Reader’s Question:

I am buying a car from a private owner. What’s the minimum requirement to insure a car in Mississippi?

Ed

Jackson, Mississippi

Mississippi demands that the insurer should have a liability coverage in their insurance company of certain amount. That holds $25,000 for a person limited to a single accident, $50,000 for bodily injury per accident, and $25,000 for property damage on one accident. You could abide by the required minimum by posting a bond of the same minimum amount required, by carrying a liability insurance equal to the minimum amount, or creating a security deposit or by cash up to the minimum required.

The insurance law doesn’t hold a compulsory when you register a car. Once your motor vehicle is operated along roadways of the state, it necessary to show proof of liability at all times using an insurance card on each vehicle. It is important to keep such proof to avoid infractions which could drastically increase your premium rate too. The penalty for first-hand offense related to that is $1000 and suspension of driver’s license until such time you have shown proof of insurance.

If you already have an existing insurance policy, you need to contact your insurer to inquire whether they will extend your coverage policy to the added new vehicle.

I want to get a life insurance in Mississippi. Friends advised me to get life insurance with no medical exam because I’m already in my forties. Is that type of life insurance best suited for my age?

Justin

Jackson MS

With just your age as the basis, we cannot tell much what life insurance policy fits you. So, instead we will give you idea what is life insurance with no medical exam about, so you can decide if this is the type of insurance meant for you. Some insurance companies created the life insurance with no medical exam type of policy to answer the needs of those people who are classified as uninsurable by other insurers. This is to help people who get frustrated for being denied of insurance because they fail the medical exam, which is a requirement in applying for a life insurance policy. This type of insurance is commonly known as ‘guaranteed approval life insurance’ or ‘guaranteed issue life insurance.’

Policies of life insurance with no medical exam will no longer subject an applicant to some tedious underwriting procedures. It can be as easy as sending them the required money, and you get a guaranteed issue life insurance. But in exchange for the absence of medical exams, you are expected to pay higher premium – as high as 100% more than the typical life insurance that requires medical assessments. The price of guaranteed approval life insurance can be one of the downsides of this type of insurance. So before getting a guaranteed approval life insurance policy, it is best you check other options first.

You should apply first to term life insurance if you want pure life insurance policy. Or, if you want to have a policy that combines life insurance and investment, you can look into the permanent life insurance category. You mostly will get approved for term or permanent life insurance as long as you are healthy even at your age of forty. The premium can be higher because of your age but, mostly, it will still come as lower compared to the guaranteed life insurance’s premium.

If you are repeatedly denied of an insurance coverage, then it’s time you consider life insurance with no medical exam. People with advance stage of chronic disease or cancer, have mental or neurological diseases, diagnosed with AIDS or HIV combined with old age are the most likely candidate for guaranteed approval life insurance policy as they mostly will get be turned down for a regular term or permanent life insurance policy. If you can be classified as such, then you are more likely a candidate for guaranteed approval insurance in Mississippi.

Reader’s Question:

I had a DUI conviction a couple of years back, how will that affect premiums on my auto insurance in Mississippi?

Marla

Jackson, Mississippi

The minimum basic liability coverage for auto insurance in Mississippi includes $25,000 per person in a single accident, $50,000 per accident for bodily injury and $25,000 per accident damages to property. Having a driving under the influence conviction, however, will add an additional requirement for you: an SR-22 auto insurance policy.

The SR-22, which must be maintained for three years, is a proof of financial responsibility on your part.

Also, when you are taking out coverage for auto insurance in Mississippi, chances are you will see higher premiums because of the conviction. Remember that having a clean driving record helps keep premiums down because insurance companies see you as a low risk individual.

The good news is a DUI conviction does not stay on your record forever. In fact, for insurance purposes, it is reflected on your record for a maximum of three years. In the meantime, do not drink and drive, so that after three years, you would have a clean slate and better chances of getting cheaper premiums.

Take heart, there are other ways to get cheaper premiums on auto insurance. Be sure to shop around using the Internet or by calling up insurance companies. Be upfront about having the DUI conviction and ask if they have any discounts that you can avail from them.

Also, choose to pay for a higher deductible. In the event that you file a claim, the deductible is the amount you pay before the insurance company steps in. A mere $200 increase in deductible could cut your premiums by 25%

Drive an older car. Not only do older cars give you lower premiums, you can also do away with expensive collision and comprehensive coverage. If you have a problem with alcohol, which is what got you here in the first place, you might also want to consider driving less. That way you can avail of low mileage discounts on your auto insurance in Minnesota.

Reader’s Question:

I am a young driver and as a precautionary measure I decided to check the internet for a young driver insurance quote in Mississippi that suits my needs and budget. I thought it would be as easy as just clicking on several options and getting results but I didn’t know there were so many sub topics to choose from, help?

Kelly

Jackson, MS

It is quite aright to lbe confused when trying to get a quote for yourself over the internet. Most of us got used to the system where an insurance guy meets with us and gives us several options that are in a way tailor fit to our needs. Meeting with an insurance person is still an option but if you really want to get a young driver insurance quote on your own then here are a few things to consider that may help guide you.

The insurance company should ask you to enter your state or postal code. The insurance quote will vary from state to state, why? Because medical services and automobile repair rates vary from state to state and your insurance plan will adjust according to this 2 factors.

The insurance company will ask for the type of coverage you want. This is usually determined by what you want protected i.e. there are different options if you want to protect your car, the people who drive it, the property it may damage, or life it may damage because of an accident.

Once you identify the kind of protection you want you would also have to see how far you want to be protected, or arrange your coverage limits. You may choose to opt for a smaller coverage at a smaller premium rate or vise versa.

Reader’s Question:

What is the best car to buy, so that I get affordable auto insurance in Mississippi?

Thelma

Jackson, MS

Auto insurance providers have devised a system of categorizing vehicles into different groups. Since there are so many types of vehicles in the market, this system helps them better assess a vehicle’s corresponding insurance rates. The higher the category your vehicle belongs to, the higher the premiums it will be assessed with. So, whether you are going to buy a brand-new or previously owned vehicle, knowing the category it falls in helps you better plan your budget.

Most small and inexpensive cars with low performance engines are cheap to insure. However, you should also consider if the car has a high theft rate. If so, then your auto insurance premiums will be quite expensive. The Department of Motor Vehicles (DMV) has recorded 769 auto thefts in Jackson in 2007. The rate has increased in the first six months of 2008 with almost 900 vehicle theft incidents reported. The most frequently stolen cars are Chevrolet pickups, Ford F150 Series and the Chevrolet Caprice, so you might want to cross these off your list. You can visit the DMV website for more information on cars that have high theft rate. Another thing to bear in mind when shopping for car is its safety features. Make sure to buy one that has been equipped with these as standard equipment, so that your Collision and Comprehensive Coverage will be assessed with more affordable auto insurance rates.