Finding the cheapest car insurance in Mississippi is possible whether you are down by the Gulf Coast, up in Tupelo or anywhere in between. All it takes is a little research and comparison shopping to find the cheapest coverage in the Magnolia State. There are over 2 million licensed drivers in Mississippi, and as of 2018, 6.1 percent of insured filed collision claims. These factors are important to consider when searching for insurance so you can find a company that is reputable for paying claims.
The state ranks highest in the nation for the number of fatal crashes, the majority of which occurred from not being properly restrained. Despite this, it is still possible for residents to secure cheap auto insurance in Mississippi while adhering to the state’s minimum coverage requirements. The average cost of car insurance in Mississippi is $429 per year for minimum coverage and lands at $1,714 per year for full coverage.
The cheapest car insurance in Mississippi
The rates between carriers are as varied as the 29,000 miles of maintained roads you find in Mississippi. Here are the cheapest options from the top companies by market share in Mississippi according to 2021 rate data.
|Car insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
|Southern Farm Bureau||$368||$1,333|
USAA provides current members of the military family, veterans and their eligible family members with access to cheap car insurance in Mississippi. If you meet the eligibility requirements, USAA provides the least expensive rates, starting at $274 per year for minimum coverage.
USAA provides lower prices through a variety of discounts for military families. There are the typical provider discounts, such as multi-policy and multi-vehicles. But other premium discounts are available such as good student, safe driving and driver training. Your premiums are further lowered as you increase the number of years of service.
Learn more: USAA Insurance review
State Farm is another option for cheap average rates on auto insurance. State Farm is ideal for MIssissipians who want to manage a policy via an app, website, agent or customer service number — no matter how little you pay in premiums.
State Farm also features a wide range of discounts to help you save further, including the popular Drive Safe and Save program and Steer Clear. State Farm offers additional discounts for loyal customers, good students and safe vehicle options.
Learn more: State Farm review
Southern Farm Bureau
Farm Bureau is a great choice for good coverage and cheap rates. The company offers discounts for being a safe driver, maintaining a claims-free record and for bundling multiple policies. They also offer a unique opportunity to policyholders through their Farm Bureau Member’s Choice program. When you bundle home and auto, you may qualify for a single deductible that extends to both policies.
Progressive is another carrier to review for cheap insurance options. The popular Name Your Price tool allows you to build your policy based on your budget, while taking advantage of as many discounts as possible. Discounts are available in a variety of categories, from safe driving to good student. There are even potential discounts for obtaining your quote online and being affiliated with certain clubs and alumni groups.
Learn more: Progressive insurance review
A trusted company for many insureds, Allstate also has many potential discounts to provide. While Allstate has the highest average price for drivers in Mississippi, there are those who can still take advantage of their discounts and find a reasonable rate, and it still qualifies as one of the cheapest auto insurance companies in Mississippi. Allstate the typical multi-car and bundling discounts, but the provider also may offer savings to those who choose to pay their premium in full, set up paperless billings.
Learn more: Allstate review
Minimum coverage for Mississippi drivers
Mississippi’s minimum auto insurance requirements for residents includes:
- $25,000 bodily injury per person
- $50,000 bodily injury per accident
- $25,000 property damage per accident
In addition, every driver must carry proof of coverage at all times. This proof of coverage must be shown at the request of any law enforcement official or fines are incurred.
When searching for the cheapest auto insurance in Mississippi, it might be tempting to only purchase the minimum coverage. However, many insurance agents recommend getting more coverage if you can afford it in case you are in a situation where your coverage limits are not enough. For instance, if the 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 cheap car insurance in Mississippi
You may be able to find cheap car insurance in Mississippi by using a few strategies to access lower rates:
- Get several quotes: Getting multiple quotes is ideal to get the lowest premiums. Not only do you compare providers and discounts, but you also compare coverage options head-to-head.
- Ask about discounts: Taking advantage of any and all discounts you are eligible for is another best practice for getting the lowest rates possible. While some discounts are more readily available, such as multi-policy and multi-line, there may be lesser-known options too. Ask the carrier what it has available.
- Increase your deductible: Increasing your deductible is another tactic for lowering premiums. If you take more of the cost burden by raising your deductible, your premiums will be lower. However, your out of pocket expenses will be higher before your insurance provider helps with claims, so consider carefully is this is a good option for your situation.
- Work on your credit score: Finally, improving your credit score makes an impact on the amount of your premiums. Monitoring your report for mistakes, paying your bills on time and keeping your credit utilization low are a few practical ways to improve your score — and potentially lower your premiums.
Frequently asked questions
What is the best car insurance in Mississippi?
While there are many factors that determine if a carrier is the best, there are a few carriers that stand out based on financial ratings, customer service and competitive rates. However, individuals will have their own priorities that will determine which carrier is best for them.
What is the average cost of car insurance in the U.S.?
The average cost of minimum coverage car insurance in Mississippi is $429, while full coverage averages $1,714. When you compare this to the national average of $563 for minimum coverage and $1,738 per year for full, Mississippi falls right into the average, ranking 19th in highest premiums.
Can I switch auto insurance companies at any time?
Yes, you can switch auto insurance companies at any time, but before you switch, understand if there are any penalties for ending your coverage before your renewal period. It is also wise to have your new coverage in place before you cancel your old policy, so there is no lag time where you do not have coverage.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. 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 coverages that meet each state’s requirements. Our base profile drivers own a 2019 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.