The Best Mississippi Auto Insurance Companies
Mississippi’s auto insurance rates are right in line with the national average — $994 per year, compared to $1,009 nationwide. That said, how much you’ll pay can vary a lot depending on your car, your coverage, and your address. Use our tool to find your best rates:
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Mississippi ties for the 10th worst maintained road system in America, and poor highway conditions lead to a higher rate of accidents. However, as legislature pushes for infrastructure improvements and the Mississippi economy slowly inches its way up, drivers may start seeing some relief in their premiums. Currently, Mississippi drivers pay very near national average, around $995 per year, for auto insurance premiums. Regardless, there is much more to consider when looking for car insurance in Mississippi than price alone. Make sure that you’re fully covered by a reputable insurer who will be by your side throughout an accident and beyond as you enter the claims process.
Mississippi Minimum Liability
Mississippi has one of the lowest thresholds for minimum auto insurance coverage in the country. Drivers are still required to maintain the three major insurance types: bodily injury per person, bodily injury per accident, and property damage. Here’s how Mississippi’s numbers break down:
- $25,000 bodily injury coverage per person
- $50,000 bodily injury coverage per accident
- $25,000 property damage coverage per accident
These figures are most usually abbreviated as BI and PD liability, and they are most commonly listed as abbreviated numbers. Mississippi’s minimum coverage would be written as (25/50/25). But with the kind of modern technology used in vehicles, buying only the minimum coverage may leave you underinsured in any kind of severe accident.
Let’s pretend you find your vehicle squished under the rear bumper of a new SUV, or crunched into the side of a luxury sedan. The cost of replacing sensitive electronics, sensors, and high-tech materials can be much higher than drivers might expect. Assuming the damaged vehicle is of average value, you could easily be on the hook for more than $10,000 in damages! Factoring in any bodily injury costs that exceed your limits, it easy to see how a small accident can become a major financial setback. As a result, we highly recommend opting in for double the state minimum coverage and expanding that coverage as far as your budget will allow.
How We Found the Best Auto Insurance in Mississippi
Our national review of the best auto insurance took a comprehensive look at each provider, and we used the same metrics to evaluate these local providers. We studied customer satisfaction reviews from some of the largest consumer-focused agencies like JD Power and Consumer Reports. We took into consideration their resources and educational materials for new and seasoned customers alike. We made sure that each insurer was backed up by strong financial ratings and able to withstand substantial claims against their policies. They all had to have extensive coverage options and readily available discounts to offset rising costs. Each of these five insurers have meet or exceed our expectations, and serves as a great starting point when looking for auto insurance.
Mississippi Auto Insurance Reviews
State Farm is the largest auto insurer in all of Mississippi, so it’s no wonder the company dominates the market with its excellent coverage, discounts, financial ratings, and customer service reputation.
State Farm scored high with Consumer Reports for overall customer satisfaction, with “excellent” grades for agent availability and courtesy as well as timely payouts for claims. With overall scores of 89/100, State Farm topped all other providers on this list except Farm Bureau, which scored 90. JD Power also awards State Farm with scores that rank about average for claims satisfaction and overall plan interaction. State Farm’s financial ratings are similarly noteworthy: It has the highest grades of all our top picks, meaning the company is the best prepared to withstand substantial claims.
State Farm is also our top pick for rideshare drivers in Mississippi. The company is one of only two providers on this list (Allstate being the other option) that offer specific protections for drivers working for transportation network companies like Uber or Lyft. While these companies have their own insurance that extends to their remote drivers, it is very likely that a serious accident will quickly push your costs outside of the range of those generic coverages. Letting State Farm know that you’re cashing in on some lucrative weekend work could mean the difference between losing all that hard earned cash and being fully covered.
If you find that adding on this extra coverage is adding too much to your monthly premium, State Farm has a good selection of discounts to counteract your rising bill. While it doesn’t feature quite as many discounts as Nationwide, State Farm still offers a solid range including multi-policy, multi-vehicle, safety device, and safe driver discounts.
Nationwide nearly matched State Farm in Consumer Reports claims satisfaction study with a score of 88/100, which included high marks for timely payments and damage awards. Nationwide also managed to tie State Farm for the simplicity of its claims process, but slipped under State Farm’s “excellent” timely payments score with a “very good” rating. Nationwide boasts the greatest number of discounts available for an auto insurance policy, rivaled only by Allstate. Nationwide also brought home the second highest financial ratings after State Farm.
Nationwide has one of of the most extensive lists of discounts available for its plans. On top of some of the common discounts like multi-policy or multi-car — which alone could net you up to 20% discount on your premium – Nationwide is the only company offering discounts for affinity programs or associations. That means the professional organization you joined when starting career path could bring you unexpected savings on you auto insurance.
Nationwide is also our top pick for families looking to group their car insurance. Nationwide is exclusive in offering a family-plan discount that allows you to share all of your other qualified discounts with anyone living under the same roof. This can mean huge savings when you start tagging on your teenage drivers to your current plan, or if an aging parent moves back in and onto the families auto coverage.
Like its competitors, Progressive earns some of the best customer satisfaction ratings from both JD Power and Consumer Reports. Stable outlooks and high marks for financial strength back up its customer ratings for excellent payment and claims experience. Progressive and our top pick, State Farm, have similar scores for specific steps in the insurance experience — like matching “excellent” ratings for timely payments and “very good” scores for process simplicity, However Progressive falls two points behind our leader in overall reader score, as determined by Consumer Reports.
