The economic crisis has affected everybody’s lives. People have to plan their finances with a lot of care today. If you own a car, its maintenance will take up a lot of money. You will also have to buy auto insurance for it as auto insurance has been made mandatory in most of the states. Mandatory auto insurance ensures that in case of an accident, the at-fault driver has enough finances to pay for all the damages caused. This is known as financial responsibility laws.
The state of Mississippi follows the tort system. Therefore, a person who has caused the accident will have to pay for all the damages. This is not similar to the no fault system where each person has his damages paid for by his insurance company. This makes auto insurance all the more important. Thus, one has to buy auto insurance today.
However, auto insurance can be quite expensive. The minimum liability fixed by the state of Mississippi is of the amount of twenty five thousand dollars for bodily injury per person and fifty thousand dollars in total per accident covering two people. Property damage coverage for the amount of twenty five thousand dollars is also necessary.
Bodily injury will cover all the medical costs incurred by the not at fault driver and property damage will cover the costs of repair and replacement work on his car. Property damage will also cover the costs of any damage caused to buildings, fences and lamp posts. This is just the minimum sum fixed by the government. Most of the accidents will cost a lot more money. The insurance industry experts say that most of the accidents will be covered with insurance for a hundred thousand dollars per person and three hundred thousand dollars in total for bodily injury.
These are very large sums but getting auto insurance does not have to be as expensive. There are many discounts available and make sure you know about all of these discounts to take advantage of it. If you have more than one car, you can get all of the cars insured at the same place. This will help you get the multi vehicle discount. You can club insurance together.
Review your finances carefully and if you need to get some other kind of insurance along with auto insurance, buy it from the same vendor. This will help you get a discount and save money overall. If you have a student in your house with good grades, you can get the good student discount. Most of the student will get high rates. This discount will help them reduce the rates slightly.
You can try and attend the DMV classes for driver education. This might cost you a small amount but the discount you get will make up for it easily. People driving in carpools will get a discount. They will also be saving fuel and doing their bit for the environment. People, of age greater than fifty but lesser than sixty five, are some of the safest drivers. These people are bound to get a discount.