Cheapest Car Insurance for Low-Income Drivers in Mississippi (October 2024)

Direct General Insurance offers the cheapest car insurance for individual drivers with low income and poor credit in Mississippi at $33 per month. For families with low income, Progressive is the most affordable provider at $22 per month. Mississippi does not offer state-backed car insurance programs for families and individuals with low income. Finding the most affordable provider is one option to manage costs, and there are also ways to get discounts to help alleviate the cost of car insurance.

Although minimum coverage will help you drive legally, it has downsides. For example, minimum coverage may not cover all damages in an at-fault accident, leaving you with significant out-of-pocket expenses.

Car insurance companies in Mississippi do not consider income when calculating your car insurance rates. Instead, they look at factors like age, driving record, credit history and the type of car you drive. At-fault accidents and moving violations can also increase your rates. The best way to find the cheapest rates is to compare quotes from several insurance companies. This helps you see which provider offers the most affordable plan for your situation.

If your budget is tight, a basic minimum coverage policy is often the cheapest way to stay legal on the road. If you rarely drive, pay-per-mile insurance might be the best option to save money. MoneyGeek rounded up the cheapest insurers for drivers with low income in Mississippi to help you save.

To legally drive in Mississippi, you must have car insurance that meets the state minimum car insurance requirements. Your policy must include at least the following coverage amounts:

• $25,000 for bodily injury liability per person
• $50,000 for bodily injury liability per accident
• $25,000 for property damage liability per accident

Mississippi law requires drivers to carry liability-only car insurance at a minimum. This coverage pays for the other driver's expenses if you're at fault in an accident, but it doesn't cover damages to your vehicle. For more comprehensive protection, including your own vehicle's damages, you'll need a full coverage car insurance policy. This includes both collision and comprehensive coverages, safeguarding against various incidents, such as accidents, theft and natural disasters.

Understanding the risks and benefits of different coverages can help you determine the right insurance for your needs.

Your credit record can affect your car insurance rates in Mississippi. A lower credit-based insurance score may signal to insurers that you're a higher risk, which can lead to more expensive premiums.

Mississippi drivers with poor credit records can find affordable rates with:

• Direct General Insurance: $398 per year; $33 per month
• Progressive: $455 per year; $38 per month

The cheapest car insurance in Mississippi for drivers with low income and good credit history are:

• Direct General Insurance: $306 per year; $26 per month
• State Farm: $315 per year; $26 per month

Driving without insurance in Mississippi is considered a misdemeanor and can lead to suspension of your driver's license and vehicle registration, fines ranging from $175 to $1,000 and other penalties. Make sure you're covered to drive legally and safely.

While your income doesn't directly impact car insurance rates, your family situation can. In Mississippi, a single parent with a teen faces an annual premium of $1,310, whereas married couples with a teen enjoy a lower rate at $265, saving $1,045 per year.

The most affordable car insurance providers for married couples with a teen in the Magnolia State are:

• Progressive: $265 per year; $22 per month
• Nationwide: $848 per year; $71 per month

For single parents with a teen, the cheapest options are:

• Progressive: $1,310 per year; $109 per month
• State Farm: $1,339 per year; $112 per month

The gap in premiums reflects the risk insurers associate with different family structures. Single parents may find their rates higher due to the perceived added risk. Keeping a strong credit score is essential for securing more affordable car insurance rates.

Car insurance premiums generally decrease as you reach the early senior years (typically around age 55 to 65), especially if you have a clean driving record. The two cheapest car insurance companies for seniors with low income and poor credit history are:

• Progressive: $412 per year; $34 per month
• Direct General Insurance: $424 per year; $35 per month

After the age of 70, car insurance rates typically increase as older drivers are statistically considered higher risk. This trend continues each year, meaning premiums generally rise as seniors age. There are specific guidelines for seniors getting car insurance in Mississippi, so it's important to stay informed.

Income doesn't directly affect car insurance rates in Mississippi. However, if a low income leads to a poor credit record, this can result in higher rates. Conversely, good credit can help you get lower rates. Understanding the factors contributing to car insurance rates can help you make informed decisions when choosing the best car insurance for you.

You don't need a state-sponsored program to cut costs — finding affordable car insurance in Mississippi is possible with the right strategies. Here are some tips to lower your premiums:

Finding affordable car insurance for drivers with low income in Mississippi is often difficult due to high rates. Get answers to some of the most commonly asked questions about low-income car insurance in the Magnolia State.