How Much Is Car Insurance in Mississippi? Rates by Coverage Level, Age, Driving History and Location

Mississippi drivers spend an average of $1,112 per year on car insurance, which is among the cheapest in the country. It is also cheaper than the $1,424 national average. MoneyGeek compared averages from various insurers and locations for one sample driver. This guide breaks down averages by coverage level, location, age, driving history and credit score.

Loading...

The average car insurance cost in Mississippi is $1,112 annually. This is based on auto insurance costs for a 40-year-old driver with full coverage and a clean driving record.

For an auto insurance policy that only meets the minimum coverage required in Mississippi, the same 40-year-old driver would pay an average of $523 per year. Actual prices can vary widely depending on individualized factors. Adding a young driver to a full coverage policy would result in an average cost of $3,203 per year.

To help you see how Mississippi car insurance rates can change, MoneyGeek broke down averages by various factors.

Average Cost of Car Insurance in Mississippi: Summary

MoneyGeek evaluated average car insurance costs based on the factors that have the most impact on policy rates in the state.

The most significant factors that affect Mississippi car insurance rates are the driver’s age and credit score.

Click to learn more about average costs based on driver profile.

Average Costs of Car Insurance in Mississippi

Scroll for more

swipe icon

Why are Car Insurance Rates Cheap in Mississippi?

MoneyGeek found that Mississippi is among the top 20 states with the cheapest car insurance rates in the country due to low traffic density, low urban share of its total population and low risks for natural disasters.

Mississippi ranked 48th in terms of shares of urban populations with 49%, which means it has one of the lowest shares. Urban areas tend to have higher car insurance rates due to more congestion and accidents.

Additionally, the state has a low highway traffic density. It ranks 33rd among all states. It also has a lower disaster risk compared to other states.

Average Cost of Car Insurance in Mississippi: Full Coverage vs. Minimum Coverage

The average cost of full coverage car insurance in Mississippi, as defined by MoneyGeek’s methodology, is $1,112 per year, while a minimum policy costs an average of $523 annually. That is a $589 difference.

Auto insurance rates will vary greatly depending on how much coverage you buy. Choosing to have liability coverage only will be a cheaper option. If you choose full coverage insurance, which includes comprehensive and collision coverages, you will be paying more.

Average Cost of Car Insurance in Mississippi by Coverage Level

Minimum vs. Full Coverage Car Insurance Costs in Mississippi - By Company

The insurance provider you choose will affect auto insurance costs. Each company calculates premiums differently and will give you varying rates.

For cheap liability-only auto insurance, USAA is the most affordable option in Mississippi. However, its policies are only available to military families. The cheapest widely available option based on average rates is GEICO.

USAA is also the cheapest option for full coverage. But for non-military families looking for cheap full coverage car insurance, the most affordable option is Travelers.

Based on average rates, the company with the most expensive rates for both liability-only and full coverages is MetLife.

Average Annual Costs of Car Insurance in Mississippi - By Company

Scroll for more

swipe icon
Loading...

How Much Is Car Insurance in Mississippi by Age

Age will have an impact on average car insurance costs in Mississippi. Young drivers tend to have higher rates since insurers consider them risky and more likely to have accidents.

A 40-year-old driver buying a policy pays $1,112 annually on average. A 16-year-old could pay an annual average rate of $3,203. This is a $2,091 difference.

Young drivers looking to save money on insurance premiums can do so by opting to be added to their parent’s car insurance policy.

Typically, first-time drivers are treated the same as young drivers in Mississippi and will get similar rates.

Average Costs of Full Coverage Car Insurance in Mississippi - By Age

Scroll for more

swipe icon
  • Age
    Annual Premium
  • $3,203
  • $3,054
  • $2,680
  • $2,748
  • $2,342
  • $1,850
  • $1,724
  • $1,511
  • $1,406
  • $1,263
  • $1,148
  • 40
    $1,112
  • $1,062

How Does Driving History Affect Car Insurance Costs in Mississippi?

High-risk drivers, such as those with traffic violations on record or who have been in road accidents, pay more for car insurance in Mississippi than drivers with a clean record. For example, a driver with a clean driving record pays an average of $1,112 per year. Having a speeding ticket increases that average rate by $258 for a total of $1,370 per year.

That said, drivers with a bad driving record can still find affordable auto insurance in Mississippi by shopping around.

Average Costs of Full Coverage Car Insurance in Mississippi - By Driving History

Scroll for more

swipe icon
  • Driving Violation
    Annual Premium
  • Safe Driver
    $1,112
  • Speeding Ticket
    $1,370
  • At-Fault Accident
    $1,768
  • DUI
    $1,953

Credit Scores and the Cost of Car Insurance in Mississippi

Credit score has a significant role in determining Mississippi car insurance rates. Having a good to excellent credit score can help you save on auto insurance.

Individuals with a poor credit score in Mississippi pay an average of $1,867 per year, which is $755 more than the rate for people with a good credit score. Meanwhile, those with excellent credit scores pay an average of $194 less than a person with a good credit score.

A poor credit score will result in higher premium rates. But you can still find affordable options for drivers with bad credit in Mississippi.

Average Costs of Full Coverage Car Insurance in Mississippi - By Credit Score

Scroll for more

swipe icon
  • Credit Score
    Annual Premium
  • Excellent
    $906
  • Good
    $1,100
  • Fair
    $1,310
  • Below Fair
    $1,544
  • Poor
    $1,867

How Much Is Car Insurance in Your City?

MoneyGeek used car insurance rates from the city of Jackson for this analysis.

Generally, the cost of auto insurance can vary greatly within a state due to different factors. Insurance companies evaluate individual circumstances and consider the location.

Drivers pay higher premiums if they live in more densely populated cities with a higher chance of road accidents or natural disasters. Those residing in cities with higher theft and vandalism rates also tend to have more expensive car insurance plans.

Average Costs of Full Coverage Car Insurance in Mississippi - By City

Scroll for more

swipe icon

Frequently Asked Questions About Mississippi Car Insurance Rates

Here are some of the most commonly asked questions about Mississippi car insurance rates.

Methodology

For this study, MoneyGeek collected car insurance quotes across Mississippi in collaboration with Quadrant Information Services. The average rates are based on policies for a 40-year-old driver with a clean driving record and full coverage unless altered by the factors described above, including coverage levels, age, driving violations and credit score. The full coverage policy limits are described on MoneyGeek’s methodology page.

MoneyGeek also used data on traffic density, percentage of uninsured motorists, urban share of population and motor vehicle theft rates.

  • Highway traffic density was calculated with 2019 data from the Federal Highway Administration
  • Data on uninsured motorists was drawn from 2019 data from the Insurance Research Council
  • Urban share of population was calculated using the latest data from the U.S. Census Bureau
  • Data on motor vehicle theft rate was drawn from the FBI Crime in the United States Report for 2019

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.