How Much Does It Cost to Drive in Georgia?

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The demand for used cars has increased tremendously over the past year. As a result, the cost of used vehicles have gone up 45 percent. That means if you’re a car buyer, you must keep in mind that vehicle ownership costs go beyond the listed price. However, this cost is not the same across the country. In fact, in many states, riders and motorists may have to spend thousands of dollars every year compared to others.

Let’s delve into the details to learn how much it costs to drive in Georgia.

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How a Hit-and-Run Can Affect Your Car Insurance Rates

Regardless of the state you live in, a hit-and-run is a serious matter. You might be charged with a crime or felony if a hit-and-run results in injury or death.  In states like Georgia, it’s a crime not to stop or return to provide your information, for instance. You might face the following penalties, depending on the severity of your infraction;

  • Property damage: Misdemeanor and a $300 to $1,000 fine per violation
  • Death: A felony charge including imprisonment of two to five years
  • Injury: A $300 to $1,000 fine and possible imprisonment for one year

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Why Are Auto Insurance Rates in Georgia Expensive?

If you live in Georgia, you’re probably aware that the state has significantly high rates for auto insurance. It’s because the state has accident-prone highways and routes with a considerably high percentage of car crashes.

Georgia insurance companies have the right to increase premiums without seeking approval from the insurance commissioner of the state. This is the reason auto insurance rates in Georgia are relatively higher than in other states.

You may have to pay around $1,660 annually for full insurance coverage or $690 for minimum coverage for your car in Georgia. The national average for full coverage is no more than $1,500 per year. As the insurance cost increases, the charges of premium insurance also go up.

Plus, insured drivers have to share rising insurance costs. This increases insurance rates whenever an insurer renews your policy, regardless of individual factors, such as location or driving record.

Here, we’ve listed some reasons explaining why auto insurance increases annually in Georgia.

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What Are The Penalties For Driving In Georgia Without Insurance?

As a driver you want to be aware of the motor vehicle laws and regulations across the country. Not doing so can leave you with hefty fines or even jail time. The state of Georgia places emphasis on the importance of car insurance, and doesn’t let motorists drive without it.

Let’s talk about the car insurance laws in Georgia and the penalties of not having the minimum coverage.

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There’s Certain Insurance Requirements To Follow if You Own a Motorcycle in Georgia

If you live in Georgia and own a motorcycle, you must have an insurance policy to operate as a rider. The city imposes regulations to help you face financial losses you may experience in the event of an accident or crash. Motorcycle insurance is the best way to get financial security in any crash-related injury.

In fact, this is a necessary legal investment one should never overlook. To establish your motorcycle insurance in Georgia, buying traditional insurance via a reliable auto insurance company is the most viable option. However, you need to know the components your motorcycle insurance covers in Georgia.

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A Speeding Ticket in Georgia Can Raise Your Car Insurance by 26%

What to do if you get a speeding ticket

According to the National Highway Traffic Safety, Georgia reported more than 9,378 fatalities in 2018 due to speeding. Note that speeding is typically a misdemeanor in the state of Georgia; however, there are strict rules and hefty fines involved for drivers who violate these rules.

Keep in mind that speeding tickets are something to be taken seriously as they impact your automobile insurance premium. That means if you get a ticket for speeding in Georgia, it will increase your car insurance cost by 26 percent on average.

Keep on reading to find out how speeding tickets impact your car insurance in Georgia.

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Does it cost more to insure a new car?

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Buying a new car

If you are thinking about buying a new car, you might wonder if you have to worry about your car insurance rates. That new car might be very tempting and very shiny, but how much is it going to cost to insure? You’re already going to be paying a lot of money for the vehicle, after all, and you’re a bit apprehensive about what those insurance rates are going to look like. Does a new car cost more to insure? Well, insurance rates are complicated, but here are a few things that you can keep in mind.

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How does a car insurance deductible work?

How does a car insurance deductible work?

How does a car insurance deductible work?

When you’re talking to your agent about car insurance, they may mention a little thing called a “deductible.” You may be a little confused about this amount you may have to pay in addition to your monthly premium, but it’s vital to the way that insurance works and what can make your policy and your rates work for you. Here’s how.

What is a deductible?

If something happens to your car, your auto insurance deductible is the amount you’ve agreed to pay – your insurance has its part, you have your part. For example, let’s say you have a $500 deductible. You’re in an accident where the damages total $2,000. You would have to pay the $500 deductible, and your car insurance would pay the rest of the money to fix your car ($1,500) so long as it’s a covered claim.

We say your car because a car insurance deductible typically applies to collision and comprehensive coverage. If you only have bodily injury and property liability coverage, your insurance company will probably just pay the other driver’s fees. However, the claim could make your rates go up for next year.

Why do I need collision/comprehensive insurance?

While Georgia requires bodily injury and property damage liability, these coverages are only to cover your responsibility to the other driver in an accident. Collision and comprehensive coverage are the types of coverage that can help you repair damage to your car. Without those, you’ll have to pay the entire amount of your car repairs out-of-pocket. So, a deductible, in the grand scheme of things, isn’t that bad.

What is a car insurance deductible?

Is it worth going through my car insurance for a repair?

Additionally, some things aren’t really worth going through your car insurance because of your deductible. For example, let’s say you have a $250 repair bill for your car. If you have a $500 deductible, you would have to pay out-of-pocket for the total amount of the repair anyway. Because the repair isn’t more than the deductible, it might not be worth it to file a claim for something you’d pay for out-of-pocket anyway.

Similarly, if you had a $600 repair and a $500 deductible, you may just want to take care of the repair yourself instead of making your insurance pay the extra $100, potentially raising your rates next policy term. However, if you have a much higher repair bill than your deductible, by all means, let your insurance help you out!

How does my deductible affect my car insurance?

The thing about deductibles is that they can affect your premium. So, if you’re already paying more for your monthly premium, you can have a lower deductible because you’ve, in a sense, already “paid (part of) your dues” on a monthly basis.

On the other hand, if you choose a higher deductible, your insurance company can see it as you taking more financial responsibility if you have to repair your car. So, they can lower your monthly premium/payment into the risk pool. It’s all a balancing act.

How do I choose my deductible?

So, what does all this mean for you? Well, it means you can be a little more informed in the deductible you choose. That way, you can customize your auto insurance policy for your needs. A good place to start considering the deductible you want is by asking yourself these questions:

How much would I be able to pay if I filed a claim?

Budget for how much you could reasonably pay if you had to repair your car. What amount could you put into your car without being significantly set back in your finances? Your insurance is there, ultimately, to help you. Don’t let it hurt you.

Am I willing to have a higher monthly payment or higher repair costs later?

If you believe you’re able to pay out more every month for your car insurance, and you don’t think something will happen later, go ahead and choose a lower deductible. Accidents happen, even to safe drivers. Still, if you’re not in a high-risk situation that could affect your auto insurance rates, you may be comfortable taking the chance that you won’t have to pay a deductible later on.

However, if you think you won’t be able to afford higher monthly payments, but you would be able to save up gradually for your deductible, choosing a higher deductible and a lower monthly payment may be for you. Remember, though, that your car insurance deductible doesn’t build on itself like health insurance. Each claim that you file means that you have to pay that deductible for that claim. So, if you have a $500 deductible, and 2 claims throughout your policy term, you would have to pay $500 for each of those 2 claims.

Do I still have to pay a deductible if I’m in an accident, but I’m not at fault?

It depends on the direction you want to take. If you want to ensure that your rates won’t go up, you could go directly through the other driver’s insurance policy to have your car repaired. However, going through another carrier may take longer than expected.

If you have collision coverage, you could go through your insurance to have your car repaired more quickly. In this case, you may end up paying your deductible while your insurance takes care of their part of the repairs. Then your insurance would subrogate (ask the other driver’s insurance company for money) and reimburse you for your deductible.

Overall, deductibles and premiums are a fine balancing act between your premiums, your coverage, and your budget. It can be tough to navigate. That’s why our car insurance experts are here to help you every step of the way. We’ll walk through your risks so that we give you quotes and discounts on auto insurance that fit your needs. To get started, just give us a call, fill out our online form, or LiveChat with an agent today!

Does my Atlanta car insurance cover a rental car if I’m in an accident?

If you need a rental car after an accident, you'll need rental reimbursement coverage.

If you need a rental car after an accident, you'll need rental reimbursement coverage.

So, you’ve been in an accident, and you need to take your car to a mechanic or a collision center to be repaired. But there’s still tons of stuff you need to do that all depend on your car – you need to get to school or work, you need to get the kids to practice or lessons, or you just need to be able to get your weekly groceries. In any case, you’re dependent on your dependable transportation. So, you get a rental car.

The problem is, rental cars can cost you hundreds of dollars a week, and you may not have that kind of money lying around. So, how can you get help in paying your rental fees? For that, there’s rental reimbursement coverage. Here’s how it works.

What is rental reimbursement insurance?

Rental reimbursement coverage is just like it sounds – it can help reimburse you for the costs associated with renting a car while your car is in the shop after an accident. However, this type of coverage isn’t automatically included in your car insurance. It can usually require you to have an endorsement to your policy. In other words, you have to have this coverage on your car insurance in order for your rental car to be covered if you’re in an accident.

How long will my insurance help pay for my rental car?

Well, it is a rental car – you can’t just keep it forever, even if you do like it more than your regular ride. Your policy will usually have a per-day and a per accident limit which will vary based on your coverage. In Atlanta, your typical rental car can cost about $20 – $30 a day, depending on the type of rental you get. So, your rental reimbursement coverage may only cover about $20 a day and up to $900 per accident.

For exact coverage numbers, it’s important to talk to your agent or look at your auto insurance declarations page. You agent or carrier may also give you some recommendations for rental car companies they’ve worked with for an even smoother reimbursement process.

How much does rental reimbursement insurance cost?