Still, Progressive makes it onto our list for many reasons, none more obvious than its extensive list of coverage that can create a truly robust auto insurance policy. Progressive is the only insurer offering pet insurance as a built-in protection to any collision coverage. Vet bills incurred from an accident will be covered by this unique policy. It’s also the only company in the mix offering gap loan or lease coverage. If you’re underwater on your car payment in relation to your car’s actual value and you are involved in an accident that toals the vehicle, it could leave you stuck paying off a car sitting in the junkyard. With gap loan/lease payoff coverage, Progressive will pay up to 25% more than the cash value of your totaled vehicle if you are still making payments that exceed its cash value.
Progressive has one of the best digital resource centers of all the major carriers. Progressive Answers calls itself “your easy guide to everything insurance,” and it doesn't disappoint. Easy to read and pleasant to view, their guides can walk you through real-life questions and scenarios like a run-in with Bambi or how coverage works when you either lend your car to friends or borrow theirs. Progressive makes it easy to learn about your policy and all of the details that it covers, so you’re a better prepared driver and ready for whatever that rough road might throw at you.
Allstate has a great list of coverage options, discounts, solid financial rankings, and a well-stocked resource center for Mississippi drivers. However, it was given a low customer service score in a regionally targeted JD Power and Associates overall satisfaction study. While this was a disappointing find, it’s important to take those results with a grain of salt. Allstate still roped in one of the highest scores regarding customer satisfaction from Consumer Reports and an average rating from a more nationally focused claims satisfaction study by JD Power.
Allstate also offers a few unique coverage options and discounts that you won’t find with its competitors in this round-up. New car replacement is one such coverage you’ll only find with Allstate. If your car is two years old or newer, this add-on protection will completely replace your vehicle with new version or equivalent. In keeping with the theme, Allstate also offers a unique discount up to 15% off of your premium for owning a new car of two years of less.
Southern Farm Bureau
Southern Farm Bureau is regionally specific to the deep south, and very focused on Mississippi, as the company is the second largest underwriter of auto insurance policies in the state. Farm Bureau as a whole is a top-notch insurance organization. The company received some of the highest customer satisfaction ratings in JD Power’s regionally targeted claims fulfilment study. Likewise, Consumer Reports gave Farm Bureau the highest reader score of all of our top contenders. Radical scores like these are usually only found with with smaller and more target insurance providers like USAA, which only insures military and their families. Southern Farm Bureau should certainly be a top choice when looking for auto insurance in Mississippi.
The company’s website is a bit spartan, and there is no option for online quote — you’ll need to make a call — but all the common coverage options are outlined. There a few, very limited, informational resources available via the website as well. However, with the kind of customer support that many of the big names only dream of, we highly recommend giving Southern Farm Bureau a call to investigate your options.
Mississippi Quote Analysis
We do not weigh price in our evaluation of the best auto insurance in Mississippi. Since insurance companies consider a huge number of factors and each uses a different, proprietary algorithm when assessing risk for a specific auto policy it is impossible to predict any one person's cheapest option. Your personal details and situations will greatly affect each quote you receive, and those quotes can vary drastically by insurer.
We shopped around for quotes, using identical or nearly identical coverage options for each provider: 100/300/100 for bodily injury and property damage, plus $500 deductible for comp & collision coverage, and a $5,000 deductible for medical payments coverage. But the quotes we got varied considerably:
Southern Farm Bureau and Nationwide both require phone interviews to complete a quote, which takes a bit more personal and sensitive information than we can replicate. We certainly advise giving them each a call before making your final purchasing decision.
You’ll notice that even between just a few quotes, it’s easy to find huge savings by simply shopping around. With nearly $800 difference between Progressive and State Farm for identical coverage, we would have been glad to take a little extra time to check a few more providers before signing our policy. You’ll also notice that our coverage limits are well above the minimum requirements for driving on Mississippi’s roads. Again, even a minor crash between a couple of today’s more modest cars will likely result in high damages, and we certainly don’t want to be on the receiving end of collection letters or calls following an accident.
Deteriorating Road Conditions Bring Rising Costs
Mississippi’s road system integrity has, sadly, been on a slow decline for a number of years. It recently ranked as number 10 on a list of the worst road systems in America. Just over half the roads in Mississippi are rated as poor or mediocre condition, and about 20% of the bridges in the state are considered structurally deficient.
As infrastructure has suffered, Mississippi drivers have paid the consequences. In 2016, drivers saw their auto insurance rates rise by up to 20% due to increasing claims against insurance companies regarding damages incurred by poor road conditions. Combined with a recent deficit in the State Highway Patrol officers on the road, insurance companies have been reacting to increased claims by jacking up premiums.
However, there is hope ahead. Legislators in Mississippi have wasted no time in beginning a push for road improvement programs in 2018. House Bill 354 will take up to 100 million dollars per year for road maintenance from the state's General Fund, but only on years that see the General Fund grow more than 2%. This kind of passive spending could greatly improve the road conditions without immediately raising taxes on residents. If Mississippi can find ways like this to bring their infrastructure back on par, drivers here could be seeing much better numbers when from their auto insurance quotes very soon.