Who Has the Cheapest Auto Insurance Quotes for Low Income Drivers in Georgia?

Wouldn’t life be so easy if we could look into our crystal ball and tell you the exact company that has the cheapest car insurance rates for low income drivers? It’s not that simple, unfortunately, as there are a whole slew of unknown elements such as deductibles for comprehensive and collision coverage, whether you just need liability insurance, and the area where you live. The information below covers the best ways to avoid high prices and hopefully give you enough understanding to have a jump start in finding the best auto insurance.

For poor drivers, one of the more important considerations that play a part in determining the price you pay for insurance is the neighborhood you call home in Georgia. Areas with more people or even just a higher incidence of claims like East Point, North Atlanta, and Dunwoody tend to pay higher rates, whereas areas that are not as densely populated have the luxury of the cheapest car insurance for low income drivers in Georgia.

The table below lists the highest-priced places in Georgia for low income drivers in which to purchase auto insurance.

Prices are comparative as the specific area where the vehicle is garaged can increase or decrease premium rates significantly.

We all have different tastes in cars, and the vehicle requiring insurance is one of the biggest factors that determines whether or not you can buy the cheapest insurance for low income drivers. Vehicles with economical engines, good crash test ratings, or a low likelihood of liability claims will cost less to insure than fast, unsafe models. The next tables presents auto insurance prices for a number of the most economical automobiles to buy coverage for.

Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Georgia minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Estimates do not factor in specific garaging location which can influence rates substantially.

Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Georgia minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Rate quotes do not factor in Georgia location which can revise prices considerably.

Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Georgia minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Premium costs do not factor in specific location information which can raise or lower price quotes noticeably.

Should you buy full coverage?

Finding the cheapest car insurance for low income drivers in Georgia is probably important to the majority of drivers, and an effective way to reduce the cost of insurance is to buy liability only. The diagram below shows the comparison of insurance costs with liability coverage only compared to full coverage. The costs are based on no driving violations, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are applied to the premium.

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If we average all the age groups together, full coverage costs an extra $1,650 per year over and above liability only. That may make you wonder when is the right time to remove full coverage. There isn’t a steadfast formula to drop full coverage on your policy, but there is a general convention. If the annual cost of coverage is more than 10% of the replacement cost minus the deductible, then it could be time to drop full coverage.

For example, let’s assume your vehicle’s claim settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, you would only receive $6,000 after the policy deductible has been paid. If it’s costing you more than $600 annually for physical damage coverage, then it might be time to buy liability only.

There are a few cases where only buying liability is not financially feasible. If you still have a lienholder on your title, you have to carry full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage.

Progressive, Allstate, Geico, and State Farm compared

When researching car insurance, four companies to consider are Progressive, Allstate, Geico, and State Farm. They all offer your standard coverages, but each one has different features and discounts that you can choose from. The data below points out some of the ratings and options shoppers can find with each company.