Is carrying the state-minimum liability limits in Mississippi a bad idea?

"I live in Mississippi and have been carrying state-minimum car insurance for a while now.

I was speaking with an insurance agent and he really freaked me out! He said that I could be sued and wouldn't have enough coverage to protect myself. Is this true?"

Answer
“I’m sure the insurance agent didn’t mean to freak you out! However, carrying the state minimums does leave you open to possible lawsuits.
For Mississippi, the bodily injury liability limits are $25,000 per person and $50,000 per occurrence, and the property damage liability limit is $25,000.
The average cost of a hospital stay after a car accident is around $57,000. The average cost of a new car on the road today is about $40,500. As you can see, it would be easy to exceed the state minimums.
When it comes to insurance, it is better to carry the highest limits that you can afford. In most cases, raising the liability limits on your car insurance policy costs much less than you think it would! “
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Shannon Martin
Answered on May 14, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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