How Much Does Auto Insurance Cost for Drivers Requiring a SR22 in Georgia?

How Much Does Auto Insurance Cost for Drivers Requiring a SR22 in Georgia?

Wouldn’t it be nice if you could just know the one perfect company that has the best auto insurance prices for drivers requiring a SR22? That is not the case, however, as there are a whole slew of unknown aspects such as the area where you live, traffic citations and accidents, and if you own your home, that all have an effect on the price of a policy. This article will cover the best ways to find cheap auto insurance and will hopefully give you a good beginning to your quest for cheaper car insurance in Georgia.

Finding good, low-priced auto insurance is confusing at best, and deciding which insurers offer the best auto insurance rates for drivers requiring a SR22 may require even more work. Policy rates should be much higher than the average price in Georgia because of the potentially higher risk that comes with selling insurance for high risk drivers, but reasonably-priced insurance may be attainable if you shop around.

Each auto insurance company uses their own method for setting rates, so we’ll go over the lowest cost auto insurance companies in Georgia. We do need to point out that Georgia auto insurance rates are influenced by many factors which can significantly increase or decrease the price of your policy. Turning one year older, buying a different vehicle, or getting a reckless driving citation can produce rate changes that can now make some companies cheaper than competitors.

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Cheapest Georgia car insurance ranked by price
Rank Company Cost Per Year
1 Auto-Owners $855
2 The Hartford $913
3 USAA $998
4 Central Mutual $1,157
5 MetLife $1,276
6 Georgia Farm Bureau $1,312
7 Travelers $1,318
8 Safeco $1,355
9 Mercury $1,355
10 Country $1,391
11 State Farm $1,404
12 Allied $1,409
13 California Casualty $1,531
14 Encompass $1,689
15 Progressive $1,791
16 Nationwide $1,845
17 Liberty Mutual $2,004
18 GEICO $2,143
19 Allstate $2,202
20 Victoria $2,559
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Auto-Owners offers some of the lowest car insurance rates in Georgia at around $855 per year. The Hartford, USAA, Central Mutual, and MetLife would also make the list of some of the lowest-priced Georgia car insurance companies.

In the above rates, if you are currently insured with MetLife and switched to The Hartford, you may realize yearly savings of in the vicinity of $363. Georgia drivers with Georgia Farm Bureau may save as much as $399 a year, and Travelers customers might realize rate reductions of up to $405 a year.

It’s important to note that these premium estimates are averaged across all ages of drivers and types of vehicles and and are not calculated with a rate increase for drivers requiring a SR22. So the car insurance company that has the lowest price for you may not even be featured in the company chart above. That helps illustrate why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.

The vehicle model needing coverage is one of the main factors when comparing cheap car insurance for drivers requiring a SR22 in Georgia. Vehicles with lower acceleration and performance, advanced safety features, or a positive history of liability claims will cost substantially less to insure than higher performance models. The next list features car insurance premiums for a number of the more afforable vehicles to buy insurance for.

Cheapest Auto Insurance Rates for Drivers Requiring a SR22 in Georgia
Vehicle Estimated Cost for Full Coverage
Ford Escape XLS 4WD $3,696
Honda CR-V LX 2WD $3,795
Hyundai Elantra SE Touring Station Wagon $3,934
Toyota Prius $3,974
Subaru Forester X Limited Edition AWD $4,016
Jeep Wrangler Sport 4WD 2-Dr $4,063
Chevrolet Traverse LTZ AWD $4,129
Ford F-150 STX Super Cab 4WD $4,223
Toyota Tacoma 4WD $4,291
Dodge Grand Caravan SE $4,317
Chevrolet Impala LS $4,336
Toyota Sienna LE $4,378
Subaru Outback 2.5I Premium $4,418
Ford Edge SEL 2WD $4,477
Honda Odyssey EX $4,485
Chevrolet Equinox LS AWD $4,491
Hyundai Tucson Limited 2WD $4,524
Toyota RAV4 Sport 4WD $4,533
Chevrolet Malibu LS $4,524
Volkswagen Jetta S 4-Dr Sedan $4,533
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Prices above based on married male driver age 30, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Georgia minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Estimates do not factor in vehicle location which can change prices substantially.

Looking at the data, we can conclude that models like the Ford Escape, Honda CR-V, and Hyundai Elantra are most likely to be the less-costly vehicles to insure for high risk drivers. The cost of auto insurance will be more expensive just due to the fact that there is more claim exposure for drivers requiring a SR22, but overall those models will probably have the lowest insurance rates compared to other vehicles.

The chart below highlights how deductible selection can raise or lower insurance premiums when getting quotes for cheap insurance for drivers requiring a SR22. The rates are based on a single male driver, comprehensive and collision coverage, and no discounts are factored in.

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A 30-year-old driver could lower their policy premium by $492 a year by changing from a $100 deductible up to a $500 deductible, or save $740 by changing to a $1,000 deductible. Even younger insureds, like the 20-year-old, could reduce their rates $1,460 every year just by choosing higher deductibles. When increasing deductibles, it is important to have enough funds in savings to enable you to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.

Who has the cheapest insurance quotes for high risk drivers?

There are many different ways to purchase auto insurance in Georgia, but the most frequently used are through an exclusive insurance agent like Allstate or Liberty Mutual, an independent agent, or direct from companies such as Geico or Progressive.

All three ways can provide auto insurance quotes, but they differ slightly in how they function.

Independent agents have contracts with multiple insurance companies and can compare coverage rates with every one. These types of agencies are not locked into one company and can give you more rates, which may give you the best shot at cutting your rates. If prices rise, the agent simply finds a different carrier and the insured can keep the same agent.

An exclusive ageny is only able to write business for a single company, a couple examples are a State Farm or Farmers agent. These agents are not able to provide rate quotes from other companies, so if rates are not competitive, they cannot shop around.

If you want to buy auto insurance direct, you forego an agent and instead shop from a direct company like Esurance. Buying direct can be a good choice for families who do not need complex risk management and have a good understanding of what limits they need.

So which of the methods works best to find cheap car insurance for drivers requiring a SR22 in Georgia? Most people would assume that buying from a direct car insurance company results in the best prices because you bypass the middleman, but in reality, that is not true. It could also be said going through an independent agent guarantees the lowest rates due to having more companies to select from, but that idea is not necessarily true either. In many circumstances, exclusive agents may have prices that independents and direct companies can’t touch.

Because there is so much variation in auto insurance prices, the only true way to not overpay for auto insurance is to compare rate quotes from as many companies as possible. Experts recommend getting price quotes from all three in order to have enough rates to compare. For a list of companies offering online discounts in Georgia, click here to view.