Mississippi is notoriously expensive when it comes to car insurance premiums. But you may still be able to find cost-effective policies by understanding how rates are calculated. At The Zebra’s experts have conducted extensive analysis on average rates in Mississippi to help drivers find an option that meets their budget needs. Read further to discover factors impacting rates then enter your zip code for personalized quotes from top providers.
Mississippi state minimum insurance requirements include $25,000 of bodily injury liability per person and $50k per accident in bodily injury coverage and $25k of property damage liability coverage per incident. Drivers can reduce costs by choosing to buy lower limits of liability or by adding other types of coverage, like comprehensive and collision. But keep in mind that more costly policies often carry higher risks; so before purchasing coverage it is wise to assess how much protection is truly required.
Insurance companies use numerous factors to assess risk and set premiums, such as your location, driving record, credit score and vehicle type. Some are more influential than others but no matter your circumstance you can take steps to improve your rate.
Your driving record is an integral component of your car insurance premium and should always remain spotless; thus making maintaining one so crucial. An accident or traffic violations on your record will increase costs significantly, as insurers want to be sure they can pay out claims, and having multiple claims would raise risk levels across their policiesholders.
Age can also play a factor in your car insurance rates and the coverage options you select. Younger drivers tend to have the highest premiums as they lack driving experience and experience. But as you grow older and maintain a clean driving record, your rates should go down over time.
Your vehicle also plays an impactful role in your auto insurance rates, since some models of cars require more costly repairs. When shopping for a new or used car, keep this factor in mind and shop with care so as to save both money and hassle down the line.
Consider Your Needs and Budget When Assessing Car Insurance in Mississippi It is also essential to factor in all other costs associated with owning and operating a vehicle, including fuel, maintenance and repair. It may turn out that these additional expenses outweigh what your policy premium covers!
Mississippi drivers typically pay an annual average car insurance cost of $1,607 – which is 5% higher than the national average. According to The Zebra’s analysis, location plays the single greatest role in determining Mississippi car insurance premiums; to assist drivers in finding affordable coverage we compared quotes from some of Mississippi’s most renowned insurers in order to find out who had the cheapest coverage and premiums – in particular those purchasing comprehensive and collision coverage that exceeded minimum limits set forth by Mississippi law.