How Much is Car Insurance for Drivers with Bad Credit in Mississippi?

I’m sure you’ve seen the commercials from insurers like Liberty Mutual and The General that promise huge savings. So drivers should just choose the one with the flashiest ad, right?

It’s just not that simple, as there are a whole bunch of unknown factors like what physical damage coverage deductibles you want, how much liability insurance you need, and your vehicle’s safety rating, that all impact the cost of your policy. In this article, we will teach you about the best ways to shop for cheaper coverage and should give you a good start to your coverage search.

Comparing quotes for affordable car insurance is tough enough, and finding out which company has the best insurance rates for drivers with bad credit takes more quotes for comparison. Rates should be moderately greater than the state average attributed to the potential for higher claims associated with selling insurance for people with poor credit, but affordable insurance may be attainable if you carefully shop around.

Each auto insurer uses slightly different criteria for establishing rates, so first we will examine the most affordable insurance companies in Mississippi. Keep in mind that Mississippi insurance rates are influenced by many factors that may substantially change the cost of having a policy. This is why drivers need to compare many different companies to get the best auto insurance rates for drivers with bad credit. Prices consist of many factors and can increase or decrease at any time, so the most affordable company the last time you compared rates may now cost much more than other companies.

Find the Cheapest Auto Insurance with Bad Credit

Start Your Free Quote

USAA offers some of the best car insurance rates in Mississippi at around $807 a year. Travelers, Unitrin, Direct General, and ALFA would also be considered some of the lowest-priced Mississippi car insurance companies.

In the above rates, if you currently have coverage with Direct General and switched to USAA, you could earn an annual savings of in the vicinity of $484. Insureds with ALFA may save as much as $584 a year, and Safeway customers might realize rate reductions of up to $593 a year.

To find cheap insurance for drivers with bad credit in Mississippi, click here to start a quote or click several companies below for low rates.

Remember that these prices are averaged for all ages of drivers and types of vehicles and and are not calculated with a rate increase for drivers with bad credit. So the auto insurance company that is best suited for you may not even be shown in the rate chart shown above. That emphasizes why you need to get car insurance quotes using your own specific driver information and vehicle.

The model of vehicle to be insured is a large consideration in finding cheap insurance for drivers with bad credit in Mississippi. Vehicles with high performance, poor safety features, or an increased likelihood of liability claims will cost more to insure than more economical and safe models. The data below showcases auto insurance rates for a number of the most affordable automobiles to buy insurance for.

Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Mississippi minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Rate information does not factor in specific location information which can affect prices substantially.

Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Mississippi minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Price information does not factor in garaging location in Mississippi which can affect rates noticeably.

Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Mississippi minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Premium costs do not factor in specific garaging location which can raise or lower insurance rates greatly.

Get discount Mississippi car insurance

Car insurance companies that sell cheap insurance for drivers with bad credit in Mississippi may have premium discounts that can reduce rates by 35% or more if you are eligible. A list of insurance companies and their possible discounts are included below.

• Travelers has savings for hybrid/electric vehicle, new car, good student, IntelliDrive, and home ownership.
• 21st Century offers discounts including automatic seat belts, anti-lock brakes, teen driver, air bags, and good student.
• State Farm has discounts for student away at school, defensive driving training, multiple policy, anti-theft, and Drive Safe & Save.
• GEICO may offer discounts for emergency military deployment, seat belt use, driver training, air bags, defensive driver, and anti-theft.
• SAFECO offers discounts for bundle discounts, anti-theft, drive less, multi-car, and safe driver.
• AAA includes discounts for good driver, education and occupation, AAA membership discount, good student, and anti-theft.

The information below illustrates the comparison of insurance costs with and without some available policy discounts. The data assumes a male driver, no tickets, no at-fault accidents, Mississippi state minimum liability limits, comp and collision included, and $100 deductibles.

The first bar for each age group shows premium with no discounts. The second bar shows the rates with homeowner, defensive driving course, accident-free, passive restraint, vehicle safety, and marriage discounts applied. When drivers qualify for the discounts, the average savings per year on insurance for drivers with bad credit is 28% or $698.

Comparison of full coverage and liability-only policies

Finding cheap insurance for drivers with bad credit in Mississippi is probably important to the majority of vehicle owners, and one easy way to find cheaper insurance is to only pay for liability coverage. The example below illustrates the difference between premium costs with full phyical damage coverage and with liability coverage only. The premium estimates are based on no claims or driving violations, $100 deductibles, marital status is single, and no discounts are taken into consideration.

As an average for all age groups, comp and collision coverage costs $2,518 per year over and above liability only. That may make you wonder if it’s a good idea to buy full coverage. There is no definitive guideline of when to exclude comp and collision coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.

There are some circumstances where removing full coverage is not in your best interest. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not buy liability only.

Is the best company Progressive, State Farm, Allstate, or Geico?

When buying car insurance, the four most popular companies are Progressive, State Farm, Allstate, and Geico. If you combine them together, they insure almost half of all auto insurance policies in force. The table below compares some of the ratings and options that are available from each company.