The minimum auto insurance that the state of Mississippi requires is a 25/50/25 liability-only policy. What this means is that your policy will pay a maximum of $25,000 in medical bills for any one individual who is injured as a result of an accident with your vehicle, with a maximum of $50,000 in medical payments for all people involved in the accident, regardless of how many people are involved and regardless of the extent of their injuries. Additionally, your minimum liability policy will pay a maximum of $25,000 for the repair or replacement of the other party’s property (typically their vehicle). If you want to be fully protected then you will need to purchase a full coverage automobile insurance policy. To get full coverage you will need to purchase a liability policy plus a collision policy plus a comprehensive policy plus a personal injury protection policy plus uninsured motorist coverage. Each type of policy protects you from something different.
Your comprehensive policy pays for the repair or in some cases the replacement of your vehicle if it is stolen or if it is vandalized or if it is damaged by natural causes such as wind or flooding or fire. Your comprehensive insurance is the one that pays for the repair of your vehicle if you run into a deer or other large animal. Keep in mind that in most cases your collision or comprehensive insurance will not pay any more than the current Kelly Blue Book value of your vehicle – not the replacement cost. If your vehicle is being financed your lender will require that you purchase full coverage auto insurance, but even if you aren’t dealing with a lender you still may choose full coverage automobile insurance simply for the peace of mind it provides – not to mention the asset protection. Whether you are buying basic liability insurance or a full coverage policy, you are likely to find the best deal through one or more of the online auto insurance price comparison websites.