Mississippi Auto Insurance Requirements
Mississippi is in the process of enacting a robust system for verifying that all drivers are covered by auto insurance. Minimum auto insurance coverage requirements in Mississippi are mandated by state law and the Mississippi Insurance Department. The following minimum coverage is required on every registered vehicle, except as noted below:
(Source: Mississippi Insurance Department)
Driving without the mandatory liability insurance in Mississippi will result in a $1,000 fine for a first offense, and suspension of driving privileges until financial responsibility can be shown. Subsequent offenses are subject to higher fines, reinstatement fees, and jail time.
The Mississippi Automobile Insurance Plan is available to drivers who are unable to obtain required coverage through the voluntary market. More information is available on the AIPSO website.
Factors Influencing Car Insurance Premiums in Mississippi
Getting a quote for cheap car insurance in Mississippi requires some research and rate comparisons between different insurance companies, since Mississippi ranks as one of the most expensive states for car insurance costs. Some factors that impact insurance rates in Mississippi include:
• Mississippi is not a “no-fault” state, and does not require PIP insurance
• Vehicle repair costs are generally less expensive in Mississippi than elsewhere
• Overall accident fatality rates are much higher than national averages
• Mississippi has the highest estimated percentage of uninsured drivers (28%) in the country.
• Auto insurance fraud
• Vehicle theft rates above national averages
The average auto insurance premium for residents in Mississippi is $1,896 in 2011; the national average is $1,790.
Tips for Obtaining Cheap Car Insurance in Mississippi
• If you’re over 55, take a state-approved defensive driving course for a policy discount
• Several insurance companies offer “pay as you drive” car insurance for low mileage drivers in Mississippi
• Maintain a good driving record
• Bind multiple policies (homeowners, life, auto) with the same provider
• Maintain a good credit score
• Create a personal “emergency fund” of up to $1500 and increase deductibles accordingly
• Discuss affinity discounts with your insurance provider
• Drop comprehensive and collision insurance on older vehicles
Mississippi Statistics
• Auto Theft: Mississippi has a relatively high vehicle theft rate, but it has been decreasing (as is the case in most states) consistently over the past 10 years. This can be attributed primarily to anti-theft devices being standard on recent model cars, as well as public awareness of the issue:
(Source: Auto Thiefs)
• Automobile Accidents: The total vehicle miles traveled in Mississippi decreased significantly between 2008 and 2009, but vehicle accident fatality rates have remained fairly constant. Mississippi is well above the national average in numbers of deaths in car crashes.
(Source: National Highway Traffic Safety Administration)
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