Mississippi Auto
Insurance
Beginning in 2006, Mississippi law required that
all drivers maintain liability insurance and in accordance with Mississippi auto insurance law your insurance
information card must be carried in your vehicle at all times. In accordance with Mississippi car
insurance law, the initial penalty for failing to maintain an insurance card is $1,000 and suspension of
driving privileges for one year or until the motor vehicle owner shows proof of insurance. State law says that a
law enforcement officer cannot stop you solely to check if you have an insurance card, but he or she can ask you
for proof of insurance during a stop for any other statutory violation.
In Mississippi, the minimum liability requirements are
$25,000 per person (limited to a single accident), $50,000 per accident for bodily injury, and $25,000 per accident
for property damage (25/50/25).
Technically, you, as a Mississippi driver, can legally satisfy these
requirements by:
* Showing proof of liability insurance with bodily
injury and property damage limits at least equal to the minimum requirement.
* Posting a bond for these same
amounts.
* Making a cash or security deposit equal
to the minimum requirements.
However, for the vast majority of people,
automobile liability insurance is the most effective way to protect yourself financially in case of an automobile
accident. Maintaining it in your vehicle is now the law. State law says that a law enforcement officer cannot stop
you solely to check if you have an insurance card, but he or she can ask you for proof of insurance during a stop
for any other statutory violation. The initial penalty for failing to maintain an insurance card is $1,000 and
suspension of driving privileges for one year or until the motor vehicle owner shows proof of
insurance.
Liability coverage pays for damage you cause to other people
and their property. It protects your assets and wages from seizure and litigation. However, you should realize that
in today’s era of ever-rising medical costs and auto repair bills, the state-mandated minimum requirements of
25/50/25 may not be sufficient. It is a good idea to consider purchasing liability coverage with higher limits.
Remember, if you are at fault in an accident, liability coverage will only pay up to your limits of insurance. You
will be responsible for any damages over that amount. You will need to purchase other kinds of coverage if you want
the insurance company to pay for your medical bills and vehicle repairs.
To help pay for "reasonable and necessary" medical expenses
for both you and your passengers there is Personal Injury Protection (PIP) that can be added to your coverage. PIP
is not a requirement under MS state law but some insurance carriers offer PIP coverage.
Many states with compulsory liability laws still have
substantial numbers of uninsured motorists – those without any form of automobile insurance. If an uninsured
motorist hits your car, you may not be able to collect damages. However, if you purchase Uninsured/Underinsured
Motorists (UM/UIM) protection, you can make a claim for your injuries or damages through your own insurance
company.This type of coverage is optional as Mississippi state law does not require this
coverage.
Other optional coverages that can be added to your
auto insurance policy include collision, comprehensive, and medical payments components. Collision coverage will
pay for the cost of repairing damage to your car caused by an impact with a vehicle or object. Comprehensive
coverage will reimburse you if your car is stolen. Medical payments coverage will pay the expenses of persons
injured in an accident regardless of fault. If your car was financed, most often your lender will require you to
carry collision and comprehensive coverage.
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