium | |
---|---|---|
Nationwide | $52 | $626 |
Cheapest company for getting a speeding ticket in Mississippi
Average monthly minimum coverage premium | Average annual minimum coverage premium | |
---|---|---|
State Farm | $28 | $337 |
Cheapest company for being in an at-fault accident in Mississippi
Average monthly minimum coverage premium | Average annual minimum coverage premium | |
---|---|---|
State Farm | $34 | $406 |
Cheapest company after a high-risk incident in Mississippi
Average monthly minimum coverage premium | Average annual minimum coverage premium | |
---|---|---|
State Farm | $40 | $482 |
The cheapest car insurance companies in Mississippi by coverage level
Minimum coverage in Mississippi is available at an average cost of $446 per year, while full coverage has an average annual cost of $1,771. These rates are below the national annual averages of $622 for minimum and $2,014 for full coverage. Although minimum coverage is typically the cheapest option, it does not offer coverage for your own vehicle, so most insurance experts recommend purchasing full coverage if you can afford to do so.
Insurance company | Average monthly minimum coverage premium | Average annual minimum coverage premium | Annual savings vs. State average* |
---|---|---|---|
State Farm
4.2
Bankrate Score
|
Average monthly minimum coverage premium
$25
|
Average annual minimum coverage premium
$298
|
Annual savings vs. State average*
- $148 |
USAA
4.3
Bankrate Score
|
Average monthly minimum coverage premium
$26
|
Average annual minimum coverage premium
$315
|
Annual savings vs. State average*
- $131 |
Nationwide
3.9
Bankrate Score
|
Average monthly minimum coverage premium
$33
|
Average annual minimum coverage premium
$391
|
Annual savings vs. State average*
- $55 |
Mississippi Farm Bureau
|
Average monthly minimum coverage premium
$34
|
Average annual minimum coverage premium
$406
|
Annual savings vs. State average*
- $40 |
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.
*Based on policies with minimum coverage for 2023
Insurance company | Average monthly full coverage premium | Average annual full coverage premium | Annual savings vs. State average* |
---|---|---|---|
USAA
4.3
Bankrate Score
|
Average monthly full coverage premium
$110
|
Average annual full coverage premium
$1,324
|
Annual savings vs. State average*
- $447 |
Mississippi Farm Bureau
|
Average monthly full coverage premium
$116
|
Average annual full coverage premium
$1,395
|
Annual savings vs. State average*
- $376 |
State Farm
4.2
Bankrate Score
|
Average monthly full coverage premium
$116
|
Average annual full coverage premium
$1,395
|
Annual savings vs. State average*
- $376 |
Nationwide
3.9
Bankrate Score
|
Average monthly full coverage premium
$126
|
Average annual full coverage premium
$1,506
|
Annual savings vs. State average*
- $265 |
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.
*Based on policies with full coverage for 2023
Cheapest cities in Mississippi for car insurance
One of the factors that insurance companies take into consideration when determining premium rates in Mississippi is your ZIP code. Although the state's average cost of car insurance is below the national average, some areas of the state may see average rates that differ dramatically from the state average. 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 local 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 |
---|---|---|---|
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 |
City | City average annual full coverage premium | Cheapest car insurance company | Company average annual full coverage premium |
---|---|---|---|
Sturgis | $1,601 | State Farm | $1,163 |
Guntown | $1,608 | Mississippi Farm Bureau | $1,132 |
Saltillo | $1,609 | Mississippi Farm Bureau | $1,189 |
Maben | $1,614 | State Farm | $1,172 |
Artesia | $1,619 | Mississippi Farm Bureau | $1,216 |
Factors that impact cheap rates in Mississippi
Where you live is not the only factor that can affect your car insurance rates in Mississippi. Your rates may fluctuate based on the drivers on your policy, the vehicles you insure and more. The cheapest company for you may vary based on these personal rating factors.
Insuring a teen driver
It may be challenging to find cheap insurance in Mississippi if you have a teen driver on your policy. Teen drivers have less experience behind the wheel and are statistically more likely to be involved in accidents than other age groups. However, some carriers may offer cheaper coverage for young drivers than others. The following insurers are writing some of the best cheap car insurance in Mississippi for policyholders with a teen driver in their family.
Car insurance company | Average annual minimum coverage premium | Average 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 |
Getting a speeding ticket
Getting a speeding ticket may indicate to insurers that you engage in risky driving behavior. This is why most carriers raise rates for drivers with a speeding ticket conviction on their record. While most tickets only affect your insurance rates for three to five years, depending on the carrier, 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.
Car insurance company | Average annual minimum coverage premium | Average 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 |
Getting into an at-fault accident
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, so even a single accident may lead your carrier to see you as a riskier driver. These insurers offer some of the lowest average insurance rates for Mississippi drivers after an accident.
Car insurance company | Average annual minimum coverage premium | Average 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 |
Being deemed a high-risk driver
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 drivers with DUIs on their record, others may be willing to work with you, though you will likely pay significantly higher rates as a result.
Car insurance company | Average annual minimum coverage premium | Average annual full coverage premium |
---|---|---|
State Farm | $482 | $2,056 |
USAA | $641 | $2,608 |
Progressive | $660 | $2,155 |
Mississippi Farm Bureau Insurance | $790 | $2,322 |
Minimum coverage requirements for Mississippi drivers
Mississippi’s minimum auto insurance requirements for residents include:
- $25,000 bodily injury per person
- $50,000 bodily injury per accident
- $25,000 property damage per accident
When searching for the cheapest auto insurance in Mississippi, it might be tempting to only purchase minimum coverage, which is available for an average cost of $446 per year. However, most insurance agents recommend getting more coverage if you can afford it to offer additional financial protection, including coverage for your own vehicle. For instance, if a vehicle accident you cause involves injury to multiple people but you only have the $50,000 bodily injury coverage per accident, then this amount might not cover medical expenses for everyone. You would be financially responsible for the difference.
How to get the cheapest car insurance in Mississippi
Some insurance pricing factors, like your age and ZIP code, may not be easily manipulatable. However, other factors are more within your control. If you are wondering how to save on car insurance in Mississippi, these tactics may help.
Maintain a clean driving record
Few factors impact your premium rate as much as your driving history. As we noted above, everything from a speeding ticket to a DUI may cause an increase in your rate. If you have a clean driving record, your insurer is likely to reward you with a preferential rate. You may also be able to earn good driver discounts, including those from telematics programs, which monitor your driving in real-time and adjust your premium accordingly.
Improve your credit score
In Mississippi, your insurer will likely check your credit history when determining your rate. If you have a high credit score, you will likely see lower insurance rates as you have demonstrated that you can pay bills on time and in full. Insurers also typically see drivers with a strong credit history as less likely to file insurance claims, especially for minor damage.
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: