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Mississippi insurance laws and requirements can seem confusing to newcomers. If you want to get a head start on understanding Mississippi's complex auto insurance and home insurance laws, taking a little bit of time to learn the basics will help you out a lot later on.

Auto Insurance in Mississippi

Like most other states, auto insurance is mandatory in Mississippi. In other words, everyone that owns and operates an automobile in Mississippi must have auto insurance: no exceptions. If you are caught driving a vehicle without insurance, you will be fined $1,000 and have your license suspended for a year. Mississippi cops are routinely on the lookout for people driving without insurance, so it is not a good idea to risk it.

Understanding Liability Coverage

The term "liability coverage" means protection from liability. In the event of an accident, the extent to which you are responsible for paying for the damage resulting from your accident is known as your "liability." The state of Mississippi requires that you must purchase auto insurance with at least $25,000 bodily injury liability per person and $25,000 property damage liability. That means that your insurance must be able to pay up to $25,000 for medical expenses related to an accident that is your fault, and up to $25,000 for property damage.

The Average Monthly Auto Insurance Premium in Mississippi

The good news about the auto insurance situation in Mississippi is that the average monthly auto insurance premium is lower than the national average. Most drivers in Mississippi pay between 139 and 151 dollars a month for their auto insurance premium. If you live in a state with higher premiums (like California), you may be able to save a significant amount of money after your move to Mississippi.

Get a Mississippi Auto Insurance Quote

Home Insurance in Mississippi

The situation with Mississippi home insurance is very similar to most other states. Some people believe that home insurance in Mississippi is too expensive, but the good news is that there are a variety of helpful strategies you can use to lower your home owner's insurance premium. Not all of these strategies will work for everybody, but you should be able to find some that work well for you.

Keep Your Credit Score Healthy to Save Big

Most people overlook the importance of maintaining a good credit score. This can be a big mistake with Mississippi home insurance. Healthy credit scores almost always translate into low home insurance rates. Conversely, poor credit scores almost always mean high home insurance rates.

If you have a bad credit score, you should start looking for ways to improve it. If you already have a good credit score, be extra careful that you are getting the best deal on home insurance possible. Check out multiple insurance companies to get the best offer.

Improve your Home's Security

With most home insurance providers in Mississippi, you can get discounts by enhancing the security of your home. The most cost-effective ways to do this are adding a smoke detector, installing a basic alarm system, and putting in some dead-bolt locks. It's a fact that most homes are not very secure. Home insurance providers are very willing to provide discounts to home owners that make even a slight effort to beef up their home's security.

Buy Your Home and Auto Insurance from the Same Insurance Company

Home owner's insurance and auto insurance are not as unrelated as you might think. Most companies that sell home owner's insurance also sell auto insurance. If you buy both your home owner's insurance and auto insurance policies from the same company, you can often net substantial savings.

Don't Forget the Importance of Reputation

Cutting costs shouldn't be your only priority when it comes to buying home owner's insurance in Mississippi. You should make sure that you only buy home insurance from a company that you know you can trust. While the U.S. government does a fairly good job at regulating the home insurance industry, it is not perfect: Mistakes do occur. To prevent yourself from experiencing the consequences of one of those mistakes, it is a good idea that you limit your search for home insurance companies to credible ones. In the short term, this may mean that you end up paying slightly more, but in the long run you will almost certainly save money.

Don't let yourself feel overwhelmed from all the complexity of the insurance situation in Mississippi. With a little bit of time and effort you will start to figure it out and feel better. Just remember to be patient with yourself and allow yourself to explore all your options.

Get a Mississippi Home Insurance Quote

Agency Information

Over the past 23 years we have established a safe, stable, reputable relationship with many commercial and personal insurance carriers. We are able to offer commercial coverage in 12 states including: Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, Kansas, North Carolina, South Carolina, Tennessee, Texas, and Virginia.
Salter Insurance Agency
406 3rd Ave
PO Drawer 489
Ashford, AL 36312
Phone: 1-800-945-5719
Fax: 1-334-899-6813