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Why should I work with an auto insurance agent in Georgia?

In Georgia, local agents function as a resource to help make the insurance shopping process less stressful and – most importantly – to help you feel confident that you’re getting the best rate for the coverage you need. If you’re not sure whether or not working with a local agent is right for you, don’t worry, we have asked expert insurance agents to break down all the necessary information to help you decide.

Car theft in Georgia rose by more than 60% in 2023. What does this mean for auto insurance rates?

Car theft in Georgia rose by more than 60% in 2023. What does this mean for auto insurance rates?

<h5>Written by <a href="https://rateretriever.com/about/katie-dee/"><span style="text-decoration: underline;">Katie Dee</span></a></h5>
Written by Katie Dee
Written by Katie Dee
<h5>Edited by <a href="https://rateretriever.com/about/alyssa-dicrasto/"><span style="text-decoration: underline;">Alyssa DiCrasto</span></a></h5>
Edited by Alyssa DiCrasto
Edited by Alyssa DiCrasto
Published on 2024-01-26

Read time: 3 min

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Car theft was one of only two types of crime that went up in Atlanta in 2023, according to an article published by 11alive.com. While the rate of murder fell for the first time since the pandemic, Atlanta saw a 64% increase in the rate of motor vehicle theft, and a spike in Georgia car insurance rates likely won’t be far behind.

According to Rate Retriever’s Quarterly Insurance Rates Update Report, the estimated average premium for car insurance in Georgia is $1,642 per year, 10% lower than the national average of $1,824. However, the rise in car theft may have insurance companies reevaluating rates across the state due to the added risk.

What caused the spike in car theft?

If your car insurance rate is at risk of being impacted by the increase of stolen vehicles in Georgia, you deserve to understand what caused it. Thefts of Hyundai’s and Kia’s specifically rose dramatically over the last year due to a viral trend that exposed the vulnerabilities of several model years which make these cars easy targets.

According to the National Highway Traffic Safety Administration, in order to combat this theft, more than 3.9 million Hyundai’s and 4.5 million Kia’s were eligible for software updates geared at fixing the issue in 2023.

Why does the rate of car theft matter for car insurance?

Car insurance rates are highly personalized, so they will look different for every driver. Some of the factors that influence your rate include your driving record, your age, the make and model of your car, and the state you live in.

Above all, insurance companies determine your premium based on how much risk your policy introduces. The uptick in stolen vehicles in the state in 2023 has resulted in Georgia ranking among the top 10 states with the highest rate of vehicle theft in the country and this has caused the risk associated with drivers in Georgia —and Atlanta specifically— to go up considerably.

An increase in stolen cars correlates with a heightened likelihood that a policyholder will file a claim. As a result, insurers may increase their rates to better protect themselves down the line.

Car insurance in Georgia

Even with the negative impact thefts may have on car insurance rates, your specific premium may not be affected as much as you think. Car insurance companies will not just evaluate the risk associated with your state, they will narrow it down to the specific zip code you live in. Certain regions in Georgia bring more risk than others, and if you are insuring your car in a lower-risk zip code, your premium will likely be lower.

Based on Rate Retriever’s data, Atlanta was the second most expensive region to insure a car in Georgia as of the third quarter of last year. Premiums in this area averaged $2,005 per year, coming in second only to Decatur, GA where rates sat around $2,223 per year.

While the spike in stolen vehicles may raise rates even higher in Atlanta, premiums in regions like Valdosta, GA (where car insurance is the cheapest in the state) may be unaffected. Currently, drivers in this area pay on average $1,229 per year for insurance, 25% less than average for the state.

Saving money on car insurance in Georgia

If the increase in thefts has you feeling uneasy about your own premium, don’t panic. There are several factors that play a role in what you will pay for car insurance, and many of them remain in your control.

While it can be easier said than done, the best way to be sure your rates stay low is to drive safely. Insurance companies look to your driving record and accident history in order to get an idea of how likely you are to file a claim. If it is determined that you are a high-risk driver, they will assign you a higher premium in anticipation of future claim payouts. Alternatively, if you have a proven track record of driving safely and not filing many claims, insurers will feel more comfortable giving you a lower rate.

Improving your credit score is another way you can lower your rates. Drivers in Georgia with a poor credit score pay over 70% more for car insurance while those with excellent credit can save around 10% every year.

Additionally, raising your deductible can be a good way to lower premiums. This method will not be right for everybody, as a higher deductible means that you are accepting more financial responsibility if you ever need to file a claim down the line.

Finally, one of the easiest ways to control your car insurance premium is to shop around and compare rates from several different providers in your area. You can get started by taking our short quiz to compare data-backed rate estimates from insurers near you.

