Finding cheap car insurance in Georgia can seem difficult. The state has three of the busiest highways in the nation. When there is more traffic, there is also a greater chance of being involved in accidents and insurance claims. Georgia also has a high percentage of uninsured drivers, which drives up insurance rates for everyone. While finding inexpensive insurance can take some work, it is possible with the help of Velox Insurance.
Why is car insurance so expensive in Georgia?
Automobile insurance costs are increasing in Georgia and throughout the U.S. Auto insurance premiums increase as the costs of providing insurance rise. The increasing costs of auto insurance are shared by all insured drivers. This is why you might see your rates increase each time that you renew your policy even if nothing has changed. Some factors are specific to Georgia that makes insurance expensive in the state.
Georgia has some of the busiest highways in the U.S. The state also granted insurance companies to raise rates without first securing the state insurance commissioner’s approval. In 2019, there were 1,507 traffic fatalities on the state’s roadways. When there are a high number of injury and fatality accidents, the number of claims and payouts go up and lead to an increase in insurance rates.
The cost of repairing cars is also increasing. When repair costs increase, auto insurance rates are affected because insurance rates have to take into account the potential repair costs when policies are written. Georgia also has a high percentage of uninsured drivers, which drives up the rates for drivers who are insured. The Insurance Information Institute reports that 12% of Georgia drivers were uninsured in 2015.
The cost of health care also impacts auto insurance rates in Georgia because auto insurance companies pay out the most for medical bills when accident injury claims are filed. Health care costs have been increasing each year in Georgia and the rest of the U.S., causing auto insurance rates to also go up.
Finally, auto insurance rates in Georgia are also higher because of the potential for severe weather. Flooding, tropical storms, tornados, and other major weather events are becoming increasingly common. Frequent storms cause an increase in the number of insurance claims, which also leads to rate increases.
How much is car insurance per month in Georgia?
The monthly average car insurance rates vary in Georgia, depending on several factors. For example, the average monthly rate for teen drivers between the ages of 16 and 19 is $256.76. By contrast, the average monthly rate for drivers in their 50s is $114 per month. The average monthly costs for insurance by age decreased from the teen years through each decade of life until people reach their 60s. From there, the average monthly rates begin increasing as people enter their 70s and 80s.
Other factors, including gender, marital status, credit score, and homeownership status also influence the average rates for car insurance in Georgia. High-risk drivers and those who are currently uninsured can also expect to pay higher average rates. Finally, the type of coverage options that are selected will also influence the average monthly premiums that you might expect to pay.
How much is car insurance in Atlanta?
Like other states, Georgia requires drivers to have at least a minimum liability policy in place to drive in the state. In Georgia, the minimum requirements include a minimum of $25,000 per person in bodily injury coverage or $50,000 per accident. This coverage pays for injuries to others if you cause an accident. You must also have a minimum of $25,000 in property damage coverage. This coverage pays for damage to other people’s cars in an accident that you cause. However, if you only have liability coverage, it will not pay for damage to your car when you cause an accident. If you want protection for your vehicle, you will need to purchase comprehensive and collision coverage.
Comprehensive coverage pays for damage that happens to your vehicle when there is no accident in covered perils. For example, this coverage might pay for damage when your vehicle is stolen, vandalized, or burned in a fire. Collision coverage covers damage to your car in an accident.
The average cost of car insurance Atlanta is higher than the state and national averages. In Atlanta, men can expect to pay an average of $1,746 per year, and women can expect to pay an average of $1,707.33 per year. The average prices will vary and depend on your record and the number of claims that have been filed in the zip code where you live.
What is the average cost of car insurance in Georgia?
Many factors influence the cost of car insurance. The premiums that you might be charged will depend on your age, driving record, credit score, gender, and marital status.
For example, auto insurance premiums are much higher for teen drivers but are less expensive for drivers in their 50s. A 16-year-old driver might be charged an annual premium of around $6,277 while a driver in his or her 50s might expect to pay around $1,184 each year.
Gender is also used to calculate insurance rates by insurers, but it does not have a large impact. On average, men can expect to pay around $1,369 per year while women can expect to pay an average annual premium of $1,325 per year.
While insurance policies for married couples are higher than they are for single people, the cost per person is significantly lower. On average, a married couple in Georgia will save around $117 per year over what they might pay if each driver purchased a separate policy. A single driver might expect to pay an average annual rate of $1,369. A married person might pay an average annual premium of $1,252.
Your credit score will also affect your auto insurance rates. This is because insurance companies have found that people who have good credit are less likely to file claims than people who have poor credit scores. Someone with excellent credit in Georgia might expect to pay an average annual premium of $1,225. A person with very good credit can expect to pay an average premium of $1,420. Someone with good credit can expect to pay an annual premium of $1,703, and someone with fair credit can expect to pay an annual premium of $2,029. Finally, those with very poor credit can expect to pay annual premiums averaging $2,457.
High-risk motorists can expect to pay higher average premiums. A high-risk driver is someone who has been found guilty of a traffic violation or is at fault for an accident. The greater number of violations that you accumulate, the higher you can expect your insurance rates to be. For example, if you are convicted of a DUI or DWI in Georgia, you can expect your annual insurance rates to go up by $713.
The coverage types that you choose will also impact the average cost of insurance that you might expect to pay in Georgia. Liability-only coverage is the least expensive. You can expect to pay more for comprehensive and collision coverage. The average difference between liability-only coverage and comprehensive coverage with a deductible of $500 is around $694 per year.
For example, if you purchase a liability-only policy with coverages of $100,000/$300,000/$100,000, the average annual premium will be $718. For the same coverage levels with a $1,000 deductible on a comprehensive and collision policy, the annual average premium will be around $1,274.
If your insurance premiums are higher than the average rates, you might want to shop around to find the cheap car insurance that will meet your needs.
How much is full coverage insurance in Georgia?
Most drivers use the term full coverage insurance to mean that they have comprehensive and collision coverage in addition to liability insurance. Under ideal circumstances, having full coverage means that you have the right types of coverage in the proper amounts to fit your assets, income, and risk profile. Full coverage insurance should prevent you from financial harm after an accident.
A full-coverage policy should include liability insurance, comprehensive and collision, medical coverage, and uninsured motorist coverage. It should pay for any damage that you cause to others up to your policy’s liability limits. It should also pay for your vehicle minus the deductible up to the fair market value when the other driver does not have insurance, when you are at fault, or when your vehicle is totaled in a natural disaster or is stolen. Full-coverage insurance should also pay for injuries that you or your passengers suffer when you are at fault up to the limits of your medical coverage. If you are injured in an accident with an uninsured motorist, your policy should pay for your injuries up to the limits of the UM/UIM policy. In Georgia, the average cost of full coverage insurance is $1,865 annually.
Finding Atlanta auto insurance for an affordable price can seem difficult. Many factors affect the rates that you might expect to pay. Velox Insurance can help you to compare quotes for car insurance Atlanta to help you find the best policy to meet your needs and your budget. Contact us today to learn more about Atlanta auto insurance and how to find the most affordable policy for you.