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The Best Cheap Car Insurance Companies for Mississippi Drivers in 2020

As in most states, there are a number of familiar insurance companies offering car insurance coverage in Mississippi. Shop for cheap insurance from five of the top insurance companies in the state listed below.

Company
Amount
1. USAA
In 2020, USAA ranked #1 in Mississippi for the cheapest car insurance on average.
$646
per year
2. Travelers
In 2020, Travelers ranked #2 in Mississippi for the cheapest car insurance on average.
$879
per year
3. Mississippi Farm Bureau
In 2020, Mississippi Farm Bureau ranked #3 in Mississippi for the cheapest car insurance on average.
$887
per year
4. GEICO
In 2020, GEICO ranked #4 in Mississippi for the cheapest car insurance on average.
$918
per year
5. State Farm
In 2020, State Farm ranked #5 in Mississippi for the cheapest car insurance on average.
$1,043
per year
6. Allstate
In 2020, Allstate ranked #6 in Mississippi for the cheapest car insurance on average.
$1,052
per year
7. Nationwide
In 2020, Nationwide ranked #7 in Mississippi for the cheapest car insurance on average.
$1,077
per year
8. MetLife
In 2020, MetLife ranked #8 in Mississippi for the cheapest car insurance on average.
$1,515
per year
9. Progressive
In 2020, Progressive ranked #9 in Mississippi for the cheapest car insurance on average.
$1,523
per year

Keep in mind these quotes are estimated rates for the average driver. For accurate car insurance quotes, you should speak with several Mississippi car insurance companies and ask for personalized quotes.

The Best Car Insurance Companies in Mississippi for 2020

To determine the best Mississippi car insurance companies, MoneyGeek relies on its unique rating system based on a combination of ratings from reputable outlets like JD Power and AM Best. Scores are out of 100, with each of the following weighted equally

These include JD Power’s customer satisfaction rankings as well as AM Best’s financial strength rating that looks at an insurer’s ability to pay claims. Other ratings look at affordability and how well and quickly claims are processed.

Expand all Rankings +

1

USAAScore: 95
+

4/5

User Satisfaction

5/5

Claims Ratings

4/5

Affordability

A++

Financial Stability

2

ErieScore: 92.5
+

4/5

User Satisfaction

5/5

Claims Ratings

4/5

Affordability

A+

Financial Stability

3

Auto-Owners Insurance CoScore: 90
+

4/5

User Satisfaction

3/5

Claims Ratings

4/5

Affordability

A++

Financial Stability

4

ALFAScore: 87.5
+

4/5

User Satisfaction

4/5

Claims Ratings

4/5

Affordability

A

Financial Stability

5

North Carolina Farm BureauScore: 87.5
+

4/5

User Satisfaction

4/5

Claims Ratings

4/5

Affordability

A

Financial Stability

6

GEICOScore: 85
+

3/5

User Satisfaction

3/5

Claims Ratings

3/5

Affordability

A++

Financial Stability

7

State FarmScore: 82.5
+

4/5

User Satisfaction

3/5

Claims Ratings

3/5

Affordability

A

Financial Stability

8

NationwideScore: 80
+

3/5

User Satisfaction

3/5

Claims Ratings

2/5

Affordability

A+

Financial Stability

9

TravelersScore: 80
+

2/5

User Satisfaction

3/5

Claims Ratings

2/5

Affordability

A++

Financial Stability

10

MetLifeScore: 80
+

2/5

User Satisfaction

3/5

Claims Ratings

3/5

Affordability

A+

Financial Stability


Market Share by Company

While there are five top familiar car insurance companies in Mississippi, the largest car insurance company is State Farm, which has 24.60% of the market share in the state.

Company
Market Share
1. State Farm
24.60%
2. Southern Farm Bureau
11.77%
3. Progressive
11.17%
4. Allstate
7.69%
5. Liberty Mutual
7.22%
6. GEICO
6.79%
7. USAA
5.49%
8. Nationwide
5.08%
9. ALFA
3.64%
10. Shelter
3.31%

Cheapest Car Insurance for Drivers With a DUI in Mississippi

The consequences of having a DUI in Mississippi could be up to 48 hours in jail plus fines ranging from $250 to $1,000. However, the financial cost could be higher due to legal expenses as well as higher car insurance rates.

