The best, cheapest car insurance in Mississippi

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Best car insurance company in Mississippi

Drivers in Mississippi pay an average of $2,008 a year or $167 a month for car insurance coverage which makes it the 17^th most expensive state in the country.

Even though car insurance is pretty expensive in Mississippi, it’s possible to find affordable coverage with top insurers such as Nationwide, Travelers, State Farm, and other insurers.

Nationwide is our choice for the best car insurance in Mississippi. It finished first in our rankings with 4.52 out of 5 stars and an average premium of $1,331 a year, or $111 a month, which is $677 less than the state average.

State Farm was second with a score of 4.34 stars followed by Travelers with 4.13 stars.

The best car insurance companies in Mississippi

How we picked the top auto insurance companies

When choosing the top car insurance companies in the state, we not only looked at the average cost of coverage but also J.D. Power customer satisfaction scores, AM Best financial strength ratings and National Association of Insurance Commissioners (NAIC) complaint rankings. National averages were used where state and regional data was not available.

For each of the four metrics, we gave companies in each state from 1 to 5 (5 being the best) based on how they performed in each category. Those components were then given the following weights to arrive at an overall star rating.

• Premiums: 25%
• JD Power: 30%
• AM Best: 25%
• NAIC: 20%

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Cheapest car insurance in Mississippi

Nationwide is the cheapest option for car insurance in Mississippi.

Insurers consider a wide variety of factors when setting a premium including your driving record, credit score, age and marital status as well the vehicle. Where you live also affects rates.

“States that have a higher rate of severe weather that damages cars or helps cause accidents will typically have higher rates,” says Chong Gao, director of product management R&D at Mercury Insurance. “Florida, for example, is prone to extreme weather like hurricanes and its car insurance costs are consequently much higher.”

Insurance companies crunch all this data with proprietary algorithms, which can result in dramatic differences in premium quotes.

The numbers highlight these differences. Allstate is the most expensive insurer in Mississippi with an average premium of $2,527 a year.

On the other hand, as mentioned above, the average premium for Nationwide policyholders in Mississippi is $1,331 a year. Travelers had the second cheapest coverage in Mississippi at $1,636 and State Farm rounded out the top three cheapest at $1,797.

Below is a list of the cheapest full-coverage car insurance rates in Mississippi for a 40-year-old driver of a 2023 Honda Accord LX.

Cheapest full-coverage insurance in Mississippi

Full coverage car insurance in Mississippi

As noted, the rates above are for full coverage car insurance. Residents of Mississippi will often be advised to get full coverage, which includes both liability protection as well as collision and comprehensive. Liability helps pay medical and legal bills for injuries or damages you are responsible for after an accident. However, liability doesn’t cover damage to your vehicle or your injuries.

Collision will pay to repair your vehicle if it is damaged after colliding with another vehicle or object. Comprehensive covers perils such as fire, theft, flooding, vandalism and more.

You can find out more about liability, collision, and comprehensive coverage here.

Shopping for car insurance in Mississippi

Shopping around for coverage is a great way to make sure you are getting the best rates on your auto insurance. Experts often tell consumers to shop for insurance yearly. But that doesn’t necessarily mean you should be looking to switch.

“I recommend that people stay with the same insurance company, as they tend to get a better rate when they have been with the same carrier for more than 12 months. The more tenure you have with a carrier, the more potential there is to earn benefits,” says Tim Bottini, a Country Financial insurance agent based in St. Louis. “The carrier can also review your claims history and provide information about applicable discounts.”

But make sure you are comparing like coverage levels and deductibles.

“It is extremely important to make sure you start off with an apples-to-apples comparison,” Bottini says. “However, if a person has low limits, say 25/50/25 – limit per person/per occurrence/limit for property damage – I am going to recommend and quote at least 50/100/100. Depending on their age/income and profession, I would quote higher limits to protect their net worth and earnings potential.”

Bottini also says people can save money on their car insurance by keeping their credit score up, following the speed limit and placing both home and auto insurance with the same carrier.

Cheapest car insurance in Mississippi by age

Car insurance rates will vary by age as reams of statistics show that teen and young adult drivers, because they are inexperienced on the road, take bigger risks and are more likely to get in anaccident and file a claim, which is why they pay more for coverage than older more experienced drivers.

Nationwide turned out to be the best insurer in Mississippi for drivers of all ages. The numbers show the difference between young and old drivers with the lowest premium for a teen coming in at 91% more than the lowest premium for a senior driver.

Once a driver hits 25, rates will start to drop, assuming they keep their driving record clean, and will stay stable until their 70s when they will start climbing a bit.

Cheapest car insurance for senior drivers in Mississippi

According to our data, senior drivers pay roughly 31% more than middle-aged drivers.

Seniors tend to pay slightly higher car insurance rates than younger drivers. In Mississippi, the cheapest insurance company for senior drivers is Nationwide at $1,245 a year or $104 a month. Travelers grabbed the second-place spot with premiums running $1,611 annually or $134 a month, State Farm was third at $1,703.