Frequently asked

The cost of adding a teen driver to your car insurance

The cost of adding a teen driver to your car insurance

Written by Elizabeth Rivelli

Reviewed by Alyssa DiCrasto

Last updated: November 28, 2023

For most teenagers, getting a driver’s license is a rite of passage. But before teens can get behind the wheel alone, they need to have car insurance. As the parent or guardian of a newly licensed teen driver, you might have questions about car insurance for teens , including how much it costs. In this guide, we’ll look at the average cost of adding a teen to car insurance and explain how you can lower your premium after adding a young driver to your policy.

Adding a teen driver to your car insurance policy

After your child gets their driver’s license, you have two options. You can add them to your existing car insurance policy or you can purchase a new policy for your teen. In general, adding a teen to your existing policy is the cheaper option. Teens with their own car insurance policy pay extremely high rates for coverage due to their lack of experience and increased risk.

However, parents who add a teen driver to their car insurance policy will still see their premium increase. During this time, it’s important to find ways to reduce your car insurance rate. There are a variety of ways to get a lower teen car insurance price, including shopping around for new quotes that might be more affordable after adding your child to the policy.

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What does it cost to insure a teenage driver?

If your child has recently gotten their driver’s license, you’re probably wondering how to insure them. You might be deciding whether to add them to your own policy or get a new policy for your teen. Looking at average car insurance rates for teens and parents can help you make the best choice for your financial situation. 

The average cost of car insurance for a teen driver on their own insurance policy is significantly higher than the average rate for a parent on their own policy – by about 340%.

When a parent adds a newly licensed driver to their car insurance policy, premiums go up. Our rate data shows that the average rate for a parent and a teen on the same policy, with a single vehicle, is a little more than double (about 147% more per year) the parent’s policy alone. For a parent and a teen on the same policy with two cars, the average rate sits around 240% more per year.

For parents, adding a teen to an existing car insurance policy can be expensive. However, it’s much cheaper than purchasing a new insurance policy for your teen. Adding a teen to your existing policy and insuring two vehicles costs 36% less than having an individual policy for the parent and an individual policy for the teen.

In the table below, you can see the average cost of insuring a 17-year-old driver on their own policy, and on a combined policy with their parent:

State Teen's Policy Parent's Policy Combined
Alabama 7,605 1,376 3,889
Alaska 6,387 1,375 4,342
Arizona 7,737 1,434 4,174
Arkansas 7,413 1,581 3,815
California 4,949 1,817 3,900
Colorado 9,082 1,640 3,919
Connecticut 8,633 1,567 4,073
Delaware 13,898 2,194 5,672
Florida 10,770 2,135 5,282
Georgia 9,917 1,550 4,300
Hawaii 1,658 1,229 1,238
Idaho 5,457 978 2,666
Illinois 7,234 1,417 3,626
Indiana 5,198 1,152 2,884
Iowa 4,938 1,146 2,745
Kansas 7,937 1,567 3,712
Kentucky 8,815 1,630 4,553
Louisiana 10,958 2,290 6,306
Maine 4,359 1,011 2,525
Maryland 8,930 1,870 5,042
Massachusetts 4,971 1,468 3,233
Michigan 8,300 2,140 5,231
Minnesota 6,354 1,578 3,930
Mississippi 7,104 1,343 3,626
Missouri 8,233 1,750 4,256
Montana 6,527 1,266 2,694
Nebraska 5,967 1,508 3,431
Nevada 12,093 1,880 5,932
New Hampshire 5,557 1,140 2,834
New Jersey 11,605 2,070 5,757
New Mexico 6,982 1,358 3,208
New York 9,402 2,895 6,296
North Carolina 3,626 1,298 2,689
North Dakota 6,131 1,258 2,865
Ohio 5,207 1,061 2,663
Oklahoma 9,134 1,846 4,569
Oregon 7,052 1,324 3,547
Pennsylvania 6,565 1,694 4,394
Rhode Island 10,172 1,707 5,058
South Carolina 6,314 1,437 4,204
South Dakota 7,112 1,789 3,757
Tennessee 6,602 1,320 3,700
Texas 7,222 1,708 4,245
Utah 8,270 1,469 3,637
Vermont 4,172 1,012 2,643
Virginia 7,743 1,296 4,113
Washington 6,749 1,341 3,366
Washington DC 8,047 1,645 4,224
West Virginia 7,632 1,401 4,070
Wisconsin 5,939 1,151 2,993
Wyoming 4,214 1,118 3,077

When does my teen need car insurance?

A teenager needs car insurance before they can legally drive on their own. Typically, your insurance policy will cover your teen while they have their learner’s permit and are supervised by a licensed driver at all times. But once the teen is licensed, they need to be insured.

You should add your teen to your car insurance policy as soon as they get their driver’s license. If you’re adding them to your existing policy, you can call your car insurance company and request to add a new driver, or add them to your policy online.

