How Much Is Car Insurance in Mississippi? (2023)

Factors such as your age, driving history, location, credit score, coverage level and choice of insurer can affect your car insurance costs in Mississippi. Among the insurers we analyzed, Direct General Insurance offers the cheapest full coverage policies at around $723 per year, while Shelter has the most expensive policies at roughly $1,319 per year. In addition, drivers in their 60s can expect to pay approximately $829 per year, while drivers in their 20s pay $1,153 per year on average.

In Mississippi, the cost of car insurance averages $917 per year. Several factors can affect insurance prices, such as coverage preferences and driving history.

Here are the average costs of auto insurance in Mississippi for different driving records:

• Clean record: $917 per year
• Speeding ticket: $1,183 per year
• Accident: $1,530 per year
• DUI: $1,775 per year

The above rates are for full coverage insurance. Choosing a minimum coverage policy will lower the rates.

Car insurance rates in Mississippi, averaging $917 per year, are close to the national average of $1,054 per year. The moderate cost of insurance in the Magnolia State could be attributed to factors like moderate traffic density, lower urban population density, affordable insurance providers and fewer occurrences of vehicle theft.

Nonetheless, if you find car insurance rates in Mississippi to be costly, it may be due to personal factors like age or driving history.

The cost of car insurance in Mississippi can differ significantly among insurance providers. Using only the state's average cost may not always be an accurate way to predict your potential premiums.

For example, Direct General Insurance provides the most affordable auto insurance in Mississippi for minimum coverage policies, costing $275 per year ($723 per year for full coverage). In contrast, Shelter has the highest premiums at $623 per year ($1,319 per year for full coverage).

In general, liability-only policies are less expensive than full coverage policies, but you can still get affordable full coverage insurance by comparing rates from various providers.

Choosing higher liability limits will result in a higher car insurance premium. In Mississippi, the average cost of car insurance varies from $392 per year for state minimum coverage to $1,070 per year for full coverage with the maximum liability limits.

Purchasing comprehensive and collision coverage will increase your premium by a few hundred dollars per year, but opting for a higher deductible can help you reduce your full coverage insurance costs.

The cheapest car insurance option available in Mississippi is a minimum coverage policy. However, this type of insurance excludes comprehensive and collision coverage and includes only the lowest possible liability limits.

Insurance providers usually offer policies with higher liability limits, such as 50/100/50 or 100/300/100. A policy with liability limits of 50/100/50 includes the following coverage:

• $50,000 bodily injury liability per person
• $100,000 bodily injury liability per accident
• $50,000 property damage liability per accident

Most companies set the maximum liability option at 300/500/300. Liability insurance only covers damages or injuries to others, so if you want coverage for damages to yourself or your vehicle, you need to add comprehensive and collision insurance — also known as a full coverage policy.

Your age can significantly impact your auto insurance premiums, especially if you are a young or inexperienced driver. Here are the average rates for a full coverage policy in Mississippi by age group:

• 22–29: $1,153 per year
• 30–59: $917 per year
• 60+: $829 per year

Drivers in their 20s usually pay higher rates than older adults. However, adult drivers over 30 may pay similar rates for car insurance if they are new drivers. Generally, rates remain relatively constant for people aged 30 to 60 and decline slightly as drivers age past 60.

Car insurance for teen drivers in Mississippi is much more expensive than for other age groups. The average insurance cost for a 16-year-old male on a family plan is $2,665 per year. Individual policy rates are pricier at $5,520 per year. However, in most cases, teens under 18 cannot legally purchase an individual plan without a parent or guardian to co-sign.

As teens age and gain more driving experience, insurance costs decrease significantly. For instance, a 19-year-old on a family plan pays an average of $1,993 per year, while a 22-year-old pays $1,480 per year. In many states, including Mississippi, rates can also vary considerably based on gender. For example, a family plan for a 16-year-old female costs around $2,450 per year, which is $215 lower than the rate for a male driver.

You can find affordable car insurance for Mississippi teenagers by shopping around and comparing offers from various providers.

In Mississippi, insuring a new car costs $1,146 per year, which is 21% more expensive than insuring an older car ($946 per year). This increased cost is due to new cars having higher actual cash value (ACV), repair costs and risk of theft.

When you file a comprehensive or collision claim, the payout is determined by your car's ACV. Since older cars generally have a lower ACV and therefore require smaller payouts, they are cheaper to insure than newer cars.

If you own a new car, it may be worth considering full coverage insurance. Unlike liability-only policies, full coverage insurance covers damages to your own vehicle, which can be substantial for newer cars with higher ACVs.

Drivers in Mississippi with traffic violations usually pay higher rates for car insurance than those with clean driving records. The average cost of car insurance in Mississippi varies based on driving history:

• Clean record: $917 per year
• Speeding ticket: $1,183 per year
• Accident: $1,530 per year
• DUI: $1,775 per year

The severity of the driving offense typically corresponds to the increase in costs. For instance, a DUI conviction leads to a higher insurance premium than a speeding ticket.

Comparing rates from multiple insurance providers is a good way to find affordable car insurance in Mississippi for drivers with offenses.

Your credit score can also have a significant impact on your car insurance costs in Mississippi. Drivers with poor credit pay $1,758 per year on average, whereas those with excellent credit pay only $707 per year.

The average car insurance costs in Mississippi based on credit score are as follows:

• Excellent: $707 per year
• Good: $836 per year
• Fair: $1,050 per year
• Below fair: $1,315 per year
• Poor: $1,758 per year

Some insurance companies may charge more than others for lower credit scores. If you're looking for affordable car insurance in Mississippi with poor credit, it's wise to compare rates from various insurers to make sure you're getting the best deal.

Car insurance premiums can vary depending on your location in Mississippi. For instance, drivers in Jackson pay around $962 per year for full coverage insurance, which is $45 more than the average insurance cost in the state. The slightly higher rates may be due to higher traffic and population densities in Mississippi's capital city than in other areas of the state.

Read on for MoneyGeek's answers to frequently asked questions about car insurance costs in Mississippi. Keep in mind that rates may differ based on personal details and statewide variations.