Best car insurance in Mississippi for 2023

Best car insurance companies in Mississippi

Bankrate has access to exclusive average premium data from analytics company Quadrant Information Services, and based on our research, the average full coverage premium in Mississippi is $1,771 per year; the annual minimum coverage premium is $446. However, car insurance companies in Mississippi can use more than a dozen rating factors to calculate your rate. As such, you could be paying more or less than the average. Still, you might use this information as a touchstone when requesting quotes.

Price is important, but it’s not the only consideration when looking for a company you can trust. To round out our search, we also reviewed third-party customer service scores reported by the J.D. Power 2022 U.S. Auto Insurance Study, complaints lodged with the National Association of Insurance Commissioners (NAIC) and more. After our in-depth study, we found USAA, Progressive, State Farm, Nationwide and Allstate could be the best in Mississippi, depending on your needs.

How Bankrate chose the best car insurance companies in Mississippi 

To find the best auto insurance in Mississippi, Bankrate first analyzed average premium data provided by Quadrant Information Services. Although we know price is important, our time as licensed agents has taught us that the cheapest car insurance company doesn’t always provide the best coverage or service. For this reason, we created our proprietary Bankrate Scoring method.

Bankrate Scores range from 0.0 to 5.0, and the higher a company’s score, the better it fared. To issue these scores, we reviewed metrics like digital tool availability, coverage options, corporate sustainability and more. We hope our Bankrate Scores give our readers a simple, comprehensive way to evaluate insurance companies while they compare rates.

How much is car insurance in Mississippi?

The average annual cost of a full coverage policy in Mississippi is $1,771, with minimum coverage averaging $446. This may be good news for Mississippians, as these rates are lower than the national average of $2,014 and $622, respectively.

Average Mississippi rates are lower than average compared to some nearby states, too, including Alabama and Louisiana. In Alabama, a full coverage policy costs, on average, $1,843; minimum coverage is about $441. As the third-most expensive state for car insurance (behind Florida and New York), Louisiana is an outlier. Here, the average rate for full coverage is an eye-popping $2,909 per year, with the average for minimum coverage at $805. Although Mississippi gets its fair share of severe weather, it may not present as much flood or hurricane risk as its neighbors, possibly leading to lower rates.

How to find the best car insurance in Mississippi

With so many different carriers to choose from, it can be hard to know where to start if you’re looking for the best car insurance in Mississippi. You might want to keep the following considerations in mind, as they could keep you on the path to finding the coverage that can best fit your needs.   

Consider minimum insurance requirements in Mississippi

In almost every state, drivers must carry a minimum level of liability insurance to drive legally on public roads, and Mississippi is no exception. Although it’s impossible to purchase a Mississippi auto insurance policy with limits under the state minimum requirements, knowing how much insurance you need to comply with the law can give you a benchmark when shopping around. It’s also important to keep in mind that most insurance agents recommend drivers consider purchasing above the state minimum coverage for better financial protection. 

Consider lender requirements

When you finance or lease a car, you’ll likely need to carry comprehensive and collision to meet the terms of your loan or lease agreement. Drivers who lease will probably have a minimum liability insurance requirement to meet, too. Because your finance or leasing company has an insurable interest in your car, they want to be sure that if you’re involved in an accident, the vehicle will be repaired (remember, your lender technically owns your car until you pay it off). Before you purchase your policy, reviewing the terms of your loan or lease can be a good idea — failure to meet your lender’s requirements could lead to pricey force-placed insurance. 

Consider your individual needs

The best car insurance policy is one that is tailored to your needs. To accomplish this, you might want to think about how your individual circumstances could impact your coverage choices. For instance, Mississippi was the number one worst state for tornadoes in 2022. Because of the state’s above-average tornadic activity, drivers might want to add comprehensive coverage to bolster themselves financially against weather-related claims. Or, perhaps you have a newly-licensed driver in your household. In that case, you might want to look for a company that offers multiple teen driver discounts.

Frequently asked questions