Rental reimbursement coverage usually isn’t that expensive in relation to your current monthly rates. It depends on your plan, your insurance carrier, and your driving history, but even with the worst driving record it’s not going to cost you a lot to have that peace of mind.

If you’re looking for the absolute lowest rates on car insurance, you may be tempted to skip rental reimbursement coverage. However, if you’re in an accident, a few dollars more on your policy is probably going to be more appealing than spending around $200-300 a week on a rental car. And that’s on top of any repair costs you may have to pay before you meet your car insurance deductible.

How can I save money and afford rental reimbursement coverage?

If you’re still worried about the added cost of rental reimbursement coverage, there are tons of ways to save on your original auto insurance policy:

  • Make sure you have a good driving record – it makes you seem less risky to the insurance company.
  • Ask about discounts (especially bundling)
  • Ask your agent if your car’s safety features can lower your premium
  • Boost your credit score
  • Shop around for car insurance

These tips can help you save some money on your car insurance so that you can add rental reimbursement coverage. It may seem like a pain to shop around for a great car insurance rate, but the peace of mind will ultimately pay off. After all, the whole point of car insurance is to be able to take care of your needs in a worst-case scenario.

That’s why our agents are insurance experts. We’ll use our knowledge and exclusive connections to get you customized quotes for the coverage you need. And we’ll save you money through it all! To start getting your free auto insurance quotes, give us a call or fill out our easy online form.

5 reasons auto insurance premiums are rising

Auto insurance premiums have been rising lately.

Auto insurance premiums have been rising lately.

Over the past few years, the auto insurance market has been hardening. Policyholders have noticed this in the form of increased car insurance premiums (or expensive auto insurance premiums.) From about 2011 to 2016, insurers were competing against each other, and this competition led to a soft market in which car insurance prices were lower. However, carriers are now either leaving the market or raising their rates to make a profit and stay in business. This can be attributed to several different factors, which all contribute to the trend of rising auto insurance premiums.

5 factors that have caused car insurance prices to rise.

More people are driving…and they’re driving more.

There are a lot more drivers on the road due to low gas prices and strong employment rates, and those drivers are putting a lot of miles on their cars. However, that also means there are more accidents (more cars on the road means more traffic and more crashes.) This means that the average driver has a higher chance of being in a wreck when they drive. (There are also more accidents due to an increase in unsafe driving habits on the roads, such as distracted driving.)

And those claims have to be paid for – by insurance. And insurers can’t necessarily sustain those kinds of losses and payouts, so they’ve had to pass off some of the expense to policyholders in the form of higher premiums.

Accidents are more severe.

Accidents have also become more severe, meaning that the average cost of a claim has gone up. This increase in accident severity has happened because the cost of medical care is going up. Also, the costs of auto repair have been going up, as has the cost of auto parts. The technologies in newer vehicles are expensive, and on the repair end, it requires special equipment and training for the professionals who are working on the vehicles. All of these things contribute to larger claims and a bigger “fallout” from accidents. Simply put, accidents are costing more. And that means insurers are charging higher insurance rates because of the increased risk.

Lots of motorists are uninsured.

Many motorists do not carry enough insurance – or any insurance at all. And when they cause an accident, it’s the insured driver’s underinsured/uninsured motorist coverage that will pay out for the damage. But these claims have been going up by quite a bit recently too, so that means that premiums have also been increasing. Insured drivers are paying more to offset the trend of increased uninsured motorist claims.

Autonomous vehicles.

Self-driving cars are a trend that is soon to be upon us, and that means that insurers are going to have to learn how to cope with the changes autonomous vehicles will bring to the car insurance industry. The prediction is that self-driving cars will lower accident frequency and make the roads safer, leading to fewer claims (and thus lower auto insurance premiums.) It’s also predicted that the car insurance market will shrink. Insurers are seeing these trends and predictions and they’re trying to get ready for the inevitable change to come, so they are gradually raising rates to compensate for the future when rates could drop by a lot and the personal car insurance market will decrease.

Insurance fraud.

Insurance fraud is yet another factor that has contributed to rising auto insurance premiums. Whether it’s staged accidents or faking an injury to pin the blame on a third party (and collect the insurance money), insurance fraud is always a concern within the industry. It costs the country billions every year. And once again, this cost is transferred to the policyholders.

How policyholders can manage their rates.

Even though these trends are happening and they’re causing car insurance premiums to go up, there are a few things that policyholders can do to keep their rates down and offset the price increase. They can:

  • Raise their deductible if they are financially comfortable doing so.
  • Maintain a good driving record by driving safely. (Tickets and accidents can cause rates to go up.)
  • Choose a safe vehicle to drive.
  • Consider bundling their home and auto insurance.
  • Explore the car insurance discount options available to them.
  • Work on improving their credit score.
  • Get multiple quotes for car insurance.

Even though car insurance rates have been rising, we can help you get the coverage you need to protect yourself financially at a great rate. Our agents can help you get multiple quotes so you have options to choose from, and we’ll make the insurance process as easy as possible. You can get in touch with us by filling out our online quote form or giving us a call today.