The cheapest car insurance in Georgia can be easy to find if you know how. Remember, though, that a low rate isn’t necessarily the most critical feature of an insurance policy.
Purchasing the most inexpensive insurance might save you money up front, sure, but if an accident occurs and you haven’t obtained adequate coverage from a reliable insurance provider, there’s a good chance you’ll have to pay out of pocket for expensive auto repair bills.
When you’re buying insurance, it’s best to shop comparatively by requesting quotes from multiple providers and researching the customer ratings, policy offerings, discounts, and credit ratings for each one.
When insurance providers calculate rates, they consider many factors about you and the car you drive.
Some of these factors include your age, gender, driving record, and the make and model of your vehicle; while others pertain to your specific geographic location and have to do with traffic conditions and theft rates.
Once you understand how these elements make up the complicated calculations that determine your insurance premiums, it becomes easier to know which questions to ask so you can find an insurance provider that offers the best value.
The information below is meant to help you understand insurance rate calculations so that you’re able to find the cheapest car insurance in Georgia.
How Much is Car Insurance in Georgia?
Understanding the average price of car insurance for drivers throughout Georgia and surrounding areas is the best way to determine if you’re being quoted reasonable rates by the insurance providers you’re considering.
In Georgia, the average price of car insurance is slightly higher than the national average and increased approximately $136 between 2011 and 2015, according to the National Association of Insurance Commissioners.
When you compare the average rates in Georgia with neighboring states, its price is on the high end. However, rates in Florida are higher yet, priced at more than $200 above the national average.
|Average Cost of Car Insurance in Georgia||$1,048.40|
|Average Cost of Car Insurance in Alabama||$868.48|
|Average Cost of Car Insurance in Florida||$1,257.14|
|Average Cost of Car Insurance in South Carolina||$973.10|
|Countrywide Average Cost of Car Insurance||$1,009.38|
It’s important to remember that these rates reflect more than just the average driver’s age, gender, and vehicle.
They’re also determined by many factors that include the conditions of each state’s geographic regions such as traffic density and theft rates.
Georgia is a state with highly populated metropolitan areas and sparsely populated rural zones, meaning that the traffic density and accident rates in the state vary greatly depending on the region.
It’s important to remember that the National Association of Insurance Commissioners (NAIC) numbers state averages and do not necessarily provide an accurate indication of the conditions in all areas of Georgia.
In large cities such as Atlanta and Savannah you can expect these numbers to be much higher, while in rural areas that are located far outside of major cities, the numbers are considerably lower.
According to the NAIC traffic density report, Georgia’s traffic density is 874,838. Traffic density is calculated by comparing the number of miles traveled by all the registered vehicles in the state against the total miles of highway in the state. The national average traffic density is a little lower at 724,348.
When comparing the total number of miles traveled per registered vehicle, Georgia’s average is 14,010, which is quite a bit above the national average of 12,010.
Fatal accidents in Georgia occur at a rate of 0.15 per 1,000 vehicles. The national average is slightly lower, at 0.13 per 1,000 cars.
Drivers in Georgia living outside of major cities may find that they’re paying lower insurance premiums than stated above, as the traffic density and fatal accident rates are lower in areas that are less densely populated.
Vehicle Theft Rates
The Insurance Information Institute publishes a yearly list of the top ten states with the most auto thefts, as well as an annual list of the ten with the least thefts. As of 2017, Georgia does not appear on either of these lists. In Georgia, an estimated 259.9 auto thefts per 100,000 residents occurred in 2016.
This figure is only slightly higher than the countrywide average, which is 236 auto thefts per 100,000 residents.
The National Insurance Crime Bureau’s Hot Wheels Report reports annually on the most frequently stolen vehicles in each state. In 2016, Georgia’s most commonly stolen cars were Ford Pickups and Honda Accords.
A total of 1,055 Ford Pickups and 951 Honda Accords were taken in Georgia that year alone. Other vehicles that are commonly targeted by thieves in Georgia include Chevrolet Pickups, the Toyota Camry, and Nissan Altima.
If you’re looking for the cheapest car insurance in Georgia, you’ll find better luck if you purchase a vehicle with low theft rates.
Georgia has a population density of 170 persons per square mile, which is nearly double the national average of 90 persons per square mile. Of these, 80.8 percent of Georgia’s residents live in large cities like Atlanta or Savannah.
This is significant to insurers, because, though the population density of your area doesn’t have a direct effect on your insurance rates, it does lead to more vehicles in your area.
A place with more cars also has higher accident and theft rates, as well as higher traffic density. The corresponding risk to your insurance provider is, therefore, higher, and so are your premiums.
If you choose to live outside metropolitan areas with lower population densities, you can usually find an insurance policy with lower rates.