If you’re purchasing a new policy for the teen, you will need to shop around and get quotes, and submit an application. If you take out a policy on your teen’s behalf, the policy will likely need to be in your name, even if your teen is paying the premiums.

Should I put my child on my car insurance?

Most car insurance agents recommend adding your child to your existing car insurance policy. Purchasing a new policy just for your teen is incredibly expensive, and rates typically don’t come down until the driver reaches their mid-twenties. Although your rate will go up after adding a teen to your policy, it’s the cheaper option. Additionally, there are a variety of ways to lower your premium while the teen is insured on your car insurance policy.

How to add a teen driver to car insurance

Adding a teen driver to your car insurance policy is usually a simple process. You can contact your insurance company and let them know that you want to add your teen to your car insurance policy. Many car insurance companies also allow you to add a new driver through your online account or the company’s mobile app.

You will need to provide basic information about the teen, like their date of birth and driver’s license number. If your teen has their own vehicle, you will also need to add the car to your policy. Have the make, model, year, VIN, and odometer reading ready when you add the vehicle. Adding a second vehicle to your policy could help you earn a multi-vehicle discount.

How to save money on teen car insurance

There are many ways to reduce your car insurance premium after adding a teen to your policy. One of the best options is to look for discounts. Most car insurance providers offer discounts for taking a defensive driving course, bundling your policies, paying your premium in full, having no recent claims on your record, and insuring a new vehicle.

If your insurance provider offers a telematics-based insurance program, enrolling and participating can also help you save money. These programs use a smartphone to track your driving behaviors during trips, such as your speed, brake force, phone use, and time of day. If you consistently demonstrate safe driving habits, you could earn a discount.

For policies that require a deductible, like collision and comprehensive insurance, choosing higher deductibles can reduce your premium. However, make sure you can afford to pay the higher deductible out-of-pocket in the event that you need to file a claim.

Another great way to save money on car insurance is to shop around and compare quotes from multiple insurance companies. Comparing quotes can help you find the most affordable rate for your situation. You can take our short quiz to see how much you can expect to pay for car insurance when you add your teen.

Discounts for teenagers

Many car insurance companies offer discounts specifically for teens. While every car insurance provider offers different discounts, the most common discounts are good student discounts and students away at school discounts.

With a good student discount, teens can qualify for a reduced premium if they maintain a minimum grade point average (GPA) or receive honors, such as making the Dean’s List. With a student away at school discount, teens can save money if they attend school at least 100 miles away from home and don’t take their vehicle with them. Typically, this discount is only available on collision and/or comprehensive insurance.

Some insurance companies may offer other teen discounts, such as savings for taking a driver safety course or driver’s ed program. You can ask an insurance agent about what savings your teen might qualify for.

Frequently asked

Do you have to add your child to your car insurance policy?

Parents and guardians are not required to add their child to their car insurance policy. However, teens must be insured before they can legally drive alone. If you don’t intend to purchase a new car insurance policy for your teen, you will need to add them to your existing policy.

How much does it cost to insure a 16-year-old?

The average cost of car insurance for a 16-year-old is $4,800 per year. However, car insurance rates depend on many factors besides age. Your location, vehicle type, coverage limits, and insurance company are several other factors that can affect personalized premiums.

Is it cheaper to be on your parent’s insurance?

Yes, it is generally cheaper to be insured on a parent’s insurance policy. The average 17-year-old pays $7,401 per year for their own car insurance policy. For comparison, the average rate for a teen on their parent’s policy, with one vehicle, is $4,189 per year.

Can I insure my child’s car if they don’t live with me?

Most insurance companies don’t allow parents to insure children that don’t live in the same household. Typically, you can only add people to your car insurance policy that live in the same household and share the same address. However, every insurance company has its own rules, and some may allow you to insure a child’s car if they don’t live with you.

About Rate Retriever

At Rate Retriever, our mission is to make the way you shop for insurance transparent and fair through user-friendly tools that respect your privacy and deliver reliable, comprehensive results 

So we took everything we hated about comparing insurance quotes online – the spam, the long questionnaires, the limited choices, the inaccuracy of quote prices – and threw it out the window, favoring a short form that more accurately estimates what you’ll pay at each of the top insurance providers near you. 

Rate Retriever is an independent company that is not owned by an insurance provider, nor do we provide insurance ourselves. This independence allows us to be your free and impartial insurance research tool, helping you make the best decisions for your insurance needs.  

We may earn a commission when you click one of the links or call one of the providers listed on our site; however, we do not allow our partnerships to influence which information we provide. 

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How much car insurance coverage do I need?

How much car insurance coverage do I need?

In nearly every state, drivers are required to carry a minimum amount of car insurance. You must carry at least the minimum amount of coverage to register your vehicle and legally drive. However, the amount of coverage your state requires won’t necessarily be enough to fully protect you in the event of an accident.

