Cheap Mississippi Low-Income Car Insurance for Families and Individuals

There is no government car insurance program in Mississippi that assists low-income drivers when paying for auto coverage. MoneyGeek evaluated auto insurance companies in Mississippi to help low-income drivers reduce their annual premiums. MoneyGeek found GEICO offers cheap car insurance for low-income families and individuals in Mississippi.

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Last Updated: 4/19/2022
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When calculating the cost of car insurance in Mississippi, income is not a consideration. The most significant factors that affect your car insurance premium in Mississippi are including a teen driver on your policy and coverage levels.

MoneyGeek uncovered how much low-income individuals and families in Mississippi might pay if they have a poor credit score or a good credit score.

Is There Car Insurance for Low-Income Families and Individuals in Mississippi?

In Mississippi, there is no government program that assists low-income families or individuals in obtaining affordable auto insurance. Even though car insurance is required, Mississippi has the highest uninsured driver rate of 29.4% in the United States. That may be because drivers can’t afford it.

The cheapest car insurance for low-income individuals and families in Mississippi is a minimum coverage policy. Pay-per-mile insurance may be a cost-effective option for low-income Mississippi drivers who are infrequent travelers.

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Does Mississippi Have a Government Program to Support Low-Income Drivers with Insurance?

Mississippi does not have a government car insurance program for low-income drivers. Comparing quotes from different companies is the most effective way to find low-cost car insurance. MoneyGeek found the cheapest car insurance companies for low-income families and individuals in Mississippi who want to save money.

The Cheapest Mississippi Car Insurance Companies for Low-Income Drivers

When calculating car insurance rates in Mississippi, insurance companies can’t use income, but they use other factors, like age and credit score, that could correlate to income.

Minimum coverage is the least expensive option in Mississippi for low-income drivers. MoneyGeek found the cheapest companies for car insurance in Mississippi for low-income families and individuals are GEICO and Mississippi Farm Bureau.

MoneyGeek also analyzed the cheapest minimum auto insurance in Mississippi for low-income drivers based on their age.

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The Cheapest Mississippi Car Insurance Companies for Low-Income Families

While a family’s income doesn’t impact the cost of their car insurance, its credit score does. The difference in rates for MoneyGeek’s sample single parents with a poor credit score or a good credit score in Mississippi is around $1,055 per year. Our sample couple with a kid and poor credit score pays around $1,578 more than if they had a good credit score.

On average, the cheapest insurers in Mississippi for a couple with a kid and a poor credit score are:

  • Mississippi Farm Bureau: $3,151 per year
  • Nationwide: $3,259 per year

For a couple with a child and a poor credit score with a military background, USAA is the cheapest at around $2,275 per year.

The following are Mississippi’s cheapest car insurance companies for single parents with poor credit:

  • GEICO: $1,936 per year on average
  • Mississippi Farm Bureau: $1,941 per year on average

For single parents with a poor credit score and military background, USAA charges around $1,476 each year.

Being a low-income family does not mean you have a poor credit score. Use the table below to determine the best option for you based on your family’s profile.

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Single parent w/ a kid

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  • Company
    Annual Rates
  • USAA
    $867
  • GEICO
    $1,137
  • Mississippi Farm Bureau
    $1,140
  • Nationwide
    $1,280
  • State Farm
    $1,404
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The Cheapest Mississippi Car Insurance Companies for Low-Income Individuals

For MoneyGeek’s sample 40-year-old driver, rates differ by around $360 per year if they have a poor credit score versus a good credit score.

On average, the companies with the cheapest policies for low-income drivers with poor credit are:

  • GEICO: $671 per year
  • Mississippi Farm Bureau: $719 per year

USAA offers a policy at roughly $519 annually, but it's only available to low-income drivers with a military background.

If you have a low income, it does not mean you have a poor credit score. For drivers with a good credit score, GEICO charges around $394 per year, Mississippi Farm Bureau costs around $422 yearly, and USAA is around $305 a year.

