Georgia Auto Insurance

The state of Georgia requires all insurance companies to offer uninsured and underinsured motorist insurance to all their policy holders.  Uninsured and underinsured coverage provides protections against drivers who do not carry the mandatory liability auto insurance demanded by the state.  Underinsured and uninsured coverage is not mandatory in the state of Georgia but it is recommended.  If you decide to forego this option, the insurance company is required to provide a signed declaration page stating that you chose not to take the underinsured and uninsured coverage.

Your insurance company may exclude members of your household from coverage on your insurance policy.  If the individual is not listed on your policy, the insurance company does not have to provide coverage for that person.  The exclusion must be stated in the insurance policy or on an endorsement added to the policy.  If your policy lapses or cancels, you must pay the premium to reinstate the policy.  If the policy is cancelled, then you must find a new auto insurance policy right away.  If the lapsed period is more than 10 days, you may be fined, as well as loose your license plates and registration.  In the state of Georgia, lack of mandatory insurance is considered a misdemeanor.

Georgia insurance companies can use your credit history to accept applicants and set insurance rates.  They may also use your credit score to determine your risk factors.  Since Georgia is a Torte state, any individual who is found to be at fault in an accident can be sued for pain, suffering, lost wages, and medical expenses.  For this reason, insurance companies advise policy holders to buy more than the minimum liability auto insurance.  The average insurance premium in Georgia is approximately $788.00 as of 2006 and the state is ranked as the 22nd most expensive for insurance premiums in the nation.

There are 10 officially accepted insurance companies listed in Georgia.  They include the following companies:  American Home Assurance Company, Cincinnati Indemnity Company (The), Civic Property and Casualty Company, Electric Insurance Company, Fireman’s Fund Insurance Company, First Acceptance Insurance Company Incorporated, National Surety Corporation, Southern Guaranty Insurance Company, State Auto National Insurance Company, State Auto Property and Casualty Insurance Company.

The lowest premiums are offered to 65 year old married couples with a clean driving record.  The highest premiums by all insurance companies listed are set for single 19 year old single males.  Not all registered insurance companies in Georgia offer insurance to all categories.  The highest premium is set by the Fireman’s Fund Insurance Company and National Surety Corporation for 19 year old single males.  This premium is $9,377.00.  The lowest premium of $500.00 is offered by State Auto Property and Casualty Insurance Company for the 65 year old married couple with the clean driving record.  Below is a chart showing the approximate annual premium estimates for the approved companies in Georgia.

Name of Company Male Female Male Married
Married           Married           Married           Couple
40 30 28 65
American Home
Assurance Company $1611.00           $2716.00           $7716.00           $1244.00
The Cincinnati Indemnity
Company           $1091.00           $1306.00           $2908.00           $1572.00
Civic Property and
Casualty Company $1884.00           $2333.00                       $1572.00
Electric Insurance Co. $1378.00           $1948.00           $1196.00
Fireman’s Fund
Insurance Company $3189.00           $4290.00           $2776.00
First Acceptance
Insurance Company Inc. $1306.00           $1642.00           $1849.00           $1136.00
National Surety Corporation $3189.00           $4290.00           $2776.00
Southern Guaranty
Insurance Company $1332.00           $2069.00           $2409.00           $912.00
State Auto National
Insurance Company $1395.00           $1845.00           $1351.00
State Auto Property and
Casualty Insurance Co. $645.00           $915.00           $500.00

Name of Company Female Female Male
Single Single Single
35 19 19
American Home
Assurance Company $3877.00           $4179.00           $6086.00
The Cincinnati Indemnity
Company $2530.00           $2628.00           $3798.00
Civic Property and
Casualty Company $2742.00           $3358.40           $5235.60
Electric Insurance Co. $3565.00           $2998.00           $4384.00
Fireman’s Fund
Insurance Company $7040.00           $5940.00           $9377.00
First Acceptance
Insurance Company Inc. $3623.00           $2433.00           $3139.00
National Surety Corporation $7040.00           $5940.00           $9377.00
Southern Guaranty
Insurance Company $1483.00           $3623.00           $5211.00
State Auto National
Insurance Company $4054.00
State Auto Property and
Casualty Insurance Co. $1589.00

One of the methods you can use to reduce the cost of your auto insurance premiums is to purchase more than one type of insurance policy with the same company.  You will also get discounts for a clean driving record and possibly for renewing you policy with the same company repeatedly.  Making sure you insurance never lapses will sometimes reduce your premiums as well as belonging to a particular professional group such as engineers, teachers, or doctors.  Younger drivers can get discounts for maintaining good grades, and completing a driver safety course approved by the state.  Insuring multiple vehicles will also reduce your premiums.  Anti theft devices and safety mechanisms such as airbags and seat belts will contribute to the reduction of your auto insurance premiums.  It would also be advisable to be aware of the most popular cars for car thieves.  The following list gives the make and model of cars that thieves tend to target in Georgia.

1. 1994 Honda Accord
2. 1994 Chevy C/K 1500 Pickup FS
3. 1987 Chevrolet Caprice
4. 1986 Oldsmobile Cutlass
5. 1997 Ford F150
6. 1993 Honda Civic
7. 1996 Ford Explorer
8. 1994 Jeep Cherokee or Grand Cherokee
9. 1994 Toyota Camry
10. 1996 Ford Taurus