Cheapest Auto Insurance in Madison, Mississippi (2024)

Less than a 30-minute drive to the state’s biggest city, Madison combines the comfort of a small community with the convenience of a big city. But the proximity to a large city comes at a price. Car insurance in Madison, Mississippi, costs an overall average of $146 per month, higher than the state average of $157.

You can take steps to find cheap car insurance and find the right coverage, though. Some of the city’s best insurers, like State Farm, USAA, and Safeco, have insurance costs that are nearly half the city’s average. Here’s what you need to know about finding cheap car insurance in Madison.

3 of the cheapest car insurance companies in Madison

As a driver in Madison, you can find the best car insurance options from State Farm, USAA, and Allstate. Your finances and the type of coverage you need will help determine which company is the best fit.

As you search for insurance in Madison, consider your budget, driving record, and coverage needs.

Best insurer for cheap rates: State Farm

Best insurer for military members: USAA

Best insurer for pay-per-mile coverage: Allstate

How to get the cheapest car insurance in Madison

Different factors influence how much you pay for car insurance. Some deciding factors, like age and location, are out of your control, but you can take steps to lower your car insurance costs.

The following strategies can help you get the most competitive car insurance rates:

• Compare quotes. It’s critical to compare quotes from multiple insurers before you move forward with a policy. You can compare quotes online or call the insurer and provide your mileage estimate, car information, phone number, email address, and other contact information.

• Choose a safer car. The type of car you drive affects how much you pay for car insurance. You can typically pay less if you select a car with enhanced safety features.

• Research discounts. Learn about the available discounts and ask your car insurance agent or licensed representative to check if you qualify for any on your list. Insurers offer various discounts, including safe driving, customer loyalty, and referrals.

• Bundle your home and auto insurance. You can also bundle insurance products like renters, life, and home insurance with auto insurance.

• Strategize coverage amounts. Understand the type of insurance you have. Read the coverage limits in your current policy. You don’t want your limits to be too high or too low. For example, you could choose a lower amount if you have an older car that isn’t worth as much.

Cheapest liability-only car insurance in Madison: State Farm

Mississippi, like most states, mandates that drivers have liability car insurance.^[1] The coverage protects you if you cause an accident. Still, it only helps with repairs and medical expenses for the other driver and their passengers. It doesn’t help pay for damages to your vehicle, so it's best for drivers who have older, less-expensive vehicles without a car loan.

Madison residents pay an average monthly rate of $79 for liability-only car insurance. Here are some of the best rates for liability coverage in Madison.

Cheapest full-coverage car insurance in Madison: State Farm

Full-coverage car insurance provides drivers with liability coverage and meets the state-minimum requirements for car insurance, but it costs more than liability-only insurance. It also includes comprehensive and collision, which can help pay for your car repairs if you’re in an accident. Car lenders and leasing companies generally require drivers to buy full coverage car insurance when they finance or lease a vehicle.

On average, full coverage costs Madison drivers $213 per month. Below are some of the cheapest options for full-coverage auto insurance in Madison.

Car insurance requirements in Mississippi

The state of Mississippi requires drivers to have liability insurance to ensure that they can cover the expenses associated with an accident. Drivers must have coverage for bodily injury and property damage.

As an at-fault state, Mississippi law requires the driver who causes the accident to pay for the associated repairs and medical expenses.^[1]

Here are the minimum-coverage amounts for drivers in Mississippi:

Even though state-mandated coverage provides some financial protection, you may want additional coverage in the form of extra policies or higher limits. For example, if you cause an accident and the other car is totaled, it might cost more than $25,000 to replace, leaving you responsible for the costs.

Also, lenders and leasing usually require collision and comprehensive coverages as a condition of purchase if you finance or lease a car.

Here are standard coverage options that extend beyond the state requirements for Mississippi:

• 

  Comprehensive coverage

  If your car is damaged due to something other than a collision, comprehensive coverage helps pay for repairs.

• 

  Collision coverage

  If you’re responsible for a car crash, collision coverage helps pay for your repairs.

• 

  Glass coverage

  If there’s damage to your windows or windshield, this coverage helps pay for repairs.

