Vehicle Insurance in Georgia

[wrb752]

If'n my memory is correct, in NC many insurance policies are the same from company to company, one just has to compare/verify the policy coverage/amounts.

Your agent can get you an umbrella policy. Ours is around $300 a year for $2-3 million in coverage. Pretty cheap all things considered. On another forum, there is a much respected member who is in the insurance business. He once said that insurance companies like people who hold lots of policies. Well DUH! They are making money off the policies! :laughing: Well, they are really making money because the real reason they like to see a bunch of policies is that people who have a bunch of coverage, have very low claim rates. So the insurance companies make out on both ends. Now that is fine by me because that means I will have a lower chance of having a claim. I hope. :laughing::laughing::laughing: We also get a multi policy rate discount so the insurance company does give some back.

As others mentioned the age of your wife and you might be can impact but at 25 the cost used to go down. Also if one is married that drove down the car insurance cost too. At least it did when I was 25. When I was that age I was living in South FLA and car insurance was VERY EXPENSIVE because half of the drivers did not have coverage, there were lots of accidents, and car thefts. So maybe your rates are going up because of similar issues. :confused3:

Later,
Dan

That's a nice quip and all, but there is a reason why it's true. People with a bunch of policies also have the most to lose, so they have a much larger insurance exposure. If you are renting a 1 bedroom apartment and drive an 84 Nissan, you don't have much to lose. If you get in an accident, get sued, and lose everything, 100% of nothing isn't much. If you own some things and have a solid income, for many people it's worth it to insure. It seems like it's worth it to you because you have an additional 2 million dollar policy.

 

[CajunRider]

OK, so here's the deal. I have been paying what I feel is outrageous auto insurance rates for way too long. Need some advice/assistance.

Just got the wife a new car. 2017 Toyota Camry. Her dream car. Georgia Farm Bureau, who I've been with since I first got a license (10+ years) quoted me initially right at 700 every six months for the Camry. I was thinking "man that's a little high for a car...but what do I know, I've never owned a car". New bill came in the mail today. For the next six months...just north of $900.

Just for some background...I currently have the Camry and a Ford Escape (2015 with less than 10,000 miles, my mother's car) at full coverage, and my truck (01 Dodge Ram 2WD V6 SWB), my wife's old 04 Nissan Frontier, and an old "family" 83 Ford bronco (which I am in the process of selling) with liability only.

The New six month premium is right at $2400. That is an increase of about $250 from the previous six months (about $500 more a year).

I'm trying to figure out if I'm getting jack screwed here or not. Actually, I'm pretty sure I'm getting screwed...I just want to know how bad!

I have thus far gotten a quote from GEICO for the four vehicles (minus the bronco) for just over $1000 for six months. The bronco costs about 300 for six months with GFB, so that would bring me down to about 2 grand even with GFB. State Farm locally is telling me since my current policy was re written last year (Dad and I were always the owners listed on the policy, so of course when he passed in March of 16 GFB rewrote the policy to "remove" him from it) they can't provide me a quote...

I have a meeting set up with an independent agent here in town next week, and am also considering looking some more online.

I say that to say this...I have no idea how to shop for auto insurance. Like I said before, I've always used GFB. Is it worth considering some of the "online only" companies? Do I need a local agent? Am I out of line for thinking my insurance is too high? I'm 26, wife is about to be 25, Mom is 66 (only listed on the Escape). No tickets, no accidents, no moving violations, ... nothing that I feel would cause us to be considered bad drivers.

Just looking for any tidbits I can get. I have read some of the other insurance posts I have found here and elsewhere...and I'm still kindsortasomewhatconfused.

Thanks in advance!

Cheaper than Louisiana is all I can say. BTW, 2 out of the last 4 Insurance Commissioners in my state was indicted for wrong doing. That should give you an idea of how bad things are.

 

[RandyT]

I am not going to complain about what I pay then. I have a 11 Ram 1500 4x4 regular cab long bed with full 100,300 coverage. An 96 Dakota with everything but collision, and a 12 Suretrac trailer with liability only/ The vehicles have 500 deductable, and the trailer is 250 deductable. I pay $468 every six months.

 

[bspeedy]

Things to look at:

Deductible. Consider a high deductible ($1K plus) in order to self-insure for the little things.
'New car replacement' This is a crock. Don't pay for it.
Rental car coverage. You have more cars than drivers - don't need it.

In other words, break down every line item with your agent and see if you need it or not.

Also, don't pay full coverage for a vehicle that you don't need or can afford to replace. Calculate your savings and then reap the benefits. If it makes you feel better, put a savings account together with the money you don't waste on insurance and use that account to cover deductibles and such.

I pay about 1600 a year for my wife's 2008 Expedition, my 1999 F250 and my 2002 accord. Cheap cars, cheap taxes, cheap insurance... cheap OWNER.

