Mississippi Car Insurance Laws
The compulsory liability automobile insurance laws of Mississippi require all motorists to carry a specific amount of coverage before being legally allowed to operate a motor vehicle. Residents that wish to drive must maintain a policy that consists of at least $25,000 for bodily injury liability to one person, $50,000 per accident, and $25,000 property damage liability.
Apart from purchasing Mississippi auto insurance residents may also fulfill MS coverage laws by posting a bond for the same amounts that are previously listed, or by making a cash or security deposit that is equal to these values as well. Although these are plausible options, residents are urged to not only purchase a vehicle protection plan, but to shop around for a policy that provides a sufficient amount of coverage to keep a motorist adequately prepared for a variety of damages.
To ensure that motorists have purchased an appropriate amount automobile coverage, all registered vehicle owners are required to carry proof of insurance within the insured vehicle. If a driver is stopped by an officer of the law and is unable to produce a policy card or any another form of coverage verification they may face a penalty of up to $1,000 and suspension of all driving privileges for a year, or until the offending driver is able to provide adequate proof. To avoid these penalties motorists are encouraged to purchase the required amount of compulsory liability coverage.
Optional MS Auto Insurance CoverageAccording to the Insurance Research Council over 28% of motorists in Mississippi were uninsured in 2009. It is important to note that a motorist that only has the minimum amount of vehicle protection that is required by the state is not covered against a collision with such a driver. Liability strictly covers property damages or bodily injury that are caused by the policyholder, up to the limits of the policy, but not the insured’s own automobile. If a driver chooses to purchase Uninsured/Underinsured Motorist protection they will likely be covered against an array of damages that may be caused by an individual that is devoid of automobile protection, has an insufficient amount of coverage to pay for all resulting damages, or from a hit-and-run driver.
If a resident vehicle owner wishes to purchase a policy that covers a wider range of damages that could befall their own automobile, they may wish to purchase comprehensive and collision coverage as an addition to one’s policy. As the name suggests, the collision portion of this additive covers damages caused by a collision, regardless of fault, up to the limits of the policy. The comprehensive portion, however, covers a wide range of damages that are independent of a collision. This could include damage caused by fire, flooding, vandalism, theft, falling objects, or hail. Motorists are encouraged to investigate a variety of policies with varying amounts of vehicle protection in order to locate low cost auto insurance that is able to provide as much vehicle coverage as possible while still remaining affordable priced.