Georgia Auto Insurance Requirements
Reviewed by Dr. Christine Berry
Drivers in Georgia are required to be covered by a current auto insurance policy or to demonstrate financial responsibility. Minimum auto insurance coverage requirements in Georgia are mandated by state law and the Department of Insurance. The following minimum coverage is required on every registered vehicle, except as noted below:
(Source: Georgia Department of Highway Safety and Motor Vehicles)
Driving without the mandatory liability insurance in Georgia can result in significant penalties including a driver’s license and registration suspension and substantial reinstatement fees. Georgia drivers may self-insure, with the posting of a deposit to the Commissioner of Insurance or execution of a surety bond in an amount specified by Georgia state law. Self-insured individuals must also demonstrate sufficient net worth and report quarterly to the Georgia Commissioner of Insurance, as specified by law.
The Georgia Automobile Insurance Plan (GAAIP) is available to drivers who are unable to obtain required coverage through the voluntary market. More information is available on the GIAAP website or by calling 800-301-6477.
Georgia drivers may self-insure, with the posting of a deposit to the Commissioner of Insurance or execution of a surety bond in an amount specified by Georgia state law. Self-insured individuals must also demonstrate sufficient net worth and report quarterly to the Georgia Commissioner of Insurance, as specified by law.
Factors Influencing Car Insurance Premiums in Georgia
Finding cheap car insurance in Georgia takes some legwork and research, but it helps that Georgia ranks below the national average for car insurance costs. While many factors go into underwriting auto insurance, Georgia insurance consumers enjoy market conditions that positively impact car insurance quotes and rates:
– While rates are more expensive in high population centers, the rest of Georgia is relatively rural
– Vehicle theft rates are below national averages
The average auto insurance premium for residents in Georgia is $754.
Tips for Obtaining Cheap Car Insurance in Georgia
– Defensive driving courses for those over 55 years of age may provide premium discounts
– Maintain a good driving record
– College graduates receive discounts
– Bind multiple policies (homeowners, life, auto) with the same provider
– Maintain a good credit score
– Create a personal “emergency fund” of up to $1500 and increase deductibles accordingly
– Discuss affinity discounts with your insurance provider
– Drop comprehensive and collision insurance on older vehicles
– Ask about good student discounts for student drivers – In Georgia, insurance companies are required to offer a reduction in liability, first party medical, and collision rates for drivers who qualify as “good students” by meeting one of the following criteria: Ranked in the upper 20% of their class, have a “B” average or better, a 3.0 average or better, or make the Dean’s List or Honor Roll.
Georgia Statistics
– Auto Theft: Georgia’s auto theft rate is above the national average, but this rate has been decreasing somewhat over the past 10 years. This can be attributed primarily to anti-theft devices being standard on recent model cars, as well as public awareness of the issue.
(Source: Auto Thiefs)
– Automobile Accidents: The total vehicle miles traveled in Georgia have declined in recent years, and following a nationwide trend, so have accident fatality rates. 2009 saw a significant decrease in the number of deaths in Georgia motor vehicle accidents.
(Source: National Highway Traffic Safety Administration)
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