Before you purchase an auto insurance policy, it’s important to ask the question, “How much car insurance coverage do I need?” In this guide, we’ll explain how much coverage drivers typically need, and who can benefit from choosing a full coverage policy. We’ll also share the average cost of car insurance for minimum coverage and full coverage.

How much car insurance do I need?

Every state has different car insurance requirements. You must meet the state’s requirements to get behind the wheel legally. If you lease or finance your vehicle, you might be required to carry more car insurance coverage than your state mandates.

Minimum car insurance requirements

Most states require drivers to carry a minimum amount of personal liability insurance. Liability insurance covers your legal and financial responsibilities when you cause an accident and someone else gets injured or their property gets damaged. Some states also require drivers to carry uninsured and/or uninsured motorist insurance or personal injury protection (PIP) as part of a minimum coverage policy.

Select your state from the dropdown menu to see its required coverage types and minimum coverage amounts:

Car insurance by state

Find my state

Lender requirements

Drivers who lease or finance their vehicles are often required to carry more coverage than the state requires. Typically, lenders require drivers to have a full coverage policy for the duration of their lease or loan agreement. A full coverage policy provides physical damage coverage for the vehicle. This is important to lenders because they have an insurable interest in the vehicle and legally own the car until your loan is paid off or your lease is returned.

Full coverage car insurance

A full coverage car insurance policy is optional for most drivers (unless it’s required by a lender). Full coverage car insurance policies include a bundle of coverages that provide coverage for you and your vehicle. Here are the coverages that are typically found with a full coverage car insurance policy:

  • Liability insurance: A full coverage policy includes liability insurance, and the coverage limits tend to be higher than what the state requires. This gives you more financial protection if you cause an accident.
  • Collision insurance: Collision insurance covers your vehicle’s repairs after an accident, regardless of which driver was responsible. It typically pays out based on your car’s actual cash value (ACV) and has a deductible.
  • Comprehensive insurance: Comprehensive insurance is often called “other-than-collision insurance.” It covers your vehicle’s repairs if there is damage from incidents like falling objects, fires, floods, hail, or vandalism. Comprehensive insurance also covers theft.
  • Medical payments insurance: If you or any of your passengers get injured in a car accident, medical payments insurance provides a small amount of coverage for your medical bills.

Full coverage vs. minimum coverage car insurance

If you’re wondering, “How much auto insurance coverage do I need,” you can start by comparing a minimum coverage policy and a full coverage policy. A minimum coverage policy is required by law in almost every state, and it’s also the cheapest policy you can get. However, minimum coverage insurance provides the least amount of coverage, and no coverage for your own property in an accident you cause or a non-collision event.

A full coverage policy is optional for most drivers, and it provides significantly more protection than minimum coverage. A full coverage policy will help pay for your vehicle repairs after a collision or non-collision incident, so you don’t have to pay entirely out-of-pocket. Because full coverage is more comprehensive, the premiums are more expensive than minimum coverage.

Most drivers can benefit from choosing a full coverage policy, even if you own your vehicle outright. Although the premiums are higher, having full coverage will save you money if you need to file a physical damage claim. If your vehicle gets damaged and you only have minimum coverage, you must pay for your vehicle repairs out-of-pocket. If your car is totaled, you won’t receive any money to replace it.

How coverage level impacts cost of car insurance

The amount of coverage you have directly impacts your car insurance rate. Minimum coverage insurance is usually much cheaper than full coverage. Based on the rate data we collected, the average minimum coverage premium is $735 per year and the average full coverage premium is $1,824 per year.

In addition to the type of coverage you choose, the amount of coverage you select will also affect your rate. However, lowering your coverage limits doesn’t always have a dramatic impact on the cost of your policy.

For example, we found that a full coverage policy with liability coverage limits of 100/300/100 and a $500 deductible costs $1,824 per year, on average. On the other hand, a full coverage policy with lower liability limits (50/100/50) and a $500 deductible only costs about $10 less per year.

Frequently asked

What is the best coverage for car insurance?

There’s no “best” coverage for car insurance, but insurance agents generally recommend that drivers purchase a full coverage policy. Full coverage provides much better protection than minimum coverage. To find the most affordable full coverage insurance for your situation, it’s a good idea to get quotes from several insurers. You can take our short quiz to see how much you can expect to pay for car insurance.

What is the difference between full coverage and liability car insurance?

Full coverage and liability-only car insurance differ in a few ways. A full coverage insurance policy will cover your vehicle’s repairs after an accident, even if you were responsible. It also pays for some of your medical bills if you get injured in a crash. A liability car insurance policy only covers another person’s losses if you cause an accident. Minimum coverage insurance is also cheaper than full coverage.

Is $100 a month too much for car insurance?

