Mississippi Car Insurance
Mississippi law requires all drivers to purchase auto liability insurance. Drivers in Mississippi must carry minimum liability insurance of $25,000 per person, $50,000 per accident for bodily injury and $25,000 minimum coverage for property damage. Mississippi law also requires drivers to purchase Uninsured/Underinsured Motorist (“UIM”) insurance coverage with minimum limits of $25,000 per person, $50,000 per accident for bodily injuries and $25,000 for property damage.
Know When Your Policy Expires
It is very important that Mississippi drivers do not allow their auto insurance policies to lapse. Mississippi drivers must carry proof of insurance in their vehicle at all times. If a driver is caught without insurance or proof of insurance, he or she will face a fine of $1,000 for a first offense and have their license suspended until he or she can provide proof of insurance. Penalties escalate even more if an uninsured driver is caught driving after the first offense.
Uninsured drivers in Mississippi may also be forced to comply with state financial responsibility laws and purchase expensive SR–22 Insurance. They can also be held personally responsible for all damages caused in an accident. Driving without car insurance in Mississippi is fiscally irresponsible and can lead to financial ruin.
UIM and PIP Coverage
In Mississippi, drivers are not required to purchase Uninsured/Underinsured Motorist ("UIM") or Personal Injury Protection ("PIP") coverage, but they are both important types of coverage. A driver with UIM is insured up the amount of the UIM limits in the event the driver at fault for the accident does not have insurance or does not have enough insurance to pay for the damages sustained in an accident. PIP pays for medical bills, lost wages, household services, and funeral expenses following an accident regardless of fault. Both types of coverage can be extremely important after an accident.
Collision and Comprehensive
Other important insurance coverage types include Collision and Comprehensive coverage. Collision pays for vehicle repairs or vehicle replacement value following a collision regardless of fault. Comprehensive coverage pays for all vehicle repair damage or replacement value for incidents other than a collision such as the car being stolen or a tree falling on a car. There are minimum deductible limits for these coverage types, but drivers can also raise their deductible amounts to lower their premiums. Many lenders require vehicle owners to carry both Collision and Comprehensive coverage as part of their loans.
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