Best car insurance in Mississippi for 2024

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Like almost all states, Mississippi mandates that drivers maintain a minimum amount of coverage in order to drive legally in the state. You will not be able to buy a policy for less than this amount, but you may purchase more than the minimum — and many insurance experts recommend that you do — for better financial protection. A serious accident might cause damage or injuries that far surpass the policy limits of minimum coverage, leaving you to pay the difference out of pocket.

If you financed your vehicle, your lender or lessor likely has certain insurance requirements that go beyond the state's minimum coverage. Typically, you will be required to carry a policy with collision and comprehensive insurance. This is to protect the financing company’s investment in your car. As such, these requirements are not optional, and if you fail to purchase the coverage they request, the insurer may purchase a policy on your behalf, called force-placed insurance. Force-placed policies are usually more expensive than securing coverage yourself.

The best car insurance policy is one that is tailored to your needs. To accomplish this, you might want to think about how your individual circumstances could impact your coverage choices. For instance, Mississippi ranked fifth on the list of worst states for tornadoes in 2023 and made the list of top 10 states for wildfires in 2022. Because of the dangers caused by natural disasters in the state, drivers might want to add comprehensive coverage. Or, perhaps you have a newly licensed driver in your household. In that case, you might want to look for a company that offers teen driver discounts.

On average, State Farm, USAA and Progressive offer some of the cheapest insurance in Mississippi. However, car insurance is highly personalized, with insurers weighing factors differently when determining premiums. Such factors include age, location, vehicle, driving history, gender and more. Some insurers might charge more to insure someone with infractions on their record or have higher surcharges for younger drivers. So to find the cheapest car insurance company for you, request quotes from several providers and ask which discounts you’re eligible for.

No, Mississippi is not a no-fault state, meaning PIP insurance is not required (or available for purchase). Suppose you cause an accident in an at-fault state like Mississippi. In that case, your bodily injury liability limits may pay for any injuries you cause to the other party (up to the coverage limit you carry).

Taking advantage of available discounts is one of the easiest ways to lower your car insurance premium. If you can, you may also want to consider paying your premium in full to get a paid-in-full discount or waive your installment fees (if either applies). Although not an overnight fix, improving your credit score can also bring down your rate, as can practicing safe driving habits. Some may recommend increasing your deductibles; while this can be an effective strategy for some, it comes with risk — choosing a deductible that you can easily pay without warning is essential. If you set your deductible too high, you might find yourself in a financial bind if you have to file a claim. Ultimately, you may want to ask your agent to review your policy for savings opportunities every so often to ensure you’re paying the most competitive rate.

When looking for the best car insurance in Mississippi, the insurer that works best for your neighbor might not be the best choice for you, since everyone has their own priorities. If you have a teen driver on your policy, for example, you may want to work with a company that has multiple teen discounts; if you're retired, on the other hand, and don't drive much, you might be better suited to a company that offers a usage-based policy. The first step in finding the best policy for you is to consider your needs and priorities, and then look for a company that can fulfill those needs at an affordable price.