There’s no monthly car insurance payment that is considered “too much.” Car insurance rates are personalized to each driver based on factors like location, age, credit score, claim history, vehicle type, and other things. The type of coverage, amount of coverage, and your insurance company can also impact your rate. For reference, the average minimum coverage policy costs about $61 per month and the average full coverage policy costs $152 per month. However, you might pay more or less for car insurance based on your individual situation.

About Rate Retriever

At Rate Retriever, our mission is to make the way you shop for insurance transparent and fair through user-friendly tools that respect your privacy and deliver reliable, comprehensive results 

So we took everything we hated about comparing insurance quotes online – the spam, the long questionnaires, the limited choices, the inaccuracy of quote prices – and threw it out the window, favoring a short form that more accurately estimates what you’ll pay at each of the top insurance providers near you. 

Rate Retriever is an independent company that is not owned by an insurance provider, nor do we provide insurance ourselves. This independence allows us to be your free and impartial insurance research tool, helping you make the best decisions for your insurance needs.  

We may earn a commission when you click one of the links or call one of the providers listed on our site; however, we do not allow our partnerships to influence which information we provide. 

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A poor credit score can lead to 76% higher car insurance rates in Texas

A poor credit score can lead to 76% higher car insurance rates in Texas

<h5>Written by <a href="https://rateretriever.com/about/katie-dee/"><span style="text-decoration: underline;">Katie Dee</span></a></h5>
Written by Katie Dee
Written by Katie Dee
<h5>Edited by <a href="https://rateretriever.com/about/alyssa-dicrasto/"><span style="text-decoration: underline;">Alyssa DiCrasto</span></a></h5>
Edited by Alyssa DiCrasto
Edited by Alyssa DiCrasto
Published on 2024-01-09

Read time: 3 min

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Even within the same state, car insurance rates look different for each individual driver. Rates are determined by factors such as your driving record, your age, the make and model of your car, and more. In Texas, the average yearly cost for car insurance is $1,886, just 3.4% higher than the national average of $1,824. However, some drivers in this state still pay upwards of $3,300 every year for car insurance.

So, how can you be sure you’re getting the best rate possible? First you need to understand what exactly goes into nailing down your specific premium.

Gender and Texas car insurance rates

In the state of Texas, car insurance companies use the gender specified on your license as a rating factor in car insurance. According to Rate Retriever’s Auto Insurance Rates Quarterly Update, on average, female policyholders pay around 3% less for car insurance than their male counterparts, a difference of about $50 per year.

While the use of gender as a rating factor has been prohibited in other states, Texas’s board of insurance still allows the practice, and research shows that female drivers are more risk averse on the road and, therefore, less likely to get into an accident.

Coverage level

The level of car insurance coverage you choose will also have an impact on your rate. Rate Retriever’s research showed that those with a minimum coverage policy can save up to 63% on their car insurance when compared to those with premium coverage. The average annual premium for a minimum coverage policy in Texas is $707 while premium coverage costs around $1,886.

Furthermore, drivers who choose to have a standard coverage policy with slightly lower limits pay an average of 4% less than those with premium coverage. The average premium for standard car insurance coverage in Texas is $1,807 per year.

Credit score

According to Rate Retriever’s report, credit score affects car insurance rates in Texas more than any other rating factor. On average, drivers in the state with poor credit scores pay $3,316 per year for their car insurance. This is an increase of 76% when compared to those with good credit scores who pay $1,886 annually.

Auto insurance companies often look at a policyholder’s credit score to determine how much risk the policy will introduce because research has shown a relationship between a person’s credit score and their likelihood of filing an insurance claim. Because of this, monitoring your credit score is essential when it comes to ensuring you’re not overpaying for car insurance.

How zip code impacts car insurance in Texas

Your exact location within the state of Texas will have a fairly large impact on what you will pay for car insurance. Insurers typically consider factors specific to your zip code such as traffic patterns, crime rates, and car accident rates in order to determine how much risk is associated with a certain policy and then set rates accordingly.

Currently, the most expensive zip code for car insurance in Texas is 75224, located in Dallas, with an average annual premium of $2,399. With an overall population of 1.288 million people and a population density of around 3,400 people per square mile, Dallas is the third most populous city in Texas. In a large metropolitan area like this, car accidents will happen more frequently and so car insurance companies will assign higher rates.

Conversely, the least expensive zip code for Texas car insurance is 76543 in Killeen, with an average annual premium of $1,498. This area has a population of just over 156,000 people, significantly reducing the likelihood of the driver filing a claim and allowing car insurance companies to assign lower rates.

How to lower car insurance rates in Texas

There are several ways you can control your car insurance rates in Texas. The first is to shop around and compare rates from multiple different insurance companies in your area to ensure that you are getting the best one. Rate Retriever’s short quiz can help you get started and find savings in 30 seconds.

Additionally improving your credit score, maintaining a good driving record, and seeking out discounts you could be eligible for are great ways to save money on car insurance in Texas.

