Mississippi Commercial Auto Insurance: Quotes From $30/mo

Mississippi ranks first among the deadliest roads in America. The National Highway Traffic Safety Administration data found Mississippi had the highest rate of road deaths per capita. Mississippi had 25 road deaths for every 100,000 people.

As a Mississippi business owner, you worry about doing business on the road. You never know when an unexpected lawsuit can threaten to bankrupt you with court costs. One way to protect the financial security of your business is through commercial auto insurance. This article will examine what you need to know about the invaluable insurance policy.

What is Commercial Auto Insurance?

A commercial auto insurance policy protects your business’s vehicles when used for work-related activities. This policy includes most reasonable working activities. Examples include:

  • Transporting a client

  • Deliver materials

  • Running errands

  • Going on business trips

Auto Accident Statistics in Mississippi

See the chart below to get an idea of Mississippi’s different auto accident statistics. This data came from the Department of Transportation in 2020.

Population 2,967,000
Total registered vehicles 2,058,975
Accident fatalities 752
Accident serious injuries 3,360
Non-motorized fatalities and serious injuries 323


Components of Mississippi Commercial Auto Insurance

Your commercial auto insurance Mississippi will have several standard components, which include auto liability, collision, and comprehensive insurance.


Auto Liability

This policy covers your business from bodily injuries and property damage your vehicles cause to others. With this policy, you can get covered for financial losses that you need to pay for and the costs of legal fees.


Collision

Collision coverage will let your commercial auto policy cover instances of physical damage to your car from different collisions. The events covered by collision include:

  • Striking another moving vehicle

  • A moving vehicle striking your parked vehicle

  • Hitting a stationary object

  • Colliding with a road object

  • Your vehicle flipping over

Comprehensive

In contrast to collision coverage, comprehensive coverage will protect your vehicles from other sources of damage besides collisions. Examples include:

  • Fire

  • Theft

  • Hitting an animal

  • Vandalism

  • Window damage

  • Falling objects

  • Weather events

If you work in a higher-risk industry, you want to invest in a comprehensive policy. This policy is perfect for drivers who spend much time on the road. The more chances you take with your vehicles, the more likely they will encounter a road accident. Some areas in Mississippi are more likely to experience floods and hurricanes. If your business operates in those areas, you must protect your vehicles.

Your business’s commercial property insurance will exclude events related to vehicles. This makes a comprehensive policy essential for protecting your business from theft and vandalism if you operate in a high-crime area.

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Add-Ons to Mississippi Commercial Auto Insurance

Your Mississippi commercial auto insurance policy can be further enhanced through add-ons. These add-ons will help you obtain additional driver coverage and business vehicle coverage.


Auto Glass Coverage

This policy is sometimes called windshield insurance by insurers. This policy acts like a comprehensive insurance policy but only covers your vehicle’s windows. The advantage of this coverage is that it is much cheaper than collision coverage. You usually only need to add a few dollars to your premium to get this protection for your vehicle. It can be handy to fix cracks in your vehicle glass early before they get out of control.


Gap Coverage

You can use gap insurance to cover the difference between insurance payouts and what you owe on a vehicle. If you decide to finance a vehicle, you may need more to repay the loan if your vehicle gets totaled. Gap coverage will help pay that loan, so you aren’t stuck paying for a broken vehicle.


Rental Reimbursement Coverage

Rental reimbursement is a policy designed to pay for temporary rental vehicle use. If your business’s primary vehicle is in the repair shop, you may have a difficult choice. You might have to decide between suspending business operations or paying for a rental vehicle. With this policy, you can get your rental vehicle with less cost to you.


Uninsured Motorist Coverage

This policy will cover damage caused by other parties who lack insurance. If someone hits your vehicle and causes injury, you hope they have enough liability protection to cover it. With uninsured motorist coverage, you can get the difference in insurance they don’t have supplemented. Typically uninsured motorists will cover medical costs by default, but some forms cover physical damage also.


