Mississippi Car Insurance Requirements
Purchasing liability car insurance is not necessarily required in Mississippi if a driver has the financial resources to satisfy the legal requirements through a cash deposit or a bond. But since few people have that kind of disposable cash lying around, the vast majority of the Magnolia State’s drivers opt to purchase car insurance.
The cheapest car insurance in the state is one that provides only the state mandated minimum liability protection. Drivers can add other types of coverage, like collision and comprehensive, if they want the extra protection offered by these coverages.
In January 2006 Minnesota law increased minimum liability amounts to 25/50/25. These three numbers represent different types of insurance coverage in tens of thousands of dollars. They are:
- $25,000 per accident to pay for injuries or death of a single victim
- $50,000 per accident to pay for injuries or deaths of multiple victims
- $25,000 per accident to pay for property damage liability
Minnesota is not alone in recommending drivers consider higher liability amounts when purchasing a cheap car insurance policy. They correctly note the rising cost of health care makes it easy to exhaust the minimum limits, leaving personal assets vulnerable.
Maintaining Valid Insurance in Mississippi
There are those who might buy a cheap car insurance policy in order to register their vehicles, and then allow that policy to lapse because they can’t afford it. This is not a wise idea. Failure to maintain your insurance will almost always result in a fine and a possible suspension of your registration.
If you’re caught driving without insurance, whether through a traffic stop or an accident investigation, you could face serious consequences. Fines for a first offense could be as high as $1000 and be accompanied by a mandatory registration suspension. Subsequent offenses carry even higher fines and longer terms of suspension.
If you live in Mississippi don’t forget that you’re required by law to carry the insurance ID card sent by your provider in your vehicle at all times. If you’re pulled over during a routine traffic stop you must show that card to the police officer. You’ll also have to produce it if you’ve been involved in an accident in which the police are called. If you don’t have the card in your car when requested you’ll most likely receive a ticket.
If you’ve chosen to meet the financial responsibility law through a cash deposit or a bond, you should have documentation from the DMV stating as such. This documentation takes the place of the insurance ID card you would normally carry in your vehicle.