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What to do After a Hit-and-Run in Mississippi – Bankrate.com

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We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
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Mississippi has the highest estimated number of uninsured motorists, at 29.4% of drivers, according to 2019 data published by the Insurance Information Institute. Uninsured drivers and risks of hit-and-runs involving uninsured drivers are both compelling reasons to ensure you have your own complete auto insurance coverage. If you are involved in a hit-and-run accident in Mississippi, the average annual full coverage car insurance premium increases from $1,782 to $2,803—a 57% increase.
Mississippi comes in 20th for traffic fatalities, according to 2019 data from the US Department of Transportation. While not all fatalities involve hit-and-runs, the penalties are not light for this type of incident. Hit-and-runs are defined as a driver being involved in an accident and fleeing the scene. Not only is it illegal to leave the scene of an accident, the result can be steep fines and penalties, and potentially major consequences with auto insurance.
Mississippi law dictates all drivers must stop immediately if involved in an accident. Failure to do so is considered a hit-and-run. If found and convicted, not only do the hit-and-run drivers face possible steep increases in insurance premiums, but the legal consequences are severe. Mississippi determines the penalties based on the seriousness of the accident. A failure to stop at the scene of an accident can result in:
If the hit-and-run accident results in death or severe disfigurement, the penalties include:
If you are the driver who is found at-fault in a hit-and-run, it will have a substantial impact on your insurance premiums, based on Bankrate’s 2020 study of quoted annual premiums from Quadrant Information Services. Before a hit-and-run, the average cost of full coverage car insurance in Mississippi is $1,782 per year. With a hit-and-run conviction factored in, that rate increases about 57%, to $2,833 per year for the same coverage.
Average annual full coverage premiums:
In Mississippi, drivers convicted with a hit-and-run charge may also be required to file an SR-22 form for three years. The SR-22 form costs a nominal additional amount each year you have to file, but is legally required for circumstances like being at-fault for a hit-and-run. It represents proof that the driver has purchased the minimum insurance required by law.
A vehicle crash of any kind can be scary, but adding a hit-and-run element to the experience makes it even more stressful. The most important concern is for the safety of you and your passengers, but there are other steps you may want to follow if you are the victim of a hit-and-run, which could help you in dealing with the aftermath.
If you are the victim of a hit-and-run in Mississippi, you have a few options with your own insurance coverage, depending on which ones your policy includes.
If you carry the optional collision coverage, this coverage would help pay for any damages to your vehicle as a result of the hit-and-run. Keep in mind, you typically have a deductible specific to collision coverage, which represents the portion of the claim costs for which you are financially responsible.
Another optional coverage that could help with a hit-and-run is uninsured motorist coverage, which is required to be offered in Mississippi — though it can optionally be declined in writing by drivers. It not only covers medical expenses for you and your passengers, but it also covers lost wages and other related costs, such as funeral expenses. If you have personal injury protection coverage (PIP), this could help pay medical expenses for you and your passengers too. While not required in the state of Mississippi, it is another valuable type of financial protection for incidents like a hit-and-run.
The national average cost for car insurance is $1,674 per year, for a full coverage policy. However, Mississippi’s average auto insurance rates are much higher than the national average. The average cost of insurance in Mississippi is $1782 per year, according to Bankrate’s 2021 study of quoted annual premiums.
Mississippi requires uninsured motorist coverage to be offered, but it can be declined in writing if a driver prefers to go without. The state does mandate drivers must maintain minimum liability coverage, including $25,000 per person for a single accident, $50,000 per accident for bodily injury and $25,000 per accident for property damage. Purchasing the bare minimum in auto insurance could leave you financially vulnerable in a case of an accident, especially when it involves a hit-and-run.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Incident: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single DUI conviction and lapse in coverage.
Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. Bankrate.com does not include all companies or all available products.
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