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.
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
Going on business trips
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.
|Total registered vehicles
|Accident serious injuries
|Non-motorized fatalities and serious injuries
Your commercial auto insurance Mississippi will have several standard components, which include auto liability, collision, and comprehensive insurance.
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 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
In contrast to collision coverage, comprehensive coverage will protect your vehicles from other sources of damage besides collisions. Examples include:
Hitting an animal
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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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.
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.
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 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.
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 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.
This add-on will protect the damage and equipment you transport with your business vehicles during loading and unloading.
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.
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.
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
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 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
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.
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.
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.
Mississippi commercial auto insurance is $47 per month or $564 per year. Here’s a table comparing the rates of the best companies:
|Estimated Monthly Cost
|Estimated Yearly Cost
|Best overall for Mississippi commercial auto insurance
|Comparing commercial auto insurance quotes online
|Comparing commercial auto insurance quotes over the phone
|Short-term coverage for Mississippi businesses
|Bundling commercial auto insurance with other policies
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Below are our reviews of the best Mississippi commercial auto insurance companies. Read on to know their pros, cons, and average cost.
Offers options to customize your commercial auto insurance
File completely online
Allows customers coverage when they drive out of Mississippi
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
Trusted insurer with over 200 years of experience
Knowledgeable about the policies they sell
A convenient insurance calculator makes figuring out your rate easy
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
Save time by shopping your commercial auto policy from multiple partners
Manage multiple policies from a one-stop shop
Competitive selection of carriers
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
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
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
Convenient and flexible commercial auto insurance
Suitable for small and medium-sized businesses
An excellent app that Forbes mentioned
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
Covers Mississippi commercial auto insurance
14-day refund policy if you are unsatisfied.
Payment options with no additional fees.
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
Lonnie Bell Insuranker
Policy Type: Business Insurance
Company name: Employers Insurance
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!