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Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $305
  • GEICO
    $394
  • Mississippi Farm Bureau
    $422
  • Nationwide
    $446
  • State Farm
    $494

The Cheapest Mississippi Car Insurance Companies for Low-Income Students

In Mississippi, student drivers pay higher auto insurance rates due to their lack of driving experience. College students tend to have a low income, and car insurance costs can take up a large percentage of their earnings, even if companies do not charge them higher premiums because of their low income.

The companies that average the most affordable car insurance for low-income students in Mississippi with poor credit are:

  • GEICO: $1,655 per year
  • Mississippi Farm Bureau: $1,775 per year

USAA is the cheapest option at around $1,281 per year, but the company only gives policies to students from military families.

You may have a good credit score despite having a low income. In that case, GEICO charges an average of $972 per year, Mississippi Farm Bureau charges around $1,043 per year, and USAA is roughly $753 annually.

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Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $753
  • GEICO
    $972
  • Mississippi Farm Bureau
    $1,043
  • Nationwide
    $1,101
  • State Farm
    $1,219

The Cheapest Mississippi Car Insurance Companies for Low-Income Seniors

Senior drivers often pay higher car insurance premiums than middle-aged drivers, and credit score influences their rates as well. Rates in Mississippi vary by around $393 per year for MoneyGeek’s 70-year-old driver if they have a poor credit score versus a good credit score.

On average, the following auto insurance companies in Mississippi offer the most affordable policies for low-income seniors with a poor credit score:

  • Mississippi Farm Bureau: $664 per year
  • Nationwide: $812 per year

With an annual cost of roughly $610, USAA has the cheapest policy, but is only available to military members and veterans.

You don't necessarily have a poor credit score because you're a low-income senior. A senior driver with a good credit score pays around $390 annually through Mississippi Farm Bureau, roughly $477 a year with Nationwide, and around $359 annually through USAA.

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $359
  • Mississippi Farm Bureau
    $390
  • Nationwide
    $477
  • GEICO
    $488
  • State Farm
    $494

Does Income Affect Car Insurance Rates in Mississippi?

Insurance companies don’t use income to determine how much they charge you. Other factors that often have a connection to income, however, might affect your rates.

As an example, low-income drivers are more likely to file claims since they may be unable to pay for repairs themselves. Drivers with a history of claims face higher premiums from insurance providers.

MoneyGeek has uncovered the main factors that affect Mississippi auto insurance premiums that may also relate to a low income:

  • Adding a Teen Driver.
  • Coverage Levels.
  • Age of Driver.

Credit score and car model also influence car insurance rates in Mississippi.

  • Factor
    How It Affects Your Rates
  • Adding a Teen Driver

    The biggest factor that can affect your rate in Mississippi is adding a teen driver to your policy — you pay up to 3.1x more.

  • Coverage Levels

    In Mississippi, the cost of a full coverage policy is 2.9 times that of the state minimum.

  • Age of Driver

    Young drivers could pay 2.5x more than middle-aged drivers in Mississippi.

  • Credit Score

    A poor credit score could result in paying 2.1x more than with a good credit score.

  • Car Model

    An insurance policy might be twice as expensive for certain car models.

Frequently Asked Questions About Low-Income Car Insurance in Mississippi

When you search for low-income car insurance in Mississippi, you may have questions. MoneyGeek’s answers to some of the most frequently asked questions below can help when getting car insurance in Mississippi for low-income families and individuals.

Methodology

MoneyGeek calculated the cost of car insurance for low-income drivers in Mississippi using quotes sourced in partnership with Quadrant Information Services. The sample driver is either a 40-year-old male, a single 40-year-old parent with a 16-year-old child, an adult couple (each 40 years old), or a couple with a 16-year-old child. The individual or family drives a 2010 Toyota Camry LE. The driver buys the minimum car insurance required in Mississippi.

Costs for poor and good credit scores were extrapolated based on MoneyGeek’s dataset of credit score rate adjustments by score categorization.

About the Author


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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.