How Much Is Car Insurance in Mississippi? (June 2024)


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ByMark Fitzpatrick
Reviewed byMark Friedlander
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ByMark Fitzpatrick
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Reviewed byMark Friedlander
Edited byDenise Cristobal
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Updated: June 19, 2024

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Mississippi drivers pay around $1,077 per year for full car insurance coverage. Minimum coverage has an average annual cost of $477.

Various factors determine your car insurance premium. These factors include your age, the level of coverage you choose, where you live, your driving record and your credit history. Remember that a clean driving record and good credit can lead to more affordable car insurance plans.

Why Trust MoneyGeek? We analyzed data and quotes from Quadrant Information Services and the Mississippi Insurance Department to get the most precise average costs for a variety of Mississippi drivers.

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These rates reflect the average cost of car insurance in Mississippi as of June 2024.

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19ZIP Codes

Average Car Insurance Costs in Mississippi

The average cost of full coverage car insurance in Mississippi is $1,077 per year. Knowing the average cost of car insurance helps determine if you're getting a fair quote from providers. By comparing car insurance quotes, you can ensure your choice is affordable and suitable for your needs.

Review our guide on Mississippi auto insurance costs. These numbers show what you might pay monthly or annually for minimum or full coverage insurance.

100/300/100 Full Cov. w/$1,000 Ded.Average Annual Premium$1,077Average Monthly Premium$90
100/300/100 Liability OnlyAverage Annual Premium$573Average Monthly Premium$48
State Minimum Liability OnlyAverage Annual Premium$477Average Monthly Premium$40

Why Are Car Insurance Rates Moderate in Mississippi?

Car insurance in Mississippi is relatively affordable compared to the national average cost of car insurance. Mississippi's average annual premium for the state minimum coverage is $477 or about $40 per month. This rate is less expensive than the nationwide average for minimum coverage, which is around $573 per year or $48 per month.

Mississippi's affordable rates can be attributed to various factors, including lower population density, which often results in fewer accidents and claims. The cost of repairs and health care is also generally lower in Mississippi compared to other states, leading to lower insurance payouts and cheaper insurance premiums for residents.

Average Car Insurance Costs in Mississippi by Company

Car insurance premiums can vary widely from one company to another, even within the same state. Mississippi Farm Bureau offers the most affordable full coverage insurance at an annual cost of $775. Shelter has the most expensive premium at around $1,459 per year for the same coverage.

It's important to compare car insurance quotes from various providers to secure the cheapest car insurance in Mississippi. Shopping around ensures you don't lose significant savings for your vehicle's protection.

Data filtered by:Results filtered by:
Coverage:
Coverage:Full Coverage
Age Group:
Age Group:30-59
Mississippi Farm BureauAnnual Premium$775Monthly Premium$65
NationwideAnnual Premium$799Monthly Premium$67
Direct General InsuranceAnnual Premium$804Monthly Premium$67
State FarmAnnual Premium$853Monthly Premium$71
TravelersAnnual Premium$1,017Monthly Premium$85
AllstateAnnual Premium$1,233Monthly Premium$103
GEICOAnnual Premium$1,355Monthly Premium$113
ProgressiveAnnual Premium$1,401Monthly Premium$117
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Average Car Insurance Costs in Mississippi by Coverage Level

The cost of car insurance in Mississippi is also influenced by the level of coverage you choose. Opting for minimum coverage costs around $40 monthly, whereas 100/300/100 full coverage with a $1,000 deductible averages $90 per month. Despite the higher price, full coverage insurance is recommended because it offers more comprehensive protection in case of extensive damages or losses.

While adding comprehensive and collision coverage to your policy increases your premium, you can offset the rate increase by choosing higher deductibles. Remember, the deductible applies individually to each comprehensive and collision coverage event.

