Cheapest Auto Insurance in Oxford, Mississippi (2024)

Car insurance in Oxford, Mississippi, costs an average of $65 per month for liability-only coverage and $167 per month for full coverage. This is roughly on par with the statewide costs of $74 for liability coverage and $198 for full coverage.

Oxford’s smaller population of around 26,000 probably contributes to its lower car insurance costs. But this college town — home to the University of Mississippi — has lots of students on the roads, which could result in higher insurance premiums for some drivers. Here’s how to find the lowest car insurance rates possible in Oxford.

3 of the cheapest car insurance companies in Oxford

The following table offers you an overview of the leading insurance companies in Oxford to help you find a company that best aligns with your budgetary needs. While you may ultimately choose a different insurer, starting your search with these three can be beneficial. Always remember the best insurer for you depends on your personal needs and situation.

Best insurer for low rates: State Farm

Best insurer for military members: USAA

Best insurer for discounts: Travelers

How to get the cheapest car insurance in Oxford

Car insurance companies base their rates on several factors, including your age, the type of car you drive, your credit, and even the ZIP code where you park your car at night.

While some of these factors are out of your control, the following strategies can help you keep your auto insurance costs as low as possible:

• Bundle insurance policies. Many insurance companies offer discounts for customers who buy two or more policies from them. Consider shopping for auto and home insurance or renters insurance at the same time to tap into these discounts.

• Select a higher deductible. Choosing a higher deductible for your comprehensive and collision coverage means you agree to pay more out of pocket when you have a claim. Increasing your deductible from $200 to $500 could reduce the cost of these coverages by up to 30%, according to the Insurance Information Institute.

• Ask about discounts. Many auto insurance companies offer discounts to people who maintain a clean driving record, install anti-theft devices, take a defensive driving course, or take other steps to lower their risk. Ask your insurer what discounts it has available, and make sure you take advantage of as many as you can.

• Shop around. Rates vary from company to company, so shopping your policy with several different insurance companies is the best option for finding the best coverage at the lowest rate. An insurance price-comparison platform makes it easy to compare rates from several different insurers at the same time to find the best rates for you.

Cheapest liability-only car insurance in Oxford: State Farm

Liability car insurance pays for the other party’s medical bills and property damage in an accident you cause. However, it doesn’t cover damage to your vehicle or your medical costs if you’re injured. As such, liability-only coverage is generally the most affordable. But liability insurance doesn't pay for damages to your vehicle in an at-fault accident, so you need to carefully consider your ability to cover potential out-of-pocket costs.

Liability-only policies in Oxford cost $65 per month, on average. This table shows average monthly quotes for liability-only coverage from the top insurers in Oxford.

Cheapest full-coverage car insurance in Oxford: State Farm

Full-coverage car insurance combines liability insurance with comprehensive and collision coverages, so it's more expensive than minimum coverage. Comprehensive insurance covers damages to your car caused by incidents other than collisions, such as fire, theft, vandalism, and natural disasters. Collision insurance covers your car’s repair or replacement if it’s damaged in an accident with another vehicle or an object.^[1]

Drivers in Oxford pay an average of $167 per month for full-coverage insurance. The table shows the cheapest full-coverage car insurance quotes in Oxford.

Car insurance requirements in Mississippi

To drive legally in Mississippi, you must have liability coverage that meets the following minimum requirements:^[2]

The coverage amounts above meet the minimum requirements in Mississippi. But if you want protection that goes above the minimum, you may consider adding one or more of the following optional coverages:

• 

  Collision coverage

  Collision coverage reimburses you for damage to your own vehicle due to a collision with another vehicle or object.

• 

  Comprehensive coverage

  Comprehensive insurance reimburses you for theft or damage to your car due to events other than a collision, such as fire, vandalism, or hail.

• 

  Medical payments coverage

  This coverage provides reimbursement for medical expenses for injuries to you or your passengers involved in an accident.

• 

  Uninsured/underinsured motorist coverage

  Uninsured motorist coverage protects you if you’re hit by a driver without insurance or by a hit-and-run driver. Underinsured motorist coverage helps when the other driver doesn’t have high enough limits to cover your bodily injury or property damage.

