Finding affordable car insurance is important for getting the most value from your coverage at a rate that fits your budget. If you’re shopping for affordable car insurance in Georgia, use this guide to help you determine what level of coverage you need and how to get the best price for your policy.
Since there are many factors to consider when looking at car insurance, it’s helpful to understand what factors go into calculating your individual policy rate. Let’s take a look at how to get the most affordable car insurance in Georgia by comparing leading providers based on different levels of coverage, driver history, and driver age.
Most Affordable Minimum Liability Car Insurance in Georgia
Minimum liability car insurance refers to the bare minimum level of coverage drivers must have to operate a motor vehicle in their state. Each state regulates its own minimum liability coverage requirements, meaning the amount of coverage drivers are required to have can vary based on where they live. For example, drivers in Georgia need to have bodily injury liability coverage for $25,000 of physical injury expenses per person and $50,000 per incident. Additionally, drivers need property damage liability insurance that covers up to $25,000 per incident. Although drivers can choose an insurance policy that offers more coverage, these are the minimum requirements.
Since minimum coverage only gives you the most basic coverage package, it’s often the cheapest option for drivers. Among leading car insurance providers, the most affordable coverage comes from Farm Bureau. Drivers in Georgia who opt for a minimum liability coverage policy through Farm Bureau pay an average monthly premium of $47, or an annual rate of $562. By comparison, the second-cheapest option through State Farm costs $53 per month on average and $640 per year. The third most affordable provider is GEICO, averaging $59 a month or $708 a year for minimum liability coverage.
Most Affordable Full Coverage Car Insurance in Georgia
Although minimum liability coverage is by far the most affordable level of coverage, it may end up costing drivers more over time if they get into an accident or sustain damage to their vehicle. Full coverage car insurance can help drivers protect their financial investment by covering more types of damage than minimum liability coverage. By opting for full coverage, drivers get access to collision and comprehensive coverages. Here’s what each of these coverage types handles:
- Collision coverage: This type of insurance protects you from any costs incurred in a collision. For example, if you hit another car, run into another object, or are the victim of a hit-and-run, this type of coverage protects you.
- Comprehensive coverage: Providers offer this type of coverage to handle expenses caused by non-collision damages. Theft, vandalism, and natural disasters can cause damage to your car, and this type of policy ensures you’re protected.
Like the minimum coverage options, Farm Bureau also offers the most affordable car insurance in Georgia for drivers looking to get full coverage. The average monthly cost of coverage through Farm Bureau is $110, while the average annual premium is $1,322. Following Farm Bureau, State Farm offers the second-cheapest option. This provider’s policies cost an average of $118 per month or $1,410 per year for full coverage. The third most affordable choice is GEICO, which offers a monthly average premium of $145 or an annual premium of $1,741.
Most Affordable Car Insurance in Georgia for Drivers with Accident History
Car insurance rates can be significantly more expensive for drivers with a history of accidents or other driving violations. For example, the national average for car insurance for drivers with an at-fault accident history is $2,414 per year. This is significantly more expensive than insurance coverage for those with a clean driving record. Insurance rates for Georgia drivers with an accident history are comparatively affordable. For example, Farm Bureau offers the cheapest option for full coverage insurance for drivers who have a poor driving record. The average monthly premium through this provider is $120, while the annual average is $1,446.
The second most affordable option for Georgia drivers is State Farm, which has an average monthly premium of $139 or an annual average of $1,673. Following State Farm, the options become more expensive. GEICO is the third-cheapest choice for drivers with an accident history. Coverage through this provider costs an average of $248 a month or $2,975 a year.
Most Affordable Car Insurance in Georgia for Young Drivers
Insurance rates for young and inexperienced drivers typically cost more than standard policies. Since young drivers are statistically more likely to be involved in an accident, insurance companies charge more for customers in this category. For example, the most affordable option for full coverage for 18-year-olds in Georgia is through Farm Bureau, which charges $4,207 per year. Farm Bureau also offers the most affordable option for minimum liability coverage for young drivers, with an annual premium of $1,852.
The next cheapest option for young drivers is to purchase insurance through State Farm. Inexperienced drivers pay an average of $4,286 per year for full coverage or $2,139 per year for minimum liability. Coming in third, GEICO costs an average of $5,109 per year for full coverage or $2,329 for liability only, making it significantly more expensive than the other options. If you’re a young driver or looking to insure a young driver for less, here are some tips you can use to cut your costs:
- Combine policies: Combining the policy of a young driver with an experienced driver on your plan can reduce expenses.
- Shop around: Some local providers may offer competitive rates with the leading national companies.
- Use discounts: Many companies offer discounts for young drivers who take safe driving courses, install safety equipment on their vehicles, or earn good grades in school.
Finding affordable car insurance in Georgia doesn’t have to be complicated. Shop around, get personalized quotes, and compare rates to determine what company offers you the most value for your dollar. Since car insurance rates depend on many individualized factors, the best way to get the best deal on your policy is to do your research and get personalized estimates from multiple providers.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.