Searching for car insurance is certainly easier in the Digital Age, but getting the lowest possible premium requires some extra effort. There are numerous factors to consider when comparing auto insurance companies in Mississippi—from their formula for calculating premiums to the discounts they offer to their customer reviews.
Read on to learn a few facts you should know before buying car insurance in Mississippi:
1. The Minimum Liability Coverage In Mississippi Is 25/50/25
Each state has its own minimum car insurance requirements. In Mississippi, all drivers must carry auto insurance that includes $25,000 for bodily injuries to one person, $50,000 for total bodily injuries per accident, and $25,000 for property damage.
Of course, buying the cheapest possible insurance policy comes with inherent risks. To help you save time and avoid financial ruin, our Geeks compared auto insurance quotes from several companies in Mississippi to find the lowest rates for drivers who want 50/25/100 liability limits (slightly higher than the state’s minimum requirement) and the same limits in uninsured/underinsured motorist coverage. You can see the results of our study here.
2. No-Fault Insurance Is Not Required
Some states require drivers to carry no-fault car insurance, which would cover damages no matter who caused the crash. In Mississippi, though, drivers are not required to carry no-fault insurance, but it is available. As a general rule, it is a good idea to carry medical payments coverage (the type of no-fault insurance offered in Mississippi) and uninsured/underinsured motorist coverage with the same coverage levels as your liability coverage.
Buying UM coverage could help you avoid overwhelming debt after a collision with an un/underinsured driver.
3. You May Qualify For Discounts (But Only If You Ask Your Insurer)
Be sure to ask the prospective insurance company if you qualify for any discounts. Most insurance companies offer discounts for safe drivers, or those who haven’t been involved in any recent accidents or cited for any traffic infractions. You may also qualify for lower premiums if you’re a good student or if you own a vehicle that has modern safety features.
4. There Are Dozens of Factors That Affect Your Car Insurance Rate
Car insurance rates in Mississippi are based on driving history, the make and model of your vehicle, credit report, age, and dozens of other factors. Additionally, you will have to pay more for insurance if your car has a high rate of claims in your area. So before you buy a vehicle, it’s a good idea to check the National Insurance Crime Bureau to see the top-10 most stolen cars in each state.
5. Mississippi Has A High Percentage Of Uninsured Motorists
Mississippi has the third highest percentage of uninsured drivers in the nation. Twenty-three percent of motorists in the state were uninsured in 2012, according to a report from the Insurance Research Council. Thus, you should consider buying uninsured/underinsured motorist coverage, which will cover your damages if you are involved in a collision with an uninsured driver or with a driver whose insurance limits are not sufficient to cover your losses.
6. “High-Risk Drivers” Can Purchase An Alternative Insurance Plan
Insurance companies consider “high-risk drivers” to be those with several traffic violations or accidents. If insurance companies refuse to cover you, consider getting a policy through the Mississippi Automobile Insurance Plan. This should be an option as long as you have a valid Mississippi driver’s license and your car is registered in the state. Insurance policies purchased through this plan, however, are likely to come with higher rates than average.
Clearly, there are many factors to consider before you purchase auto insurance in Mississippi. But if you’re armed with the facts above, you’ll be in a better position to find the right policy for your needs and budget.