Cheap Car Insurance Companies In Georgia

The average semiannual cost of car insurance in the state of Georgia is $971.33. An insured premiums are influenced by more variables than purely their place of residence. Car insurance underwriters calculate auto insurance rates after assessing a range of criteria such as the policyholder’s age, driving record, marital status, and credit rating. We examined typical car insurance costs in Georgia across each of the predominant rating factors. We aim to provide consumers insight to identify a car insurance policy that meets their needs and budget.

*Data Methodology – Updated 3/1/2024

The Georgia car insurance rates are based on a 35-year-old male with the most popular car (Honda Accord) living in GA. The Quote is for full coverage with comprehensive at $500 deductible and collision at $500 deductible.

Georgia Minimum Liability Coverage

Georgia has a minimum required amount of auto insurance coverage that motorists must carry. While these limits help protect drivers financially in the event of an accident, many insurance experts recommend carrying higher liability limits. Here are Georgia’s minimum liability requirements:

Bodily Injury Liability: $25,000 per person / $50,000 per accident
This covers injuries or death of other people in an accident you cause. The $25,000 limit covers injuries up to that amount for any one person involved in the accident. The $50,000 limit is the maximum amount of coverage for all persons injured in a single accident.

Property Damage Liability: $25,000
This covers damage to other people’s vehicles and property in an accident you cause. The $25,000 limit is the maximum amount of coverage for damage to all property involved in a single accident.

Personal Injury Protection (PIP): $2,500
This covers injuries to you, your passengers, and relatives living with you. PIP pays for medical expenses, lost wages, and funeral costs up to $2,500.

Uninsured/Underinsured Motorist: $25,000 per person/$50,000 per accident
This covers injuries to you and your passengers caused by drivers who have no insurance or not enough insurance. The limits match the bodily injury liability limits.

Penalties for Driving Without Insurance in Georgia

If you drive without car insurance in Georgia, you face severe penalties. The state requires all drivers to carry minimum liability insurance coverage to legally drive. This protects you in case you cause an accident and helps cover damages to other vehicles, property or injuries.

The penalties for driving without insurance in Georgia include:

• A fine of up to $1,000. The minimum fine is $200 for a first offense and $500 for subsequent offenses.
• Suspension of your driver’s license for up to 12 months. For a first offense, your license will be suspended for 3 months. Repeat violations result in 6 to 12 month suspensions.
• Vehicle registration suspension. The Department of Driver Services will suspend your vehicle registration until you provide proof of insurance.
• Vehicle impoundment. For a second or subsequent offense within 5 years, your vehicle may be impounded for up to 30 days. You must pay all towing and storage fees to reclaim your vehicle.
• Criminal charges. Driving without insurance is a misdemeanor in Georgia and may result in jail time of up to 12 months for repeat offenses.

Auto Insurance Rates in Georgia

Auto insurance rates in Georgia vary based on several factors, including your age, driving record, credit score, vehicle type, and location. Understanding how these factors determine your insurance costs and ways to potentially lower your premiums can help you save money on auto insurance.

Age is an important factor that insurance companies consider. Younger drivers typically pay higher rates due to their increased risk of accidents and claims. Rates tend to decrease as drivers get older and gain more experience.

Your driving record, including any violations or at-fault accidents, also impacts your rate. Drivers with clean records for several years will qualify for better rates. Some violations, like DUIs, can significantly increase your costs.

Insurance companies often review applicants’ credit scores to determine their risk level. Those with poor credit typically pay higher premiums. However, not all insurers use credit scores, so shopping around could save you money if you have a lower score.

The type of vehicle you drive also affects rates. Sports cars and luxury vehicles usually cost more to insure due to higher repair costs and increased risk of theft. Cheaper, more practical cars see lower rates.

Your location matters as well. Rates tend to be higher in urban areas with more claims. Living in a rural area or small town can qualify you for better rates.

Low Cost Car Insurance Programs and Discounts in Georgia

Car insurance is mandatory in the state of Georgia, but the cost of coverage can still be a burden for many drivers. Thankfully, there are a number of options to help lower your premiums, including low-income insurance programs, multi-car discounts, and other car insurance discounts offered by many insurers.

