Stay-At-Home To-Do: Review Your Insurance Policy
The COVID-19 pandemic has led many to spend much more time at home. Some have used this time to complete DIY projects around the house while others have picked up a new hobby. Many have used this time for self-improvement.
One good way to make use of the increased time spent at home is to review your finances and see if there are any areas that can be improved, including reviewing your car insurance policy.
Below, we discuss the various components of a car insurance policy so you can decide what you may want to add or remove from your own plan.
What Are the Minimum Car Insurance Requirements in Mississippi?
Virtually every state has minimum requirements for car insurance. In Mississippi, all drivers must have liability insurance and carry proof that the vehicle is insured. Liability insurance pays for the medical bills and property damage caused by the at-fault driver.
The required coverage includes:
$25,000 liability coverage for bodily injury or death of one person in an accident caused by the owner/driver of the insured vehicle
$50,000 liability coverage for total bodily injury or death liability in an accident caused by the owner/driver of the insured vehicle
$25,000 liability coverage for property damage per accident caused by the owner/driver of the insured vehicle.
Optional Car Insurance Coverages in Mississippi
There are several other types of car insurance coverage that are not required by state law, but may be beneficial to you as a driver. These include:
Collision: Collision coverage pays for damages to your vehicle caused by contact with another vehicle. You would pay the cost of repairs up to your deductible (usually anywhere between $500-$2,000), and then your insurer would pay the rest.
Comprehensive: Comprehensive pays for damages to your vehicle caused by external factors such as weather events or vandalism. Again, you would pay your deductible, and then your insurer would pay the rest of the cost.
Uninsured/underinsured motorist: UM/UIM pays for damages caused by a driver with little to no insurance coverage. This would be beneficial for all Mississippians to carry, since Mississippi ranks second in the country for the number of uninsured drivers at 23.7%.
Need Help with Car Insurance or an Accident? Contact Us Today
If you need help recovering the compensation you deserve after a car accident, our Jackson personal injury attorneys are one phone call away. We can negotiate with insurance companies while you focus on your recovery.