Mississippi Car Insurance (MS)

Mississippi Car Insurance Requirements

The State of Mississippi initiated mandatory liability car insurance as of January 1st, 2001.  As of that date, Mississippi vehicle owners are required to carry car insurance with minimum liability coverage of $10,000 in bodily injury for an individual and $20,000 in bodily injury coverage per accident.  In addition, the minimum liability coverage for property damage is $5,000.

This liability coverage pays for costs incurred by the other party if you are at fault in an accident.  It does not cover medical costs for parties in your car who are injured or for damage to your vehicle.  You can, and probably should add some optional insurance riders to provide yourself additional protection.

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Optional Car Insurance Coverage in Mississippi

One popular option – required in some states – is insurance to protect you against uninsured or underinsured motorists.  This policy clause provides for your medical costs and those of your passengers if you are involved in an accident where the other driver is at fault but is either uninsured or does not have sufficient coverage to pay your injury-related expenses.

Covering the cost of damage to your car can be accomplished by including collision and comprehensive coverage in your car insurance policy.  Collision insurance pays for the damage to your car caused in an accident that is your fault.  Comprehensive coverage pays for damage caused by non-accident incidents such as storms, fire, theft or vandalism.  If you take out a loan to buy your car, your lender will probably require you to purchase these coverages.

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Both collision and comprehensive insurance will always have deductible payments that you must make initially before the insurance coverage is activated. Agreeing to a higher deductible is one way of substantially lowering your premium cost for collision or comprehensive coverage.

Medical payments insurance is another optional insurance component that provides additional protection for injury-related costs.  This clause will cover medical costs up to the limit you select for you and your passengers, regardless of who is at fault.  This coverage may overlap the other driver’s liability, but might be important if your costs are over the liability limit and you have no underinsured motorist coverage.

Auto insurance is a personal matter, dictated by your own financial status and the value of the vehicle(s) you are insuring.  It is an acquisition that deserves thorough research, as there are lots of ways to minimize the cost if you understand what the various components mean and ascertain what discounts might be available to you.

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