State Minimum Liability OnlyAverage Annual Premium$477Average Monthly Premium$40
100/300/100 Liability OnlyAverage Annual Premium$573Average Monthly Premium$48
300/500/300 Liability OnlyAverage Annual Premium$652Average Monthly Premium$54
State Minimum Liability w/ Full Cov. w/$1,500 Ded.Average Annual Premium$895Average Monthly Premium$75
State Minimum Liability w/ Full Cov. w/$1,000 Ded.Average Annual Premium$981Average Monthly Premium$82
100/300/100 Full Cov. w/$1,500 Ded.Average Annual Premium$991Average Monthly Premium$83
300/500/300 Full Cov. w/$1,500 Ded.Average Annual Premium$1,070Average Monthly Premium$89
100/300/100 Full Cov. w/$1,000 Ded.Average Annual Premium$1,077Average Monthly Premium$90

Minimum Car Insurance Requirements in Mississippi

In Mississippi, the minimum car insurance requirements include $25,000 for bodily injury liability per person, $50,000 per accident and $25,000 for property damage liability per accident. Uninsured/underinsured motorist coverage, personal injury protection (PIP), medical payments and death liability are not mandated.

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    $25,000 for bodily injury liability per person

    This is the minimum amount required in Mississippi to cover medical expenses for one person injured in an accident you cause.

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    $50,000 for bodily injury liability per accident

    This represents the total minimum coverage in Mississippi for all injuries in an accident where you are at fault.

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    $25,000 for property damage liability per accident

    In Mississippi, this is the minimum amount for covering damages to another person's property in an accident you're responsible for.

Average Car Insurance Costs in Mississippi by Age

Age affects car insurance costs in Mississippi, with drivers aged 22 to 29 typically facing the steepest premiums. However, costs gradually decrease for older age groups as experienced motorists tend to encounter fewer accidents.

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
22-29Average Annual Premium$1,344Average Monthly Premium$112
30-59Average Annual Premium$1,077Average Monthly Premium$90
60 +Average Annual Premium$969Average Monthly Premium$81

Average Car Insurance Costs in Mississippi for Teens

In Mississippi, age and gender significantly affect car insurance rates. The average annual cost for adding a 16-year-old male to a family car insurance policy is $2,665, the highest premium among all age groups.

Notably, teens under 18 typically cannot legally purchase car insurance without a guardian's co-signature. If a 16-year-old male opts for an individual policy, the premium jumps to $5,520.

Data filtered by:Results filtered by:
Gender:
Gender:Male
16Added to Family Policy Premium$2,665Individual Premium$5,520
17Added to Family Policy Premium$2,652Individual Premium$4,895
18Added to Family Policy Premium$2,161Individual Premium$4,028
19Added to Family Policy Premium$1,933Individual Premium$2,908
20Added to Family Policy Premium$1,949Individual Premium$2,503
21Added to Family Policy Premium$1,576Individual Premium$1,990
22Added to Family Policy Premium$1,480Individual Premium$1,826
23Added to Family Policy Premium$1,521Individual Premium$1,601

Average Car Insurance Costs in Mississippi for New Cars

The average annual cost for full coverage on a 2012 car model is $946, while the same coverage for a 2022 model raises the rate to $1,146 per year. Newer models attract higher insurance premiums due to their greater actual cash value, pricier repair costs and higher risk of theft.

Drivers with newer models should consider securing comprehensive and collision coverage. These coverages ensure protection against various incidents, safeguarding your investment in the event of accidents, natural disasters or theft.

Data filtered by:Results filtered by:
Coverage:
Coverage:Full Coverage
Age Group:
Age Group:30-59
2012 VehicleAnnual Premium$946Monthly Premium$79
2022 VehicleAnnual Premium$1,146Monthly Premium$95
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ACTUAL CASH VALUE

Your vehicle's actual cash value (ACV) is the primary factor used by your insurance to determine the payout amount for comprehensive or collision claims. The ACV reflects your car's market value, considering depreciation at the time of the loss. This calculated ACV helps ensure that insurance settlements are fair and align with your vehicle's current worth.

Average Car Insurance Costs in Mississippi by Driving Record

The average cost of car insurance in Mississippi varies based on your driving record. Here's what you might expect to pay:

  • With a ticket: $1,351 per year; $113 per month
  • With an at-fault accident: $1,755 per year; $146 per month
  • With a DUI: $2,037 per year; $170 per month

In Mississippi, more severe violations mean higher car insurance payments. Violations stay on your record and affect your premiums for years. For example, a DUI in Mississippi stays on your record for five years.