• 

  Gap coverage

  If you finance your car and the amount you owe is more significant than what the car is worth, gap coverage helps pay the difference if your vehicle is totaled.

Cheapest car insurance for drivers with an incident

Your driving record affects your car insurance rates. Violations like speeding, driving under the influence (DUI), and at-fault accidents cause policy changes, including increased rates.

It’s possible to find insurance companies offering competitive rates after an incident, but comparing rates to find the best deal is important. Here’s how you can expect your rates to increase after specific driving incidents in Madison.

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Cheapest car insurance for drivers with a speeding ticket: State Farm

Speeding tickets indicate to insurers that you’re more likely to file a claim due to reckless driving. Because of that, tickets cause your car insurance rates to increase, but you can still find solid pricing.

Madison drivers with a speeding ticket face an average monthly cost of $112 for liability-only coverage and $301 for full coverage. Here are some of the cheapest liability-only car insurance quotes for drivers with speeding tickets in the city.

Cheapest car insurance for drivers with an at-fault accident: State Farm

When you cause an accident, it appears on your driving record as an at-fault incident. It’s usually visible on your record for a few years, which means that your insurance rates are generally more expensive during that time as a result.

In Madison, drivers with at-fault accidents average $114 per month for liability-only auto insurance and $308 for full coverage. Below are some of the lowest monthly minimum-coverage rates for drivers with an at-fault accident in the city.

Cheapest car insurance for drivers with a DUI: State Farm

A driving under the influence (DUI) violation causes your car insurance rates to increase. Drunk driving can also lead to other severe consequences, like jail time, license suspension, and non-renewal of your insurance policy. It can be stressful to navigate auto insurance after a DUI, but some insurers specialize in high-risk coverage.

The overall average monthly cost of car insurance with a DUI in Madison is $130 for liability-only coverage and $351 for full coverage. Here are some of the lowest liability-only car insurance quotes for drivers with a DUI in the city.

Cheapest car insurance for seniors: State Farm

Your age significantly affects how much you pay for car insurance. Rates decrease steadily throughout adulthood and are usually the lowest around retirement age. But once drivers hit age 70, rates change again, and drivers can expect an increase.

Madison seniors can find liability rates as low as $59 per month and full-coverage rates for as low as $160 per month. Below are average monthly car insurance quotes for senior drivers in the city.

Cheapest car insurance for teens: State Farm

Teenage drivers usually pay the most for car insurance out of all age groups due to their inexperience and higher accident rates. Insurers view them as more likely to file a claim and charge them higher rates to account for that extra risk.

If you’re a parent who needs insurance for a teenage driver in your family, try different strategies to lower the costs — choose a car with enhanced security features, encourage your teenager to qualify for good student discounts, and complete an approved driver education course.

But most importantly, gather quotes from multiple insurers, ask questions, and compare options for the best deal. Teen drivers in Madison pay an average of 150 per month for liability-only coverage and 405 per month for full coverage.

Here are some of the cheapest insurers for teenage drivers in Madison.

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Madison car insurance quotes by credit tier

As a driver in Mississippi, your credit history affects your car insurance rates. Insurance companies consider credit as a risk factor when determining rates.^[2]

Insurers consider you riskier to insure if you have poor credit. As a result, your insurance costs more. But the reverse is also true — if you have excellent or good credit, you typically pay less for car insurance.

Here’s what you can expect to pay in Madison based on your credit score category.

Is car insurance more expensive in Madison?

Car insurance costs an overall average of $146 per month in Madison, compared to the national average of 158 per month.

Compared to cities in Mississippi that are similar in size, Madison drivers tend to pay slightly more for car insurance. But even within the same city, your car insurance costs can vary from one area to the next.^[3] For example, drivers who park in a garage typically pay less than drivers who park on the street.

More cities in Mississippi

As the 11th-largest city in the state, Madison is a relatively small city. Drivers in larger cities can typically expect to pay more for car insurance. But Madison’s proximity to Jackson, the largest city in the state, likely influences the city’s car insurance rates, which are higher than the state average.

Drivers in similarly sized cities, like Oxford, can expect to pay slightly less for car insurance since they’re further from a major metropolis.

Madison car insurance FAQs