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Cheapest car insurance in Mississippi 2021

Bankrate logo Bankrate 1/21/2021 Sara Coleman
a large body of water with a city in the background: Mississippi capital building © Sean Pavone/Getty Images Mississippi capital building

Finding the cheapest car insurance in Mississippi is possible whether you're down by the Gulf Coast, up in Tupelo, or anywhere in between. All it takes is a little research and comparison shopping to find the cheapest coverage in the Magnolia State.

The state ranks highest in the nation for the number of fatal crashes, the majority of which occurred from not being properly restrained. Despite this, it is still possible for residents to secure cheap auto insurance in Mississippi while adhering to the state's minimum coverage requirements. The average cost of car insurance in Mississippi is $429 per year for minimum coverage and lands at $1,714 per year for full coverage.

The cheapest car insurance in Mississippi

The rates between carriers are as varied as the 29,000 miles of maintained roads you find in Mississippi. Here are the cheapest options, from the most popular companies in the country.

Car insurance companyAverage annual premium for minimum coverageAverage annual premium for full coverage
Metropolitan$482$1,878
Nationwide Corp$320$1,500
Progressive$460$1,567
State Farm$303$1,311
USAA$274$1,138

Metropolitan

Metropolitan, or MetLife, is another provider of cheap insurance, with minimum coverage averaging $482 per year. One of the many discounts available is through bundling your policy with homeowner insurance, which allows you to save up to 15%. MetLife also allows you one bill for the bundled policies and one deductible.

Nationwide

Nationwide offers cheap options, with minimum coverage premiums averaging $320 per year. Nationwide also has a variety of discounts for policy holders, in addition to an abundant number of ways to customize a policy. Discounts range from safe driving to going paperless, some of which make substantial cost impacts to your premiums.

Progressive

Progressive is another carrier to review for cheap insurance options. The popular Name Your Price tool allows you to build your policy based off your budget, while taking advantage of as many discounts as possible. Discounts are available in a variety of categories, from safe driving to good student. There are even discounts for obtaining your quote online and being affiliated with certain clubs and alumni groups.

State Farm

State Farm is another option for cheap rates on auto insurance. State Farm is ideal for MIssissipians who want to manage a policy via an app, website, agent or customer service number - no matter how little you pay in premiums.

State Farm also features a wide range of discounts to help you save further, including the popular Drive Safe and Save program and Steer Clear. State Farm offers additional discounts for loyal customers, good students and safe vehicle options.

USAA

USAA provides current members of the military family, veterans and their families with access to cheap car insurance in Mississippi. If you meet the eligibility requirements, USAA provides the least expensive rates, starting at $274 per year for minimum coverage.

USAA provides lower prices through a variety of discounts for military families. There are the typical provider discounts, such as multi-policy and multi-vehicles. But other premium discounts are available such as good student, safe driving and driver training. Your premiums are further lowered as you increase the number of years of service.

Affordable coverage for Mississippi drivers

Mississippi's minimum auto insurance requirements for residents includes $25,000 bodily injury per person, $50,000 bodily injury per accident and $25,000 property damage per accident.

In addition, every driver must carry proof of coverage at all times. This proof of coverage must be shown at the request of any law enforcement official or fines are incurred.

When searching for the cheapest auto insurance in Mississippi, it might be tempting to only purchase the minimum coverage. However, doing so makes your finances vulnerable to disaster if you're involved in an accident where it is ruled your fault. For instance, if the vehicle accident you cause involves injury to multiple people but you only have the $50,000 bodily injury coverage per accident, then this amount might not cover medical expenses for everyone. You would be financially responsible for the difference.

How to get cheap car insurance in Mississippi

The good news is, there are several ways to get cheap car insurance in Mississippi, in addition to comparison providers.

Getting multiple quotes is ideal to get the lowest premiums. Not only do you compare providers and discounts, but you also compare coverage options head-to-head.

Taking advantage of any and all discounts is another best practice for getting the lowest rates possible. While some discounts are more readily available, such as multi-policy and multi-line, there may be lesser-known options too. Be sure to ask for a list of all available discounts from the carrier.

Increasing your deductible is another tactic for lowering premiums. If you take more of the cost burden by raising your deductible, then your premiums will drop. The only word of caution is to make sure you can cover the deductible amount with your savings.

Finally, improving your credit score makes an impact on the amount of your premiums. Monitoring your report for mistakes, paying your bills on time and keeping your credit utilization low are a few practical ways to improve your score - and lower your premiums.

Frequently asked questions

What is the best car insurance in Mississippi?

While there are many factors that determine if a carrier is the best, there are a few carriers that stand out based on financial ratings, customer service and competitive rates. Alfa Insurance ranks highest with all three factors and tops the list for best car insurance in Mississippi.

What is the average cost of car insurance in the U.S.?

The average cost of minimum coverage car insurance in Mississippi is $429, while full coverage averages $1,714. When you compare this to the national average of $563 for minimum coverage and $1,738 per year for full, Mississippi falls right into the average, ranking 19th in highest premiums.

Can I switch auto insurance companies at any time?

Yes, you can switch auto insurance companies at any time but before you switch, understand if there are any penalties for ending your coverage before your renewal period. It's also wise to have your new coverage in place before you cancel your old policy, so there is no lag time where you do not have coverage.

Methodology

Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a cleaning driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state's requirements. Our sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

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