Comprehensive Insurance

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Keeping Your Costs to a Minimum with Georgia Comprehensive Auto Insurance

comprehensive insurance coverage in Georgia

While Georgia residents enjoy a yearly insurance cost that is below the national average, there are always ways to reduce the cost you have to pay. Insurance costs for the state are at number 22 in the nation. Nationwide, the yearly cost of insurance is around $1,800, while in Georgia, the average rate is $1,700. In addition, other insurance related expenses for Georgia and the national average compare this way:

comprehensive insurance coverage in Georgia

  • Accident rates in the state are below the national average.
  • Vehicle repair costs are also below the national average.
  • Vehicle theft rates are below the national average.

One dark spot should be noted, however: the rate of auto insurance fraud in Georgia is higher than the national average.

Vehicle Theft and Comprehensive Auto Insurance in Georgia

Getting your car stolen is never good, but not having the right car insurance can make it even worse. Only comprehensive auto insurance will cover the cost of your vehicle if it is stolen as well as damages incurred by the person who stole the car in the first place. More vehicle theft information for Georgia:

  • In 2009, there were just over 33,000 vehicle thefts in the state, which equals 337.2 per 100,000.
  • On a list of the top 20 worst cities in the US for auto theft, only one Georgia city is listed. That city is Macon at number 14.

In every state, there are certain types of cars and trucks that are stolen more than others. In the state of Georgia, the top ten of those vehicles are:

  • Honda Accord (1994)
  • Chevrolet 1500 Pickup Truck (1994)
  • Chevrolet Caprice (1987)
  • Oldsmobile Cutlass (1986)
  • Ford 150 (1997)
  • Honda Civic (1993)
  • Ford Explorer (1996)
  • Jeep Cherokee (1994)
  • Toyota Camry (1994)
  • Ford Taurus (1996)

Before You Decide if You Need Comprehensive Auto Insurance in Georgia

There are some situations where you might not need comprehensive insurance. In Georgia, there is mandatory insurance which provides a minimum required coverage amount. Those minimums are:

  • $25,000 for each person/bodily injury
  • $50,000 for two or more people/injury each accident
  • $25,000 for each accident for property damage

Keep in mind that these minimums do not cover your own costs for damages to your vehicle or property or your injuries. In addition, this coverage does not cover certain types of events, including hitting an animal or weather related damages. Comprehensive insurance can cover those expenses for your own and other people’s vehicle and property.

Do You Always Need Insurance?

While Georgia does require minimal insurance, it does provide for some exemptions. Those include:

  • When the owner moves from the state
  • When the vehicle’s lease term has expired
  • When the car has been repossessed, has been stolen or has been declared inoperable
  • If the car has been sold or the ownership has somehow been transferred
  • When the car is being stored or is only being used seasonally (for agriculture purposes)
  • When the car has been wrecked, junked or salvaged

If you rent a car in Georgia, your rental car must have at least the legally required insurance. Do not rely on your credit card- that protection for your car does not exist and can leave you at fault for damages to the car and any other property in an accident.

Comprehensive Auto Insurance in Georgia: What Happens if Coverage Lapses?

A lapse occurs when your insurance coverage has expired for more than ten days in a row. If you know that you cannot pay the premium, immediately contact the agency that you are dealing with to ask for advice instead of just allowing it to go to lapse status. In Georgia, if your insurance coverage has lapsed:

  • Your vehicle registration could be suspended.
  • If that happens you will pay a $25 lapse fee followed by a $60 reinstatement fee.
  • Fees increase for second and third offenses.
  • By the time you reach a third offense, the reinstatement fee is $160.