Company
Amount
1. State Farm
In 2020, State Farm ranked #1 in Mississippi for the cheapest car insurance for drivers with a DUI.
$1,127
per year
2. USAA
In 2020, USAA ranked #2 in Mississippi for the cheapest car insurance for drivers with a DUI.
$1,138
per year
3. Travelers
In 2020, Travelers ranked #3 in Mississippi for the cheapest car insurance for drivers with a DUI.
$1,378
per year
4. Mississippi Farm Bureau
In 2020, Mississippi Farm Bureau ranked #4 in Mississippi for the cheapest car insurance for drivers with a DUI.
$1,463
per year
5. Allstate
In 2020, Allstate ranked #5 in Mississippi for the cheapest car insurance for drivers with a DUI.
$1,471
per year
6. Nationwide
In 2020, Nationwide ranked #6 in Mississippi for the cheapest car insurance for drivers with a DUI.
$1,781
per year
7. Progressive
In 2020, Progressive ranked #7 in Mississippi for the cheapest car insurance for drivers with a DUI.
$2,149
per year
8. GEICO
In 2020, GEICO ranked #8 in Mississippi for the cheapest car insurance for drivers with a DUI.
$2,926
per year
9. MetLife
In 2020, MetLife ranked #9 in Mississippi for the cheapest car insurance for drivers with a DUI.
$3,330
per year

The effects of a DUI could linger long after the legalities have been resolved, but that does not mean you cannot find cheap car insurance with a DUI in Mississippi. To find affordable insurance, you should talk with several Mississippi car insurance companies and get personalized quotes. Each company weighs the effects of a DUI differently, so shopping around could result in big savings.

Cheapest Car Insurance for MS Speeding or Distracted Driving Tickets

Speeding or distracted driving tickets can result in higher car insurance rates because many Mississippi car insurance companies see these drivers as a higher risk. The same holds true for drivers involved in accidents related to distracted driving. In 2018 in Mississippi, there were 597 accidents involving distracted driving.

Company
Amount
1. USAA
In 2020, USAA ranked #1 in Mississippi for the cheapest car insurance for distracted drivers.
$726
per year
2. Travelers
In 2020, Travelers ranked #2 in Mississippi for the cheapest car insurance for distracted drivers.
$1,031
per year
3. Mississippi Farm Bureau
In 2020, Mississippi Farm Bureau ranked #3 in Mississippi for the cheapest car insurance for distracted drivers.
$1,124
per year
4. State Farm
In 2020, State Farm ranked #4 in Mississippi for the cheapest car insurance for distracted drivers.
$1,127
per year
5. Allstate
In 2020, Allstate ranked #5 in Mississippi for the cheapest car insurance for distracted drivers.
$1,160
per year
6. GEICO
In 2020, GEICO ranked #6 in Mississippi for the cheapest car insurance for distracted drivers.
$1,187
per year
7. Nationwide
In 2020, Nationwide ranked #7 in Mississippi for the cheapest car insurance for distracted drivers.
$1,219
per year
8. Progressive
In 2020, Progressive ranked #8 in Mississippi for the cheapest car insurance for distracted drivers.
$1,952
per year
9. MetLife
In 2020, MetLife ranked #9 in Mississippi for the cheapest car insurance for distracted drivers.
$2,161
per year

The effects of a speeding or distracted driving ticket may disappear quickly for first-time offenders, but could last much longer for drivers with more than one of these tickets on their driving record. Therefore, to find cheap car insurance with a ticket in Mississippi, speak with several Mississippi car insurance companies and get personalized quotes. Each company evaluates tickets differently, so having a number of quotes could help you find cheap insurance.

Cheapest Car Insurance Companies in MS for Drivers With Bad Credit

Many Mississippi car insurance companies utilize credit scores in evaluating drivers who apply for car insurance quotes. The rule of thumb is, the higher the credit score, the lower risk the driver. In Mississippi, the average credit score is 667.