Frequently asked

Rochester company launches new initiative to help consumers save on insurance nationwide

Rochester company launches new initiative to help consumers save on insurance nationwide

<h5>Written by <a href="https://rateretriever.com/about/katie-dee/"><span style="text-decoration: underline;">Katie Dee</span></a></h5>
Written by Katie Dee
Written by Katie Dee
<h5>Edited by <a href="https://rateretriever.com/about/alyssa-dicrasto/"><span style="text-decoration: underline;">Alyssa DiCrasto</span></a></h5>
Edited by Alyssa DiCrasto
Edited by Alyssa DiCrasto
Published on 2024-01-09

Read time: 3 min

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

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Soleo Communications announces Rate Retriever, an intuitive insurance comparison tool. It allows consumers to view and compare insurance options side-by-side through the use of reliable third-party data. No signup or contact information is required for a private, hassle-free experience.

Rochester, NY [January 9, 2024] – Rochester based performance marketing company Soleo Communications has recently embarked on a new endeavor with the launch of Rate Retriever. Rate Retriever is an innovative new insurance comparison tool that helps drivers find their best car insurance rate quickly and easily with a personalized, comprehensive list of data-backed rate estimates. With this no-cost, spam-free tool, Rate Retriever is poised to transform the way consumers shop for insurance.

Through public rate filings obtained from analytics company First Interpreter, Rate Retriever provides consumers with accurate rate estimates from several insurance providers in their area.

“For over 20 years Soleo Communications has been a part of the Rochester community,” said Dan Gallagher, Founder and CEO of Soleo Communications. “With the launch of Rate Retriever, our team has developed a more reliable way to compare insurance rates. We designed our tool to overcome the pitfalls of the industry such as inaccurate results, constant spam, and lengthy questionnaires.”

Throughout 2023, car insurance rates skyrocketed, rising faster than anything else in the economy. Since every insurance company has their own unique rating system, rates will vary drastically among different drivers. With so many options to consider, choosing the cheapest provider can often feel impossible, but Rate Retriever makes it easy.

With a database of 214 insurance companies and growing, Rate Retriever offers accurate rate estimates from every major insurance company in a user’s area in less than a minute. Additionally, the tool does not require any user contact information before displaying the results, making it 100% spam-free, guaranteed.

“It is our goal to provide users with a tool worthy of their trust by keeping transparency, respect, and quality top of mind,” said Gallagher. “Rate Retriever gives us the opportunity to further Soleo’s mission of making meaningful connections; we can now help drivers across the all over the country connect with the right insurance company for them.”

For more information and to try Rate Retriever’s insurance comparison tool, visit rateretriever.com. To learn more about Soleo Communications, visit the website.

About Soleo Communications

Based in Rochester, NY, Soleo Communications is a performance media company with the mission to make useful connections for people everywhere, every day. Soleo was founded in 2002 and has since earned its reputation by building imaginative online marketplaces, maintaining the highest standards of compliance, and developing industry-leading platforms and solutions in performance marketing and call management. Soleo’s owned and operated digital brands match consumers with the service providers they need in several industries including P&C insurance, home services, and more. For more information, visit https://soleo.com/ or call (833) 389-5800.

About Rate Retriever

Rate Retriever is an online resource dedicated to simplifying how consumers shop for car and home insurance. As it strives to be the most trusted resource for comparing insurance rates, Rate Retriever offers a simple tool that helps its users find savings in 30 seconds without sacrificing their contact information. Rate Retriever is an owned and operated subsidiary of Soleo Communications based in Rochester, NY. For more information, visit https://rateretriever.com/.

 

Frequently asked

Some drivers are paying over 70% more for car insurance in Georgia

Some drivers are paying over 70% more for car insurance in Georgia

Written by Katie Dee

Edited by Alyssa DiCrasto

Published on 2023-12-01

Read time: 3 min

Drivers in Georgia are currently paying 10% less than the national average for car insurance with an estimated annual premium of $1,642. However, according to research conducted by Rate Retriever, factors such as credit score, zip code, and coverage level can result in a cost increase of up to 71%.

As inflation continues to increase and the economy struggles to right itself, saving money is top of mind for every consumer. Understanding exactly how car insurance rates are determined in Georgia and knowing the opportunities for savings available helps ensure that you have the best rate.

Georgia car insurance rules and regulations

No matter the location, car insurance companies primarily set rates based on the amount of risk associated with each individual policy. This risk is determined by personal factors such as driving record, age, and where you live, as well as the make and model of your car.

Beyond that, each state’s department of insurance sets unique requirements that impact yearly premiums. In Georgia, the minimum requirements for car insurance are bodily injury liability insurance that covers $25,000 per person and $50,000 per incident as well as property damage liability insurance that covers $25,000 per incident.

