Best Cheap Car Insurance for Homeowners in Mississippi

When shopping for auto insurance for people who own their homes, one of the many criteria that is used to help calculate the amount you pay each year for auto insurance is where your residence is. Areas with more people like Natchez, Clinton, and Vicksburg tend to pay more, whereas areas with less traffic congestion and claims generally pay less for auto insurance.

The following table shows the highest-priced places in Mississippi for homeowners to buy auto insurance in.

Information shown are approximated as the specific garaging location can lower or raise insurance rates greatly.

Deciding which company offers the cheapest auto insurance rates for homeowners involves a little more sweat than just quoting one company’s rates. Each company has their own unique process for determining rates in each state, so let’s look at the rankings for the auto insurance companies that tend to be cheaper in Mississippi.

It’s a good idea to be aware that Mississippi auto insurance rates are impacted by many things that can increase the price of coverage. Getting older, buying another vehicle, or having an at-fault accident can trigger rate changes that can make some companies cheaper in comparison to the competition.

Best Cheap Insurance Rates for Homeowners

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USAA may have some of the cheapest car insurance rates in Mississippi at around $815 per year. Travelers, Unitrin, Direct General, and ALFA would also be considered some of the cheaper Mississippi auto insurance companies.

As illustrated above, if you are a customer of Direct General and switched to Travelers, you could earn annual savings of roughly $340. Insureds with ALFA could save as much as $347 a year, and State Farm insureds might lower prices by $417 a year.

To find the best cheap car insurance for homeowners in Mississippi for your vehicle, click here to start your custom quote or visit any of the low-priced companies below.

These policy rates are averaged across all types of drivers and the different vehicles they drive and do not take into consideration a rate decrease for homeowners. So the insurer that fits your situation best may not even be featured in the company chart above. That is why you need to compare rates from as many companies as possible using your own specific driver information and vehicle.

We all have different tastes in cars, and the vehicle you are seeking coverage for is one of the primary factors that determines whether or not you find the best cheap car insurance for homeowners in Mississippi. Vehicles with higher performance characteristics, poor passenger safety features, or a high likelihood of having liability claims will cost quite a bit more to insure than more economical and safe models.

The next lists presents car insurance prices for a handful of the more afforable vehicles to insure in Mississippi.

Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Mississippi minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Table data does not factor in the specific area where the vehicle is garaged which can modify premiums considerably.

Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Mississippi minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Table data does not factor in specific garaging location which can lower or raise coverage rates considerably.

Data variables include single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Mississippi minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Premium amounts do not factor in specific zip code location which can increase or decrease premium rates noticeably.

Difference between liability only and full coverage rates

Finding the best cheap car insurance for homeowners in Mississippi is the goal of the majority of vehicle owners, and a great way to reduce the cost of insurance is to buy liability only. The example below shows the comparison of auto insurance costs with and without physical damage coverage. The premiums are based on a clean driving record, no claims, $500 deductibles, single marital status, and no discounts are factored in.

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If we average the cost for ages 20 through 70, physical damage coverage costs an extra $2,059 per year over liability only. Lot’s of drivers question if buying full coverage is worth the expense. There isn’t a written rule for excluding physical damage coverage, but there is a general guideline. If the yearly cost for physical damage coverage is about 10% or more of any settlement you would receive from your insurance company, then you might consider buying liability only.

For example, let’s pretend your vehicle’s book value is $10,500 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $9,500 after paying your policy deductible. If premiums are more than $950 annually for physical damage coverage, then you might want to think about dropping full coverage.

Is Geico, State Farm, Allstate, or Progressive cheaper?

When comparing auto insurance for people who own their homes in Mississippi, four of the larger companies to compare rates for are Geico, State Farm, Allstate, and Progressive. When added together, they make up almost half of the entire U.S. market share. The following table shows some of the different options and features that are available from each company.

How to find the best cheap car insurance for homeowners in Mississippi

The list below details many thrifty ideas that can help you find low-cost coverage.

• Avoid having at-fault accidents
• Maintain a clean driving record
• Raise comprehensive and collision coverage deductibles
• Pay lower rates with good credit
• Vehicles with safetly features generally cost less to insure
• If your vehicles are older, consider dropping full coverage
• Look for cheaper rates once a year by shopping around

That final tip is particularly crucial, as was discussed in the prior article. Coverage rates in Mississippi can be modified anytime, so don’t be afraid to buy a different policy if you can save money. Staying with the same car insurance company is fine, but it isn’t a good idea if that devotedness results in you overpaying lots of hard earned cash every month. Take a few minutes and compare prices to find cheaper car insurance for homeowners.