In states that have high average disposable incomes, there are typically a higher number of registered vehicles with expensive price points attached to them.
These vehicles cost more to replace or repair in the event of an accident, and therefore, increase the risk to insurance providers. In areas that have high average disposable incomes, insurance rates are typically a bit higher for this reason.
According to the NAIC, Georgia’s average per capita disposable income per person in 2014 was $34,558. Throughout the U.S., the average per capita disposable income was $40,859 in 2014, which is considerably higher than Georgia’s.
Companies with the Cheapest Car Insurance in Georgia
Buying car insurance is a process that should take time and research. It’s essential to compare rates from at least three insurance providers when you’re buying insurance, as well as to take your time to research the financial strength, customer reviews, and policy offerings from each.
Aside from finding a provider with a low rate, this helps you make sure you’re buying insurance from a company that can reliably pay out your claims and provides you with a hassle-free claims process.
One of the best ways to find reliable insurance is by shopping with reputable companies, such as:
Progressive: Progressive is a large home and auto insurance provider that serves more than 16 million drivers around the world. It offers competitive rates with its Name Your Price Tool, which allows drivers to customize their coverage and pay a rate that suits their budget.
MetLife: MetLife offers individual and group insurance plans that cover home, auto, life, medical, and dental expenses. Auto insurance customers of MetLife benefit from features such as towing and roadside assistance, loan/lease gap coverage, and a new car replacement program.
Allstate: Allstate offers highly competitive rates and boasts that its customers save an average of $356 per year after switching from another provider. It has many benefits for auto insurance policyholders including Safe Driver Bonus Check, roadside assistance, and a broad range of discounts.
Liberty Mutual: Liberty Mutual offers competitive rates on auto insurance that save its customers an average of $509 per year. Its auto insurance features a New Car Replacement program, as well as a 12-month rate guarantee and customizable coverage.
What is Mandatory for Car Insurance in Georgia?
State governments are responsible for regulating insurance and setting forth auto insurance requirements for drivers in the states.
In George, the Office of Insurance and Fire Safety Commissioner is responsible for this. According to this office, all drivers in Georgia must carry liability insurance in the following minimum amounts:
- $25,000 for bodily injuries per person
- $50,000 for total bodily injuries per accident
- $25,000 for property damage
In Georgia, insurance providers are required by law to submit your insurance status to the Georgia Electronic Insurance Compliance System.
This database is used by law enforcement and government agencies to verify said status when drivers register or renew their vehicle, as well as during traffic stops.
Drivers must carry their proof of insurance card so they can exchange information in the event of a car accident. However, it does not qualify as valid proof of insurance.
Driving without car insurance in Georgia can result in suspension of your driver’s license, and you may have to pay high fees to regain your driving privileges.
How to Reduce the Cost of Your Car Insurance
Although car insurance seems like a huge expense, it doesn’t always have to be.
Some steps can be taken to minimize the cost of insurance, such as:
- Reducing your mileage by choosing carpools and public transit whenever possible
- Lowering optional coverage on older vehicles (A good rule of thumb is by seeing if the value of your car is less than ten times the cost of your policy. If it is, consider lowering your coverage.)
- Increasing your deductible
- Understanding and taking advantage of the discounts offered by your insurance provider
Most top insurance companies make it easier for you to find the cheapest car insurance in Georgia by providing a range of discounts.
Some of these discounts are designed to reward good driving behaviors and safer vehicles, while others recompense customers for paying their policies in full, or for setting up automatic payments.
Some insurance providers also offer good grades discounts for teen and student drivers. To receive an accurate rate inclusive of all discounts, make sure to have the following information on hand when purchasing your policy:
- Your approximate budget for the policy
- Your full home address and information about where you’ll be parking the vehicle(s) you’re insuring
- The full names, dates of birth, and driving histories for all drivers on your policy
- Details about all cars you’re insuring, including their make, model, year, condition, vehicle identification number, and safety features
- School grades for any teen or student drivers on your policy
What Can Increase the Cost of Your Car Insurance?
In the same way that there are factors that can decrease the cost of your insurance, there are also several things that can result in a higher insurance rate, such as:
Driver Experience: Teen drivers and new drivers who have little experience on the road are charged higher insurance rates until they have gained several years of experience.
Driver Age: It’s not just teen drivers who pay higher rates. Senior citizens typically pay higher prices as well due to their high accident rates and potential for health and vision problems.
Safety Ratings: If your vehicle has poor safety ratings or no listed ratings by an organization such as the NHSTA or IIHS, you’re more likely to be charged a higher rate for auto insurance.
Using the information above, you should now feel confident in asking the right questions to secure the cheapest car insurance in Georgia from the best insurance providers.
*While we make every effort to keep our site updated, please be aware that “timely” information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.