Policy owners in Georgie have the option to add physical damage insurance such as comprehensive and collision coverage, as well as uninsured motorist insurance that provides coverage if you are involved in an accident with a driver who does not have insurance.

How does coverage level impact car insurance in Georgia?

According to Rate Retriever’s Quarterly Insurance Rates Update, Georgia drivers who choose a minimum coverage car insurance policy can save up to 50% when compared to those with premium coverage. The estimated annual premium for minimum coverage car insurance in Georgia is $813 on average, about half the cost for a premium full coverage policy.

Comparatively, drivers in Georgia with a premium policy who pay an average of $1,642 per year while those who opt for a standard coverage policy – with slightly lower limits – pay around $1,650 annually, which is around $8 more.

How credit score impacts car insurance rates in Georgia

Rate Retriever’s research also revealed that credit score is one of the more important determining factors for car insurance rates in Georgia. Currently drivers with poor credit pay an average of $2,816 yearly, 71% more than those with good credit.

Drivers who have a fair credit rating pay 19% more than those with good credit with an estimated annual premium of $1,958. Unsurprisingly, those with excellent credit are assigned the lowest car insurance rates. Having an excellent credit score can save you up to $298—or 18% — on your annual premium in Georgia compared to drivers with good credit.

How zip code impacts car insurance rates

Even within the same state, car insurance premiums can vary drastically depending on zip code. If you are looking to insure your vehicle in a zip code known for high rates of car theft, a high population density, or an above average accident rate, your rates will likely be higher than someone looking for insurance in a lower risk area.  

Rate Retriever’s research showed the most expensive zip code for car insurance in Georgia is 30035. Located in Decatur, GA, the average annual premium for this zip code is $2,223. One reason for this could be that this Georgia city has a high population density of around 2,385 people per square mile, which increases the risk of an accident occurring.

The zip code paying the least for car insurance in Georgia is 31601 in Valdosta, GA. In comparison to Decatur, this area has a population density of just over 200 people per square mile, making the level of risk significantly lower, which may contribute to lower rates.

Best ways to save money on Georgia car insurance ​

Even though rates are highly tailored to the policyholder, there are several ways that anyone can save money on car insurance in Georgia. The first of these is doing some research on any discounts you may be eligible for. Several insurance companies offer special discounts such as loyalty, good student, and safe driver discounts.

Multiple car insurance companies such as Geico and Progressive offer specific safe driving discounts to those who complete a defensive driving course. Taking a course like this shows insurance companies that you are up to date on the best safety practices on the road, making you less likely to file a claim.

Next, married couples can save up to 54% for car insurance in Georgia by combining their policies. The average price for a married couple in Georgia with separate car insurance policies is $3,280, however, combining policies can bring that amount down to $2,407 yearly and even as low as $1,510 if the couple chooses to share a vehicle.

Improving your credit score is another way to lower your car insurance rates in Georgia. Drivers in Georgia stand to save about 70% on their rates just by raising their score from poor to good.

Raising your deductible can also help save you money on your premium. By doing this, you are accepting more financial responsibility if you ever have to file a claim, so you do run the risk of spending more in the long run. This is why you should consider the pros and cons of this method to be sure it is the right choice for you.

Lastly (and most effectively), you could save money on your annual premium by comparing several car insurance companies in your area to see who is offering the lowest rates for your unique profile. Every insurer is different and the rates they set may vary drastically depending on several different factors. Take our short quiz to find the cheapest insurance provider near you.

Frequently asked

Top 10 least expensive cars to insure

Top 10 least expensive cars to insure

Written by Katie Dee

Edited by Alyssa DiCrasto

Published on 2023-11-27

Read time: 3 min

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Car insurance companies set rates based on one thing above all else: risk associated with a driver profile.  Risk is assessed based on several factors, including your location, age, driving history, and the specific vehicle you are insuring. While some of these aspects are out of your control, choosing to drive a car that car insurance companies view as less risky to insure can significantly decrease your car insurance rates.

With so many vehicles on the market, finding your cheapest option can feel overwhelming. To help you in this process, we have compiled a list of the ten least expensive cars to insure along with their average annual premiums, according to Rate Retriever’s Quarterly Insurance Rates Update.

The least expensive vehicles for car insurance

Of the top 100 best-selling 2023 models, Rate Retriever’s research found that the tenth least expensive car to insure is the Hyundai Tucson. This vehicle has an average annual premium of $1,842, which is 13% lower than the national average of $2,129. Next, the Ford Transit Connect Cargo Van is 14% cheaper than the national average, with policy holders paying an average of $1,840 per year.

The next three cheapest cars to insure are separated by just $1 each for their annual premiums and are all about 14% cheaper than the national average. The Honda HR-V has an average annual premium of $1,835, the Jeep Wrangler costs an average of $1,834 per year to insure, and the Chevrolet Trailblazer has an average annual premium of $1,833.

