Best Cheap Auto Insurance for College Graduates in Mississippi

We always joke that when we write about auto insurance, the words cheap or affordable shouldn’t be used anywhere in the article. Notwithstanding, cheap auto insurance for college graduates is almost non-existent. But don’t despair, because we will tell you how you can get auto insurance that fits into your budget.

The vehicle you are seeking coverage for is one of the largest factors when shopping for low-cost insurance for college graduates. Vehicles with more horsepower, a lack of safety features, or high incidents of liability claims will cost quite a bit more to insure than safer, lower-performance models.

The information below showcases auto insurance prices for some of the cheaper vehicles to insure in Mississippi.

Prices above based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Mississippi minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Prices do not factor in vehicle garaging location which can change coverage rates substantially.

Based on these rates, you can presume that cars like the Honda CR-V, Chevrolet Traverse, Volkswagen Jetta, Ford Explorer, and Subaru Forester are likely to be a few of the less-costly vehicles to insure for college grads.

Finding out which companies quote the lowest-priced auto insurance rates for college graduates may require a bit more work than just getting one or two price quotes. Each company has their own guidelines for setting rates, so let’s take a look at the auto insurance companies with the overall cheapest rates in Mississippi.

We do need to point out that Mississippi auto insurance rates are determined by lots of factors that can increase the price you pay for coverage. Improving your credit rating, marrying your spouse, or getting a speeding ticket may cause policy rate changes that may make certain companies cheaper than before.

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google.charts.setOnLoadCallback(drawMST5qcibChart);function drawMST5qcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }], [‘USAA’, 839, ‘#FF5733’], [‘Travelers’, 1030, ‘#D4482A’], [‘Unitrin’, 1133, ‘#B03C23’], [‘Direct General’, 1278, ‘#92321D’], [‘ALFA’, 1337, ‘#792918’]]);var options = {title: ‘Top Five Most Affordable Auto Insurance Companies in Mississippi’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1437,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibt5cic’));chart.draw(view, options);}

USAA may have some of the cheapest car insurance rates in Mississippi at around $839 each year. Travelers, Unitrin, Direct General, and ALFA also qualify as some of the best Mississippi car insurance companies.

In the rate table above, if you currently have coverage with Travelers and switched to USAA, you might realize an annual premium reduction of upwards of $191. Drivers with Unitrin may save as much as $294 a year, and Direct General customers might see rate reductions of $439 a year.

To compare your rates to other Mississippi insurance companies, click here to get a free quote or visit several of the following companies.

It’s important to note that these estimates are averaged across all ages of drivers and types of vehicles and and are not calculated with a rate decrease for college graduates. So the auto insurance company that is most affordable for your situation may not even be shown in the list of companies above. That is why you need to get rate quotes using your own personal information and vehicle type.

Liability-only versus full coverage

Finding the best cheap car insurance for college graduates in Mississippi is important to the majority of vehicle owners, and an effective way to find cheaper insurance is to not pay for full coverage. The diagram below illustrates the difference between auto insurance costs with and without full coverage. The data is based on no accidents or driving violations, $100 deductibles, marital status is single, and no discounts are taken into consideration.

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If averaged for all ages, physical damage insurance costs $2,474 per year more than insuring for liability only. That amount may make you wonder when is it safe to stop buying full coverage. There is no set guideline of when to drop physical damage coverage, but there is a general convention. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s say your vehicle’s claim settlement value is $10,500 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $9,500 after the deductible is paid. If you are currently paying more than $950 annually to have full coverage, the it may be a good time to stop paying for full coverage.

Drive responsibly or pay higher rates

The easiest way to earn affordable auto insurance rates in Mississippi for college grads is to drive safely and avoid at-fault accidents and violations. The example below demonstrates how citations and accident claims can affect car insurance rates for different age groups of insureds. The price estimates are based on a single male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.

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The data charted above shows the average cost of auto insurance in Mississippi per year with no violations or accidents is $2,474. Get written up for two speeding tickets and the average cost jumps to $3,287, an increase of $813 each year. Then add in one accident along with the two speeding tickets and the yearly cost of auto insurance for college graduates increases to an average of $4,119. That’s an increase of $1,645, or $137 per month, just for not being more responsible behind the wheel!

How to find economical insurance for college graduates

Lowering your rates is not difficult, and here are many money-saving ideas that can help drivers locate more affordable coverage.

• Multi-policy discounts save money
• Avoid at-fault accidents and claims
• Drivers with good credit often pay less
• Full coverage is expensive so only insure older vehicles for liability only
• Lower rates by purchasing a safer vehicle
• Shop around for cheaper rates regularly

That last tip is notably critical, as we stressed in this write-up. Insurance prices change constantly, so don’t hesitate to change insurance companies if a cheaper rate is available.

Being loyal to a particular company is commendable, but it’s not a great idea if that faithfulness ends up costing you hundreds of dollars a year. Now is a great time to compare prices to find cheaper insurance for college graduates.