Seniors pay higher rates thanks to age-related issues. They often suffer from vision and hearing issues as well as slowing reflexes and medical issues. This all leads to more accidents and claims, which pushes up the cost to insure seniors.

The chart below shows the average premium for senior drivers.

Average rates for seniors in Mississippi

Car insurance for young drivers in Mississippi

Young drivers (21-25) have seen their premiums drop from their teen years, but they still pay more than more experienced drivers. In Mississippi, Nationwide is the cheapest option for young adults with a yearly premium of $2,069 or $172 a month.

Travelers is the next most affordable with an average rate of $2,492 followed by State Farm at $2,867.

Young drivers who maintain a clean driving record can expect their rates to drop even more as they reach their late 20s.

The table below shows the best insurers for young drivers in Mississippi:

Average rates for young drivers in Mississippi

Car insurance for teen drivers in Mississippi

Adding a teen to a car insurance policy will always push up the rate. Teens are the least experienced drivers out on the road which leads to more accidents and claims and higher premiums.

“Teen drivers are statistically more likely to be involved in accidents due to their lack of driving experience and tendency to engage in risky behaviors like speeding,” says Eliezer Zupnick, founder of East Leads Group LLC. “Teens are involved in three times as many auto accidents per mile compared to drivers aged 20 and up, making them a high-risk category for insurers.”

For Mississippi teens, Nationwide is the most affordable option with a premium of $4,137 a year or $345 a month. State Farm is the next most affordable at $4,807 a year or $401 a month followed by Travelers running $4,960 a year.

If your teen has a B average or better, ask for a good student discount to help save a bit of money. Having your teen drive an older vehicle will also help save some money. If the car is old enough that you wouldn’t repair it after an accident, you may be able to drop collision and comprehensive.

The chart below shows average premiums for teens in Mississippi:

Average rates for teens in Mississippi

Average cost of car insurance in Mississippi

In Mississippi, the average premium is $2,008, which makes Mississippi the 17^th most expensive state for coverage.

All states have large metropolitan areas, which will always push up the cost of insurance as more vehicles on the road lead to more accidents and claims. A high crime rate will also impact rates.

“If a state has a higher rate of car insurance claims associated with vandalism or car theft, prices are usually higher because car insurance companies view insuring these cars as a higher risk for them,” says Chong Gao, director of product management R&D at Mercury Insurance.

The chart below is the average rate in each state for a 40-year-old driver of a 2023 Honda Accord LX.

Average rates for a 40-year-old in Idaho

Which Mississippi ZIP codes are the most expensive for car insurance?

Insurers consider the ZIP code where your car is parked when setting a premium. High crime rates or frequent severe weather will result in a higher premium.

According to our analysis, the following ZIP codes are the most expensive in Mississippi for car insurance. Washington tops the charts at $2,309 a year.

Here are the most expensive ZIP codes in Mississippi for car insurance:

Most expensive ZIP codes in Mississippi

Which Mississippi ZIP codes are the cheapest for car insurance?

When it comes to cheap car insurance in Mississippi, these ZIP codes have the most affordable coverage. The area around Tupelo has the lowest premiums in Mississippi with an average premium of $1,757.

Least expensive ZIP codes in Mississippi

Cheapest car insurance for high-risk drivers in Mississippi

If you have an at-fault accident, DUI or speeding ticket on your driving record, your insurer may consider you a high-risk driver and will push up the cost of your coverage.

A speeding ticket increases the average premium to $1,795 and will stay on your record and impact your premium for three years.

If you are responsible for an accident, your rates will push the average cost of coverage to $2,263.

A DUI is considered a major violation and will raise the average premium to $3,085.

The table below shows the average increase for drivers with an incident on their record:

How much rates increase in Mississippi after a traffic incident

Minimum car insurance requirements in Mississippi

Most states require drivers to carry a minimum amount of liability car insurance, and Mississippi is no exception. Drivers are required to carry 25/50/25 in liability coverage, which translates into:

• $25k for injury/death per person
• $50k for injury/death per accident
• $25k for damage to property

But state-required minimums are rarely enough coverage in a serious accident. If you cause an accident and the damages exceed your coverage levels, you will need to cover the damages out of pocket.

The most common required coverages are $25,000 bodily injury liability per person, $50,000 bodily injury liability per accident and $25,000 property damage.

Experts typically recommend carrying 100/300/100 as a minimum liability coverage level.

What our expert says

Q: How does a state’s population affect car insurance rates?

Chong GaoDirector of product management R&D at Mercury Insurance.

“States with a higher population density have more cars on the road and thus more accidents and claims, increasing insurance rates. A more rural state like Iowa will have significantly lower average yearly car insurance costs compared to a highly metropolitan state like Mississippi.”

Mark Vallet

Contributing Researcher

 

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Mark Vallet is a Denver-based insurance expert and journalist with 18 years of experience covering the car insurance industry. He specializes in breaking down complex insurance topics into clear, expert-backed insights that help drivers make smarter insurance coverage decisions.

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