Starting off the top 5 cheapest cars to insure is the Ram 3500 Promaster Cargo Van, with an annual premium of $1,823, 14% less than the national average. Next, with an average premium of $1,809 per year is the Volkswagen Tiguan. This car is 15% lower than the average vehicle’s car insurance.

The 2023 Mazda CX-5 is the third cheapest car to insure. Car insurance on this model is 15% cheaper than the national average with an annual premium of $1,807. The second cheapest car to insure is the Subaru Forester with an average annual premium of $1,792, 16% cheaper than the national average.

Finally, the cheapest 2023 model to insure is the Subaru Outback. This vehicle has an average annual premium of $1,737, 18% less than the national average for car insurance.

Keep in mind, even if you own one of these vehicles, your exact rate will vary depending on factors such as the state you live in and your age. To get a more accurate car insurance rate estimate, take our short quiz to compare companies and find the cheapest option for you.

What makes a car less expensive to insure?

Car insurance rates are highly personalized, and the exact make and model of your car can influence your premium drastically. Typically, vehicles with high safety ratings and anti-theft technology are cheaper to insure because these features make the policyholder less likely to file a claim.

Additionally, luxury vehicles and electric cars are usually more expensive to insure because they are pricier to repair or replace if you ever need to file a claim. Electric vehicles may also require a specialized body shop to make any necessary repairs. This makes these repairs more expensive and, therefore, adds to the cost of car insurance on these vehicles.  

The number of accidents associated with a certain make and model will also have an impact on car insurance rates. Car insurance companies analyze the accident history for specific vehicles and will set higher rates for those with a higher percentage of accidents.

If you are in the market for a new car, consider doing some outside research on accident history prior to making your purchase to try and keep your car insurance rates as low as possible.

Frequently asked

The lasting impact of COVID-19 on car insurance rates

The lasting impact of COVID-19 on car insurance rates

Written by Katie Dee

Edited by Alyssa DiCrasto

Published on 2023-11-25

Read time: 3 min

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From transformed school and workplace environments to economic downturn, the aftermath of the COVID-19 pandemic continues to be seen almost everywhere you look. The car insurance industry is no exception to this.

As the economy tries to right itself and consumers return to their pre-pandemic driving habits, the risk for car insurance companies has increased significantly. With rates rising to make up for this added risk, understanding the relationship between COVID and car insurance can help you to save on your annual premium.

How has COVID-19 affected car insurance rates?

Back in 2020, as the rapid spread of the pandemic caused businesses to start operating remotely, car insurance companies began offering drivers discounts and refunds on their premiums because cars were simply not being driven.

In fact, a report conducted by the Deloitte Center for Financial Services in the early days of the pandemic found that pandemic-related lockdowns led to a year-over-year decrease of 40.2% in the miles driven in April of 2020 and a 25.5% drop in May of 2020. With the roads emptying, car insurance rates began to decrease significantly.

However, this trend did not last for long. According to the U.S. Bureau of Labor Statistics, car insurance rates have gone up by over 28% from 2020 to 2023. That is an inflation rate of 8.63% per year. Compare this to the 3.36% increase in car insurance costs from 2017 to 2020, and the difference is clear.

Understanding the relationship between COVID and car insurance rate increases is just the beginning, though. The real question is how to save money on your premiums despite the mounting cost of car insurance.

How to save money on car insurance after COVID-19

According to Rate Retriever’s Quarterly Insurance Rates Update, the average cost for car insurance in 2023 is $1,824. Remember, your exact car insurance rate will vary depending on factors such as the state you live in, your driving record, and the make and model of your car.

There are also several methods you can try to save money on your car insurance premium, even in the aftermath of COVID-19. The first step you should take is comparing costs from multiple providers in your area. We can help you here, with our quick and easy quiz, you can compare car insurance rates side by side and find your cheapest option.

Rate Retriever’s report also found that credit score has a significant impact on car insurance rates in all states besides California, Hawaii, and Massachusetts. Knowing this, working to improve your credit rating is another option for reducing your car insurance rates. On average, drivers with excellent credit pay 17% less for car insurance than those with good credit while drivers with poor credit can expect to pay 84% more.

Another tip for lowering your car insurance rates: raise your deductible. Car insurance companies set rates based on the amount of risk a policy introduces to them, and by raising your deductible, you are taking some of that risk away.

Keep in mind, the higher your deductible, the more you will owe out of pocket if you ever need to file a claim with your insurance company. While raising your deductible can save you money on annual premiums, it may end up costing you more in the long run, so this may not be the best option for everyone.

Lastly, you may be able to save money on your car insurance premium by taking a defensive driving course. Several insurance companies offer discounts for policyholders who complete these courses because brushing up on drivers safety knowledge lessens their likelihood of filing a claim.

Frequently asked