Roadside Assistance Coverage

Roadside assistance is a policy add-on that will pay for any costs related to your vehicle breaking down. You can get services like towing to help get your vehicle to a repair shop. This policy can also cover services like getting a battery jump or tires changed if they go flat.


Loading and Unloading Coverage

This add-on will protect the damage and equipment you transport with your business vehicles during loading and unloading.


Hired and Non-owned Auto Coverage

This policy will extend protection to vehicles that your business does not own. You can get coverage for vehicles that employees use for business reasons. It will also cover rented and leased vehicles that you may be using. It is essential to note that hired and non-owned auto coverage will mainly only cover liability for these vehicles. This means it will often not cover damage to these vehicles.


An employee operating a work vehicle.


Mississippi Commercial Auto Insurance Requirements

Commercial auto insurance Mississippi must follow specific auto insurance coverage minimums set forth by state laws. Below are a few different requirements that your commercial auto policy must contain.


Auto Liability

All vehicle insurance policies must mean minimum liability limits of 25/50/25. This figure describes the amount of personal injury and property damage protection your policy must have.

Bodily injury per person Bodily injury per accident Property damage liability
$25,000 $50,000 $25,000


Mississippi Commercial Auto Insurance Exclusions

Your commercial auto policy will cover many types of incidents. However, there are some notable exceptions you should be aware of. These include:

  • Handling property: Your policy can cover loading property on and off your vehicle. However, this will be excluded if your property gets damaged before or after the loading process.

  • War: This policy will not cover war-like actions, rebellions, or insurrections.

  • Pollution: Pollutants and hazardous materials you transport, unload, or process in a vehicle will need additional coverage called pollution insurance.

  • Intended injury: If your drivers cause intentional bodily injury or property damage, you will not get coverage for this event. This can also describe driving while intoxicated and performing actions likely to lead to injury.

Mississippi Commercial Auto Penalties

Mississippi may impose a penalty on any driver that maintain  proof of adequate insurance coverage. These penalties include:

  • Suspension of license and vehicle registration for 12 months

  • A fine between $500 and $1,000

  • Conviction of a misdemeanor crime

Am I Legally Required to Carry Auto Insurance in Mississippi? 

Yes. All drivers are legally required to carry a minimum amount of auto insurance coverage and carry proof of this coverage while operating a vehicle.


Is Mississippi a No-fault State?

No. Mississippi is an at-fault state. This means that whoever is responsible for causing an accident in Mississippi is responsible for the damages they cause to others. Your auto liability protection will cover bodily injury your vehicles inflict on others and damage to their property.


What Affects the Cost of My Mississippi Commercial Auto Insurance Policy?

The cost of your premiums is affected by a few factors. First, the number of vehicles you have will increase your cost. Having to protect more vehicles means there is a higher likelihood of the insurer having to pay out for an accident.

The type of vehicle you are insuring makes a difference as well. Higher-cost vehicles will cost more to protect them with insurance. You might have trouble finding coverage if you have a claims history with a high frequency of incidents. You will want to seek insurers offering specialized high-risk auto insurance policies. Similarly, the driving records of employees you name on the policy will also factor into your costs.

Lastly, the policy deductible you choose and the limits of coverage you need will determine your monthly premium. A higher deductible means you pay more out of pocket for damages and enjoy a lower monthly premium. If you need higher coverage limits for losses, you predict you will also have to pay a higher premium.

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Mississippi Commercial Auto Insurance Cost

Mississippi commercial auto insurance is $47 per month or $564 per year. Here’s a table comparing the rates of the best companies:

Company Estimated Monthly Cost Estimated Yearly Cost Best for
NEXT $30 $360 Best overall for Mississippi commercial auto insurance
The Hartford $35 $420 Insurance expertise
CoverWallet $33 $396 Comparing commercial auto insurance quotes online
Tivly $36 $432 Comparing commercial auto insurance quotes over the phone
Thimble $39 $468 Short-term coverage for Mississippi businesses
Hiscox $42 $504 Bundling commercial auto insurance with other policies

Compare Cheap Commercial Auto Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Mississippi Commercial Auto Insurance Companies

Below are our reviews of the best Mississippi commercial auto insurance companies. Read on to know their pros, cons, and average cost. 