Company
Amount
1. USAA
In 2020, USAA ranked #1 in Mississippi for the cheapest car insurance for drivers with poor credit.
$1,120
per year
2. Nationwide
In 2020, Nationwide ranked #2 in Mississippi for the cheapest car insurance for drivers with poor credit.
$1,389
per year
3. GEICO
In 2020, GEICO ranked #3 in Mississippi for the cheapest car insurance for drivers with poor credit.
$1,437
per year
4. Travelers
In 2020, Travelers ranked #4 in Mississippi for the cheapest car insurance for drivers with poor credit.
$1,495
per year
5. Mississippi Farm Bureau
In 2020, Mississippi Farm Bureau ranked #5 in Mississippi for the cheapest car insurance for drivers with poor credit.
$1,520
per year
6. Allstate
In 2020, Allstate ranked #6 in Mississippi for the cheapest car insurance for drivers with poor credit.
$1,688
per year
7. State Farm
In 2020, State Farm ranked #7 in Mississippi for the cheapest car insurance for drivers with poor credit.
$2,003
per year
8. Progressive
In 2020, Progressive ranked #8 in Mississippi for the cheapest car insurance for drivers with poor credit.
$2,574
per year
9. MetLife
In 2020, MetLife ranked #9 in Mississippi for the cheapest car insurance for drivers with poor credit.
$2,801
per year

Although a low credit score can result in higher car insurance rates, this can be a temporary situation. By working to raise your credit score – a score of 700 or higher is considered a good score–you can take steps to reduce your car insurance rates. Seeking out personalized quotes from several Mississippi car insurance quotes can result in finding cheap insurance.

Cheapest Car Insurance Companies in Mississippi for Seniors

Although Mississippi does not have any driving restrictions for seniors, there is cause for their safety on the road. As senior drivers get older, their physical and mental capabilities may adversely affect their driving skills. In fact, according to the National Highway Traffic Safety Administration, in 2017 there were 133 fatal traffic crashes involving drivers ages 65 and older. This could affect car insurance rates for seniors.

Company
Amount
1. USAA
In 2020, USAA ranked #1 in Mississippi for the cheapest car insurance for seniors.
$715
per year
2. Mississippi Farm Bureau
In 2020, Mississippi Farm Bureau ranked #2 in Mississippi for the cheapest car insurance for seniors.
$801
per year
3. State Farm
In 2020, State Farm ranked #3 in Mississippi for the cheapest car insurance for seniors.
$1,017
per year
4. GEICO
In 2020, GEICO ranked #4 in Mississippi for the cheapest car insurance for seniors.
$1,069
per year
5. Travelers
In 2020, Travelers ranked #5 in Mississippi for the cheapest car insurance for seniors.
$1,070
per year
6. Nationwide
In 2020, Nationwide ranked #6 in Mississippi for the cheapest car insurance for seniors.
$1,090
per year
7. Allstate
In 2020, Allstate ranked #7 in Mississippi for the cheapest car insurance for seniors.
$1,100
per year
8. MetLife
In 2020, MetLife ranked #8 in Mississippi for the cheapest car insurance for seniors.
$1,343
per year
9. Progressive
In 2020, Progressive ranked #9 in Mississippi for the cheapest car insurance for seniors.
$1,683
per year

To help seniors find the cheapest car insurance in Mississippi, they should seek out personalized quotes based on their own individual circumstances from a number of Mississippi car insurance companies.

Cheapest Car Insurance for Students

Mississippi Car Insurance: How Much a Teen Driver Will Cost You

Median annual price change for families with a teen driver on their policy:

$1,732 INCREASE

This is a difference of 106%.

Mississippi has a graduated driver's license program for teens, which safety experts recommend to help teens gain driving experience under the safest conditions. Teens are notoriously expensive to insure because they are considered high-risk drivers, mostly due to their lack of experience behind the wheel and their impulsive behavior. When your child starts college, it's a good idea to call your insurance company to inform them of any change in living conditions or driving habits. Also talk with your insurer regarding available discounts for students who get good grades.

While rates for both high school and college students can be lower for parents who add their teens to an existing family policy, the rates still may go up given students are considered high-risk drivers.


Company
Amount
1. Allstate
In 2020, Allstate ranked #1 in Mississippi for the cheapest car insurance for students.
$2,600
per year
2. Nationwide
In 2020, Nationwide ranked #2 in Mississippi for the cheapest car insurance for students.
$2,843
per year
3. State Farm
In 2020, State Farm ranked #3 in Mississippi for the cheapest car insurance for students.
$2,899
per year
4. Progressive
In 2020, Progressive ranked #4 in Mississippi for the cheapest car insurance for students.
$2,929
per year
5. GEICO
In 2020, GEICO ranked #5 in Mississippi for the cheapest car insurance for students.
$3,279
per year


Premium Comparison by Student Type

PREMIUM COMPARISON FOR TWO ADULTS + A 16-YEAR-OLD

car
Average premium for two 2014

Mustang GTs

$4,619
car
Average premium for two 2008

Town and Country Limiteds

$3,042
Annual benefits of minivans:$1,577 saved

This is 34% less expensive.