The table below shows the average cost of car insurance in Mississippi by coverage level and age group.

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
Age Group:
Age Group:30-59
CleanAverage Annual Premium$1,077Average Monthly Premium$90
TicketAverage Annual Premium$1,351Average Monthly Premium$113
At-fault AccidentAverage Annual Premium$1,755Average Monthly Premium$146
DUIAverage Annual Premium$2,037Average Monthly Premium$170

Average Car Insurance Costs in Mississippi by Credit Score

Mississippi drivers can expect to pay anywhere from $707 to $1,758 per year for car insurance, depending on their credit score. A good credit score ranges from 670 to 739 and could significantly lower your car insurance rates. The annual cost for good credit is about $836, while a lower score could drive your costs much higher.

Understanding that your credit score can impact your car insurance rates is key. Higher scores often lead to more affordable premiums because insurers view a higher credit score as an indicator of financial responsibility and lower risk.

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 w/ $1000 Deductible
Age Group:
Age Group:30-59
ExcellentAnnual Premium$707Monthly Premium$59
GoodAnnual Premium$836Monthly Premium$70
FairAnnual Premium$1,050Monthly Premium$87
Below FairAnnual Premium$1,315Monthly Premium$110
PoorAnnual Premium$1,758Monthly Premium$147
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Factors Affecting Car Insurance Rates in Mississippi

Understanding what affects your car insurance rates in Mississippi is essential for finding the right coverage. Here are the key factors:

  • Driving Record: A clean driving record can lead to more affordable car insurance premiums. Speeding tickets, accidents and DUIs typically raise rates due to higher risk.

  • Age and Gender: Younger drivers, especially males, often face higher rates due to statistically higher accident rates. However, rates tend to become more favorable as drivers age.

  • Vehicle Type: The make, model and age of your vehicle can impact your rate. High-value or sports cars may have higher premiums due to repair costs and theft rates.

  • Coverage Level: Opting for state minimum coverage can be cheaper upfront but offers less protection. Adding comprehensive insurance or collision insurance raises costs but provides broader coverage.

  • Credit Score: Mississippi insurers may consider credit history when determining rates. A higher credit score could result in lower insurance costs.

  • Location: Urban areas with higher traffic density and theft rates might see increased premiums compared to rural areas.

  • Claims History: A history of claims can suggest to insurers that you're more likely to make future claims, potentially increasing your premiums.

  • Driving Habits: The more you drive, the higher the probability of an incident. Mississippi residents with long commutes or who drive frequently might see higher rates.

How to Save Money on Car Insurance in Mississippi

To get affordable car insurance in Mississippi, shop around for the best rates, raise your deductible and take full advantage of car insurance discounts.

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    Shop around for options

    Comparing quotes from multiple insurers can reveal the cheapest car insurance in Mississippi, potentially saving drivers a significant amount on premiums.

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    Maintain a clean driving record

    A driving record free of accidents and violations can lead to lower insurance rates as it indicates responsible driving behavior to insurers.

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    Consider your coverage needs

    Choosing the right coverage can help keep insurance costs affordable while providing essential protection.

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    Bundle insurance policies

    Bundling auto insurance with other policies like homeowners or renters insurance can lead to discounts, reducing the overall insurance costs.

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    Ask for discounts

    Insurers often offer various discounts for things like multiple cars, safety features or good student status. These rate reductions can make your policy more affordable.

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    Opt for a higher deductible

    Choosing a higher deductible can lower your premium. However, ensure you can afford the deductible in case of a claim.

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    Improve your credit score

    A good credit score can positively influence your car insurance rates, as insurers view it as an indicator of financial reliability.

FAQ: Car Insurance Costs in Mississippi

We answer frequently asked questions about the average cost of car insurance in Mississippi, factors that affect costs and how you can save on your premium.

What are the minimum car insurance requirements in Mississippi?
What is the average cost of full coverage and minimum coverage auto insurance in Mississippi?
What is the average cost of car insurance for a 22-year-old in Mississippi?
What are the cheapest car insurance companies in Mississippi?

About Mark Fitzpatrick


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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.