NEXT Insurance

Pros 

  • Offers options to customize your commercial auto insurance

  • File completely online

  • Allows customers coverage when they drive out of Mississippi

Cons

  • None found

NEXT is a highly-rated insurer that offers a excellent options for your commercial auto insurance. You can choose between important policies like rental reimbursement and uninsured motorist. NEXT has an A- rating from AM Best. AM Best rates companies based on their financial stability. NEXT has a B+ rating from the Better Business Bureau.

Best for: Best overall for Mississippi commercial auto insurance

Average cost: $30 per month 

Our rating: 10/10


The Hartford Insurance

Pros

  • Trusted insurer with over 200 years of experience

  • Knowledgeable about the policies they sell

  • A convenient insurance calculator makes figuring out your rate easy

Cons

  • Discounts can be harder to take advantage of

The Hartford is a trusted insurance company with over 200 years of experience. You can purchase your Mississippi commercial auto policy with the input of their expert insurance agents. The company has an A+ rating from the Better Business Bureau. AM Best gives them an A- rating for their financial backing.

Best for: Insurance expertise

Average cost: $35 per month

Our rating: 10/10


CoverWallet Insurance

Pros

  • Save time by shopping your commercial auto policy from multiple partners

  • Manage multiple policies from a one-stop shop

  • Competitive selection of carriers

Cons

  • Not an insurance company but an insurance broker

CoverWallet is a digital platform for comparing and buying insurance policies. You can pick your commercial auto policies from partners like Hiscox, Progressive, and Markel. CoverWallet operates in 48 states, including Mississippi. They maintain an A+ rating from the Better Business Bureau.

Best for: Comparing commercial auto insurance quotes online

Average cost: $33 per month 

Our rating: 10/10


Tivly Insurance

Pros

  • Over 200 partners to choose from, many with commercial auto policies that work in Mississippi

  • Answers your call within 4-seconds

  • They help you narrow down your choices from the huge selection of options

Cons

  • You need to call to compare quotes 

Tivly offers services to match you with its network of over 200 partners. You can select from excellent insurers like The Hartford, Progressive, and Liberty Mutual. Tivly has an A rating from the Better Business Bureau. Call now to compare quotes over the phone. 

Best for: Comparing commercial auto insurance quotes over the phone

Average cost: $36 per month 

Our rating: 10/10


Thimble Insurance

Pros

  • Convenient and flexible commercial auto insurance

  • Suitable for small and medium-sized businesses

  • An excellent app that Forbes mentioned

Cons

  • Policy offerings are simple

Thimble is a fast-growing insurer that started operating in 2016. In that time, they have sold over 125,000 policies that totaled over $150 billion. They are an insurance broker that covers over 300 professions. With Thimble, you get coverage quickly and are not committed to a policy term you do not want. Thimble has an A+ rating from the BBB.

Best for: Short-term coverage for Mississippi businesses

Average cost: $39 per month 

Our rating: 10/10


Hiscox Insurance

Pros

  • Covers Mississippi commercial auto insurance

  • 14-day refund policy if you are unsatisfied.

  • Payment options with no additional fees.

Cons

  • Online quoting not available all the time due to periodic site maintenance

Hiscox is an insurance provider that lets customers customize their commercial insurance. Each policy is tailored to your individual needs. This means you pay for the coverage you need without being forced to buy a generic policy. Hiscox has an A rating from AM Best.

Best for: Bundling commercial auto insurance with other policies

Average cost: $42 per month 

Our rating:  10/10

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