Finding cheap car insurance in Georgia can be challenging. The average cost of full coverage car insurance in Georgia is significantly higher than the national average, at $2,976 per year compared to $2,678 nationally. Even minimum liability coverage, required by state law, averages $1,050 annually in Georgia, exceeding the national average of $799. This article will explore why car insurance is so expensive in Georgia and provide tips on finding the most affordable coverage.
Why is Car Insurance So Expensive in Georgia?
Several factors contribute to Georgia’s high auto insurance rates:
- Lack of Rate Regulation: Insurance companies in Georgia can increase rates for certain coverage types without needing approval from the state insurance commissioner. While all states set base rates, insurers add fees and coverage options that impact your final premium.
- High Accident Rate: Georgia experiences a high number of car accidents, leading to more claims and higher costs for insurance companies.
- Expensive Repairs: The cost of vehicle repairs in Georgia is higher than in many other states, further contributing to increased premiums.
- Uninsured Drivers: A significant number of uninsured drivers on Georgia roads forces insurers to raise rates to cover potential losses from accidents involving these drivers.
- Severe Weather: Georgia’s increasing frequency of severe weather events, such as hurricanes and tornadoes, results in more damage claims and higher premiums.
Finding Cheap Car Insurance in Georgia: Full Coverage vs. Liability
While the cheapest car insurance option in Georgia is basic liability coverage, it offers limited financial protection. Understanding the difference between full coverage and liability is crucial for finding the right balance between cost and protection.
Cheap Full Coverage Car Insurance in Georgia
Full coverage car insurance provides comprehensive protection, combining liability coverage with comprehensive and collision coverage. While offering the best financial safety net, it comes with a higher price tag. The average monthly premium for full coverage in Georgia is $248.
- Liability Coverage: Pays for injuries and property damage to others in accidents where you are at fault.
- Comprehensive Coverage: Covers non-collision related incidents like theft, vandalism, and weather damage.
- Collision Coverage: Pays for damage to your vehicle in an accident, regardless of fault.
Increasing liability limits and lowering deductibles will result in higher premiums but can save you thousands of dollars in out-of-pocket expenses if an accident occurs.
Cheap Liability Car Insurance in Georgia: Minimum Requirements
Georgia requires minimum liability coverage, averaging $87 per month. This covers bodily injury/death and property damage to others if you’re at fault. However, it doesn’t cover damages to your vehicle or expenses exceeding your policy limits. This can leave you financially responsible for remaining costs.
Car Insurance Rates by City in Georgia
Insurance rates vary across Georgia cities due to factors like car theft rates, vandalism, and the frequency of personal injury lawsuits. Here’s a comparison of average monthly car insurance rates in some Georgia cities:
| City | Full Coverage | Liability Only |
|---|---|---|
| Lawrenceville | $196 | $84 |
| Cumming | $163 | $66 |
| Suwanee | $185 | $81 |
| Atlanta | $223 | $90 |
| Stockbridge | $173 | $71 |
| Alpharetta | $166 | $68 |
| Duluth | $177 | $69 |
| Marietta | $186 | $80 |
| Lilburn | $191 | $80 |
Finding the Cheapest Car Insurance in Georgia
To find the cheapest car insurance in Georgia, compare quotes from multiple insurance companies, consider raising your deductible, maintain a good driving record, and explore discounts for safe driving, bundling policies, and good student status. Remember, the cheapest option isn’t always the best. Balance affordability with adequate coverage to protect yourself financially.