• 

  Glass coverage

  This coverage pays to repair or replace your windshield, windows, and sunroof with no deductible.

• 

  Gap coverage

  This pays the difference between the fair market value of your vehicle and what you owe on your auto loan if it’s stolen or totaled in an accident.

Cheapest car insurance for drivers with an incident

In the context of car insurance, an incident refers to events such as speeding tickets, at-fault car accidents, driving under the influence (DUI), and other moving violations. Incidents typically result in higher car insurance premiums because insurers view drivers with incidents on their records as more likely to make a claim in the future.

In the sections that follow, you’ll see how different incident types can affect your insurance premiums.

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Cheapest car insurance for drivers with a speeding ticket: State Farm

A speeding ticket on your record may raise your rates, but the good news is they’ll likely go down once the ticket is off your record. Oxford drivers with a speeding ticket pay $100 per month for liability-only insurance and $257 for full coverage, on average.

The table below provides an overview of the car insurance companies in Oxford that offer the most affordable monthly liability-only quotes for drivers with a speeding ticket.

Cheapest car insurance for drivers with an at-fault accident: State Farm

If you have an at-fault accident on your driving record, insurance companies might view you as a high-risk driver, which could result in increased premiums. If you live in Oxford and have an at-fault accident on your record, you’ll pay an average of $104 per month for a minimum-coverage policy, and $267 for full coverage.

The table below provides an overview of the car insurance companies that offer the most competitive minimum-coverage monthly quotes for drivers with an at-fault accident.

Cheapest car insurance for drivers with a DUI: State Farm

Insurers see a DUI as one of the most serious offenses, and if you have one on your record, your rates will certainly climb. Some insurers may drop you altogether due to the increased risk of claims. Oxford drivers with a DUI can expect to pay an average of $117 per month for liability-only insurance and $301 for full coverage.

The table below offers a comprehensive overview of the insurers that provide the most affordable monthly liability-only quotes for Oxford drivers with a DUI on their record.

Cheapest car insurance for seniors: State Farm

Experienced drivers tend to be safer on the road, so insurance companies often decrease rates for drivers once they reach middle age. However, rates increase once again as drivers reach senior status. This later increase is due to the increased risks associated with senior drivers, including slowed reflexes and the increased severity of injuries during an accident.

Research shows drivers age 70 and older are involved in more fatal crashes per mile traveled than middle-aged drivers.^[3] Insurance companies increase rates to account for the increased risk.

Oxford seniors pay $46 on average for a liability-only policy and $119 for full coverage. The below table lists the companies with the lowest average monthly car insurance quotes for senior drivers in Oxford, Mississippi.

Cheapest car insurance for teens: USAA

Auto insurance rates for teen drivers tend to be higher than those for adults because young drivers have less driving experience and are prone to taking more risks behind the wheel. This puts them at a higher risk of being involved in an accident.

Some ways to save on the cost of coverage include keeping teens on their parents’ insurance policy and taking advantage of discounts, including those for good students and taking a driver’s education course.

Oxford teens can expect to pay a monthly average of $142 for minimum coverage and $365 for full coverage. The table below shows companies offering the lowest monthly car insurance quotes for teen drivers in Oxford.

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Oxford car insurance quotes by credit tier

Mississippi, like many other states, allows insurers to consider credit history when underwriting auto insurance policies. Generally, drivers with excellent or good credit pay significantly lower rates than drivers with poor credit.

The chart below shows the average car insurance quotes you’ll pay in Oxford, by credit tier.

Is car insurance more expensive in Oxford?

Car insurance in Oxford averages $65 per month for liability-only coverage and $167 per month for full coverage. This is lower than the national averages of $104 per month for liability only and $213 for full coverage.

Part of the reason for this price difference may be Oxford’s population of only about 26,000. Oxford is also a very walkable city, meaning fewer cars on the roads than in larger cities, and drivers are less likely to be involved in an accident.

More cities in Mississippi

The table below shows the average monthly quotes for car insurance in other cities in Mississippi so you can see how those rates compare to Oxford.

Oxford car insurance FAQs