Jan. 1 Auto Rate Hike

Thousands of drivers in Mississippi will see their auto insurance rates increase dramatically after Jan. 1, when the minimum required coverage will double, increasing costs, even for those who have less than the minimum coverage.

Liability insurance coverage required to pay for damages to vehicles and other property in an accident will increase from $10,000 to $25,000; injury and death coverage will increase from $10,000 to $25,000 for one person, and from $20,000 to $50,000 for injury or death involving two or more people.

Earlier in 2005, the Mississippi Legislature increased the minimum coverage requirements when lawmakers agreed the old requirements were insufficient. At that time Mississippi had the lowest insurance minimum coverage requirement of any state, followed by Florida and Louisiana.

Topics Auto Pricing Trends Mississippi