Average car insurance cost in Southaven, MS

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

Based on an analysis by Insure.com, the typical car insurance expense in Southaven, Mississippi is $1,955 annually. Furthermore, car insurance premiums in Southaven are $53 less than compared to the state average in Mississippi and $60 more than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Southaven, the average car insurance rates by age and gender, and the costs in Southaven based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Southaven. Keep reading to learn more.

Cheap car insurance companies in Southaven

Nationwide provides the best value for car insurance in Southaven with coverage limits of 100/300/100, costing $1,181 annually.

A close second is Travelers, which offers car insurance at $1,552 per year.

Read about the best car insurance companies.

Average car insurance cost in Southaven by coverage limits

The average car insurance rates in Southaven by coverage type are as follows:

• State minimum coverage: $540 per year (limits of 25/50/25)
• Liability-only coverage: $730 per year (limits of 50/100/50)
• Full coverage: $1,955 per year (limits of 100/300/100)
• Non-owners coverage: $385 per year

In many states, drivers are legally required to maintain state minimum coverage. However, these requirements vary by state. However, the state minimum coverage does not protect vehicles listed on your policy in an at-fault accident.

It’s advisable to choose full coverage to avoid the risk of inadequate coverage and out-of-pocket expenses. You can also choose non-owners coverage if you often borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Southaven

Based on an analysis by Insure.com, female drivers in Southaven, Mississippi pay an average annual car insurance premium of $1,947. In comparison, male drivers pay $1,963 annually, which is $16 more than what female drivers pay.

According to the Insurance Information Institute, statistics indicate that women are generally considered safer drivers than men. Also, women pay less for car insurance due to the lower rate of severe accidents.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Southaven

In Southaven, car insurance rates are highest for teens, averaging $6,285 per year or $524 per month. According to the Insurance Information Institute, these higher rates for 16- to 19-year-olds are due to their increased likelihood of road accidents due to their lack of driving experience.

Specific teen driving laws have been implemented to help them become better drivers. Additionally, parents can lower teen insurance rates by adding them to their existing auto insurance policy.

As teens grow older and build a positive driving history, their car insurance rates decrease. Young adults usually pay $3,176 annually for their car insurance, which is $3,109 less than what teens pay for their coverage.

In Southaven, adult drivers pay an average of $1,980 per year for car insurance, while senior drivers pay $1,965 annually.

According to the Insurance Information Institute, rates for adults and seniors are significantly lower than for teens and young adults, as they are more likely to obey speed limits and follow road rules.

Read more on auto insurance for seniors.

The table below lists the average annual rates for drivers of different age groups:

Car insurance rate trends in Southaven

Examining the trends in car insurance rates in Southaven, Mississippi, there was an upward trend from 2022 to 2023. Between 2022 and 2023, rates increase overall by 23% or $362.

The table below illustrates the trend over the three years:

Conclusion

Car insurance rates in Southaven are lower than the average rates in Mississippi. Drivers in Southaven can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

 . .

Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.