One key way to reduce premiums is by enrolling in a low-income auto insurance program. The state of Georgia offers the Georgia Underwriting Association (GUA), which provides affordable coverage to qualified low-income drivers. To be eligible, applicants must have a household income at or below 200% of the federal poverty level. Coverage through GUA can save drivers hundreds of dollars per year compared to standard policies.

Insurers also offer multi-car discounts for households that insure two or more vehicles with the same company. Bundling policies for multiple drivers in the same household can result in premium savings of 10% to 15%, making this a worthwhile option for many families.

Other common discounts that Georgia drivers may qualify for include good student discounts for full-time students with a B average or higher, discounts for drivers over age 55, and discounts for completing approved defensive driving courses. Drivers should discuss all available discounts with their insurer to determine which options could lower their premiums the most.

Georgia Car Insurance Statistics

As of 2021, there are over 8.7 million registered vehicles in Georgia, with over 6 million licensed drivers. With so many drivers on the road, car insurance is an important financial protection. Here are some key statistics about car insurance in Georgia:

• Liability insurance is required. Georgia is a “fault” state, meaning insurance coverage depends on who is at fault in an accident. However, drivers are required by law to carry at least $25,000 in bodily injury coverage per person, $50,000 in bodily injury coverage per accident, and $25,000 in property damage liability insurance.
• Uninsured motorist coverage is optional but recommended. Around 16% of Georgia drivers are uninsured. Uninsured/underinsured motorist coverage pays for injuries and damages if you are in an accident caused by an uninsured driver.
• Premiums are below the national average. According to the National Association of Insurance Commissioners, Georgia drivers pay an average annual car insurance premium of $1,011, about 8% below the national average of $1,097.
• Rates vary by location. Cities with the highest insurance rates in Georgia tend to have higher accident rates and crime rates that contribute to claim costs. The areas with the highest rates are Atlanta, Augusta, and Savannah.
• Top factors that impact rates include driving record, credit score, age, gender, and vehicle type. Insurance companies analyze these factors to determine the risk profile of individual drivers and price policies accordingly.
• Shop around for the best rates. Because there is wide variation in rates among insurance providers, it pays to get multiple quotes and compare policies to find the right coverage at the best price.

The 10 Largest Georgia Car Insurance Companies

Georgia drivers have many options when choosing a car insurance provider. The top 10 largest car insurance companies in Georgia by market share are:

1. State Farm – As the largest auto insurer in Georgia, State Farm has a strong presence across the state with a large network of agents. State Farm is known for affordable rates and a good claims experience.
2. GEICO – GEICO is the second largest auto insurance provider in Georgia. GEICO is known for its affordable rates, multi-channel access, and 24/7 claims service.
3. Allstate – Allstate has a significant market share in Georgia due to its strong agent network and brand recognition. Allstate offers many discounts and coverage options to fit different customer needs.
4. Farmers – Farmers Insurance has been in business for over 80 years and has a large agent network in Georgia. Farmers is known for good customer service, multi-vehicle discounts, and a variety of coverage plans.
5. Liberty Mutual – Liberty Mutual offers flexible coverage options and personalized service through local agents. Liberty Mutual is focused on innovation and customer experience.
6. Progressive – Progressive has a large market share in Georgia due to its name recognition, wide availability, and affordable rates. Progressive is known for its easy online quoting and claims process.
7. Nationwide – Nationwide has a large presence in Georgia through its network of local agents. Nationwide offers many discounts and flexible coverage options to meet different needs.
8. Travelers – Travelers has a long history of providing auto insurance and has a strong brand. Travelers offers industry-leading claims satisfaction and personalized service through local agents.
9. USAA – While only available to active military members, veterans, and their families, USAA is a top auto insurer in Georgia for those who qualify. USAA is known for high customer satisfaction and a strong focus on the military community.
10. The Hartford – The Hartford has a sizable market share in Georgia due to its network of local agents. The Hartford offers many discounts, claims resources, and coverage options to fit different needs.