Mississippi apparently has a perfect storm brewing with respect to auto insurance rates. The state has long led the country in vehicle repair costs, has recently seen an increase in not only the total number of car accidents, but also in the number of drunk driving crashes, and has seen reduced law enforcement presence on state and local roadways. These issues have combined to result in what many believe will be a whopping insurance increase for Mississippi drivers.
According to the state Insurance Commissioner, insurance carriers in Mississippi are expected to ask for rate increases of between 10 and 20 percent over the next several months. Others have said that initial increases may be lower, but the trajectory is the same. Insurers operating in Mississippi have seen mounting costs associated with auto insurance and, as a result, it won’t be long until the insurers attempt to pass along those costs to drivers.
One of the biggest factors in the increasing insurance rates is that vehicle repairs costs have ballooned, up more than 16% in recent years. Beyond that, the frequency of car wrecks on Mississippi roads and highways has also taken a big jump. The Mississippi Highway Patrol says that there have been a 10 percent increase in crashes since the beginning of this year when compared with numbers from 2015.