 

[GAFarmer2]

I was in the insurance business in GA for a "few years". My sister is a senior VP for the largest insurer in the world. My first advice is this. The comments here are generally correct or pretty close, just take everything with a grain of salt. Honestly, it doesn't matter if someone on here insured 4 houses, a horse and buggy, and a Ferrari for $12 dollars a month.

An umbrella policy can be beneficial, but it would not solve your problem at all. An umbrella is only written to provide additional liability ON TOP of your existing policies. Additionally, insurers generally require you to carry higher levels of liability on your current policies before they will write an umbrella policy.

Despite the fact that everyone is trying, nobody can say that your insurance rates are high without knowing your levels of coverage. I would investigate exactly what you are paying for. You admit to not knowing much about insurance, so is it possible you are paying for extremely high levels of coverage, that you don't need?.

I'm not trying to discourage you from shopping an independent agent, but insurance is one of those things where you get what you pay for. Cut- rate insurance companies are great when you get the monthly bill, but suck when you actually need insurance. Generally, they are very reluctant to pay a claim, especially one that might be on the edge of your coverage. Remember, at it's most basic level, insurance is a guarantee against a risk. I like my guarantee to be rock solid and not questioned when you need it. Independent agents also deal with large insurers, so an independent agent doesn't mean you will have bad insurance in any way. Just buyer beware. You said you got a quote from Geico and they are generally considered a very good company. If you need some examples about how different companies handle claims, Google "Atlas Chalet Shingles".

As several have mentioned there are many things that drive your rates. Yours and your wife's credit are significant factors. So is market share. State Farm rates in the SE are very competitive because State Farm owns the SE market. If you went to New Hampshire, it is likely you would find big insurers cheaper that State Farm.

I truly appreciate your comments wrb. I think you are right on with them.

I had a "come to Jesus" with my agent a little while ago. We are meeting Monday to go through my policy step by step and see what I do and do not need. I have basically just kept the same "types" of insurance dad had. So I think you are heading me in the right direction!

My agent also let me know that GFB is in the middle of changing all their rate plans, and right now it has been about a 16% across the board increase on average. He also let me know he is going to "shop me" with Progressive and Travellers, both of whom recently became "shopping options" under our GFB membership.

As you and others have stated, he also brought up my credit. Because I rarely use credit, and most of what I have used has been years ago, I am basically sitting on a non existent score as of now. He advised, as y'all have, that needs to change. Based upon what he's seeing on his end, 36 months of "good" credit would really help my situation. So, I'm researching cards to see what works the best for me.

Thanks to everyone for all the help. I am pretty good with mechanical stuff, and agricultural related things, but the whole paperwork side of things...not so much my cup of tea. It's great to have all the marvelous guys and gals of TBN to glean some info from!

 

[coobie]

You probably are getting screwed. But I would try to be thankful that you aren't subject to Michigan's "no fault" insurance. Car insurance in Mi. is the highest in the nation. I have PLPD (liability) on two vehicles for $365/month. My wife and I have no tickets or accidents btw.

++1 michigan auto insurance rates make my *****$$ hurt..

 

[kenmac]

Shop with an independent agent that represents A rated ,or better insurance companies. Not cut rate companies. I will never go back with a captive agent.

I have met life through an independent agent. (met life pays too !) I also have the highest Liability they offer.(500K) It was required for an Umbrella policy. Insurance for My 3 vehicles (2007 ram 2500, 2007 toyota scion , 2016 hyundai sonata limited ) runs about 2100 per yr.
Don't be afraid to shop an independent agent.

 

[wrb752]

I truly appreciate your comments wrb. I think you are right on with them.

I had a "come to Jesus" with my agent a little while ago. We are meeting Monday to go through my policy step by step and see what I do and do not need. I have basically just kept the same "types" of insurance dad had. So I think you are heading me in the right direction!

My agent also let me know that GFB is in the middle of changing all their rate plans, and right now it has been about a 16% across the board increase on average. He also let me know he is going to "shop me" with Progressive and Travellers, both of whom recently became "shopping options" under our GFB membership.

As you and others have stated, he also brought up my credit. Because I rarely use credit, and most of what I have used has been years ago, I am basically sitting on a non existent score as of now. He advised, as y'all have, that needs to change. Based upon what he's seeing on his end, 36 months of "good" credit would really help my situation. So, I'm researching cards to see what works the best for me.

Thanks to everyone for all the help. I am pretty good with mechanical stuff, and agricultural related things, but the whole paperwork side of things...not so much my cup of tea. It's great to have all the marvelous guys and gals of TBN to glean some info from!

Sounds like you are on the right track. It seems like your credit, or lack thereof, is really hitting your rates. Insurance companies use what is called credit based insurance scores. Basically what this means is that statistically, people with excellent credit have fewer accidents and file fewer insurance claims, so because they present less risk to the insurance company, they are afforded lower rates. Here is a decent link to show, at least generically, how this works and how your credit affects your rates. In Georgia, the rates are nearly double for poor credit:

How a Credit Score Affects Your Car Insurance - Consumer Reports