Cheaper premium for college vs. high school drivers

Median premium change with a college student vs. high school driver:

$610 DECREASE

This is a savings of 17%.

Potential discounts for teens in Mississippi

Impact on annual premium with good student and defensive driving discounts:

coins
$274 SAVED

Mississippi students: a long-distance discount

You may pay a smaller annual family premium if your child lives 150 miles or more away from home.

male
Average premium for a 19-year-old male
car

$3,284 at home

graduation

$2,916 at school

$368 IN SAVINGS

female
Average premium for a 19-year-old female
car

$2,836 at home

graduation

$2,596 at school

$240 IN SAVINGS

Insurance Rate Information for Military Drivers and Veterans

If you are one of the more than 11,000 active-duty military personnel who live in Mississippi, and you are deployed for a long period with your vehicle left unused at home, be sure to notify your insurer and ask about discounts or whether you can suspend all or part of your coverage.

If money is tight, you may want to cancel your coverage while you are away. Mississippi law does not allow an insurance company to increase your rate if you cancelled or didn't renew your policy because you were called to active duty — as long as your car was not used during the cancellation period. However, you will be responsible for the costs if your car is damaged or stolen in your absence, so be sure it is in a secure place.

If you are a Mississippi resident temporarily deployed out of state, you can renew your license by mail. Otherwise, you will have 90 days after discharge to renew your license upon your return to Mississippi. If you are a resident of another state temporarily stationed in Mississippi, you and your family can continue to drive with your license and registration from home.

Age savings for Mississippi service members

male
25 years$1,450
50 years$1,147
female
25 years$1,381
50 years$1,131

$303 Saved
$250 Saved

Median auto insurance for service members: $1,186

Who Needs Car Insurance in Mississippi?

Everyone who drives in Mississippi needs to have liability insurance or show another form of financial responsibility.

If you can't get an insurer to cover you because of your driving history or risk profile, you can apply for insurance from the Mississippi Automobile Insurance Assigned Risk Plan. The plan provides bodily injury and property damage liability insurance to high-risk drivers who can't get an insurance policy on their own.

To be eligible for the plan, you must apply and certify that you have attempted to obtain insurance during the past two months but were unable to get a policy. Assigned risk insurance costs more, so try to get your own policy before resorting to the assigned risk pool.

Proof of Insurance in Mississippi

You are required to carry proof of insurance in your car at all times. This can be a paper copy or an electronic version of your insurance card on your mobile device.

You risk a citation and fine if you have insurance but can't prove it. A police officer cannot pull you over only to check your insurance card, but he or she can ask for it if you are pulled over for any other reason.

Minimum Liability Insurance Requirements in Mississippi

The minimum amount of liability coverage required to legally drive in Mississippi is:

  • $25,000 for injury for one person
  • $50,000 for injury for two or more people in one accident
  • $25,000 in property damage liability

Alternatives to Insurance in Mississippi

Most people choose to purchase a car insurance policy, but there are alternatives. You could buy a bond or make a $15,000 cash deposit with the state. If you're at fault in an accident that costs more than your bond or cash deposit, though, you may still be liable for the difference.

Car insurance companies use your location to calculate your rate.
Explore average rates for your city.

Car Insurance Requirements in MS: How Much Coverage Do You Need?

What percentage of drivers in Mississippi lack vehicle insurance?

23.7%

National average: 13%

Source:

Insurance Information Institute.

The law sets the minimum amount of liability insurance you must have, but experts recommend getting liability coverage of $100,000 per injury and $300,000 per accident. Often this may only cost a few more dollars a month.

Other common types of car insurance include:

  • Uninsured Motorist Coverage: This coverage could come in handy in a state like Mississippi, where such a high percentage of drivers are uninsured. It covers your medical expenses if you are in an accident and the person at fault is uninsured.
  • Collision/Comprehensive Coverage: If you have a new car with a loan, your lender will probably require you to have collision and comprehensive insurance.
  • Medical Coverage: If you don't already have good health insurance, this could save you a lot of money if you're injured in an accident.

If you decide you want a certain type of coverage but the price tag seems too high, consider increasing your deductible. Talk with your insurance agent about what is right for you.


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Sources