Mississippi Auto Insurance
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Mississippi Auto Insurance Requirements
All Mississippi requires is that its drivers have liability insurance. If you cause an accident, liability insurance, including bodily injury liability and property damage liability, pays the costs associated with any damage to individuals and property resulting from the accident. Understand however that the insurer will only pay up to the maximum limits you choose. If your chosen liability limits are too low, the claimant can sue you. If successful, your assets can be seized and your wages garnished if necessary to satisfy all claims.
What are the minimum liability limits in Mississippi?
The state requires a minimum of 25/50/25 liability coverage or $25,000 per person or $50,000 per accident for bodily injury liability and at least $25,000 for property damage liability. That sounds like a lot of coverage and it is. But once you understand what each covers, it may not be enough. Bodily injury includes medical expenses, payment for lost wages, and pain and suffering. Property damage liability pays to repair the other person’s vehicle, and to repair buildings, signs, guardrails and other types of property damaged in the accident.
Exceeding the limits
A single accident with a serious injury can easily exceed these limits which is why you may want to consider purchasing more than the Mississippi mandated limits. Such a decision is purely optional. What’s also optional is any other auto insurance coverage you purchase.
Optional coverage pays off
Since liability doesn’t protect your car, consider purchasing optional Collision coverage that covers repair costs when your car is damaged in a collision for which you are at fault. If your care is stolen, vandalized, or suffered damage due to adverse weather, optional Comprehensive coverage covers needed repair costs. Both only cover expenses up to your chosen limits and only pay what’s left over after you satisfy the deductible.
Don't get caught uninsured or under insured
Uninsured/Underinsured Motorist coverage pays your bodily damage expenses should you get in an accident with an uninsured driver or you’re hurt in a hit and run accident. With household budgets shrinking, many motorists are driving without any or with insufficient coverage so this is worth considering.
Mississippi Insurance Department
More information about auto insurance is available by calling 800-562-2957 or by visiting the Mississippi Insurance Department website, http://www.mid.state.ms.us/.